Feds say deal between American Airlines and JetBlue would drive up the cost of airfares [CBS News]
JetBlue Airways Corporation (JBLU)
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Source: CBS News
American Airlines and JetBlue, claiming that it will reduce competition and lead to higher fares. The Justice Department said Tuesday that the agreement will eliminate important competition in New York and Boston and reduce JetBlue's incentive to compete against American in other parts of the country. Attorney General Merrick Garland said the lawsuit was about ensuring fair competition that lets Americans fly at affordable prices. "In an industry where just four airlines control more than 80% of domestic air travel, American Airlines' 'alliance' with JetBlue is, in fact, an unprecedented maneuver to further consolidate the industry," Garland said in a statement. "It would result in higher fares, fewer choices, and lower quality service if allowed to continue." American and JetBlue vowed to fight the lawsuit and to continue their alliance unless a court orders them to stop. American and JetBlue announced their deal last year and have already started to coordinate flights in t
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News
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- JetBlue Airways Co. (NASDAQ: JBLU) had its price target lowered by analysts at TD Cowen from $7.00 to $6.00. They now have a "hold" rating on the stock.MarketBeat
- JetBlue sees no profit this year on excess industry capacity, grounded planes [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- JetBlue Airways (JBLU) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
JBLU
Earnings
- 4/23/24 - Beat
JBLU
Sec Filings
- 4/23/24 - Form 8-K
- 4/22/24 - Form SC
- 4/15/24 - Form 4
- JBLU's page on the SEC website