Spirit Air Files Bankruptcy Following Failed JetBlue Tie-Up [BNN Bloomberg (Canada)]
JetBlue Airways Corporation (JBLU)
Last jetblue airways corporation earnings: 1/23 07:00 am
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US:NASDAQ Investor Relations:
investor.jetblue.com/investor-relations
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Source: BNN Bloomberg
The airline filed for Chapter 11 in New York listing assets and liabilities of between $1 billion and $10 billion, according to a court document. Spirit has been in negotiations with its creditors since a federal judge blocked that $3.8 billion acquisition by JetBlue, ruling the combination would harm cost-conscious travelers by driving up the price of airline tickets across the industry. The federal government had challenged the tie-up on antitrust grounds. Separate talks for a merger with Frontier Group Holdings Inc. also fell apart. The airline has also been under increased pressure from larger carriers that have offered travelers more affordable tickets. Spirit filed for bankruptcy after reaching an agreement on a broad debt restructuring with a majority of its loyalty and convertible bondholders, according to a statement. Under the plan, existing bondholders will take control of the company, which will be delisted, after swapping $795 million of debt into equity. Bondhol
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JBLU
Earnings
- 10/29/24 - Beat
JBLU
Sec Filings
- 11/13/24 - Form 4
- 11/12/24 - Form SC
- 11/8/24 - Form SC
- JBLU's page on the SEC website