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Stock impact report

Justice Department wins lawsuit to end JetBlue and American Airlines alliance [CNN]

American Airlines Group, Inc. (AAL) 
Last american airlines group, inc. earnings: 4/30 07:30 am Check Earnings Report
Company Research Source: CNN
US District Judge Leo Sorokin ruled in favor of the the Justice Department, giving the Biden administration a victory in its years-long lawsuit against the airlines' collaboration. The Justice Department filed the lawsuit in 2021 , alleging the two companies raised prices and reduced choice for air passengers traveling to and from major cities in the Northeast, such as New York City and Boston. The airlines have 30 days to end their partnership, Sorokin ruled – just as the busy summer travel season kicks off. “It is abundantly clear to the Court that the defendants' primary motivation in establishing the NEA was to strengthen their own competitive positions against Delta (and, to a lesser extent, United) in Boston and New York,” Sorokin wrote in the ruling Friday. The judge's ruling Friday said that both airlines are a “formidable and influential player” in air travel – American Airlines Group is the largest airline in the world and JetBlue is the sixth largest airline in the U Show less Read more
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