Spirit Acquisition Remains Uncertain
JetBlue, the U.S. low-cost airline currently at odds with the Biden DOJ over its proposed acquisition of Spirit Airlines, has reported its highest quarterly profit since 2019. The Queens, New York-headquartered air-carrier posted 2023 second-quarter earnings of $138-million—a significant improvement over second-quarter 2022 losses of $188-million. Positive short-term results notwithstanding, unfavorable factors, such as the carrier’s abandonment of its Northeast Alliance (NEA) partnership with American Airlines, have compelled JetBlue to reduce its full-year earnings forecast.