JetBlue Airways Corporation JBLU reported its fourth-quarter earnings on Thursday, and CEO Robin Hayes commented on the ongoing legal proceedings surrounding its proposed acquisition of Spirit Airlines, Inc. SAVE during the company’s earnings call.
What Happened: JetBlue said that it will continue to evaluate options for the Spirit deal and will continue to abide by the terms while the Spirit agreement is in effect.
“We strongly disagree with the court’s ruling,” Hayes said.
According to a Reuters report, JetBlue and Spirit are seeking an expedited appeal aimed at reversing a lower court ruling that blocked the proposed $3.8 billion merger of the airlines. The airlines stated that the appeal should be expedited because the court may not have an opportunity to review the decision due to the outside closing date of July 24 of the merger agreement.
Related News: What’s Going On With Alaska Air Stock?
JBLU, SAVE Price Action: According to Benzinga Pro, JetBlue shares closed down 4.73% at $5.24, and Spirit Airlines shares closed up 5.8% at $6.38 on Thursday.
Image: Courtesy of JetBlue Airways Corporation and Spirit Airlines, Inc.
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