Spirit Airlines (NYSE:SAVE) stock is on the move Thursday as investors react to a recent decision made by JetBlue Airways (NASDAQ:JBLU).
The big news here is JetBlue Airways ending its collaboration with American Airlines (NASDAQ:AAL). These two airlines had formed an alliance but are now dealing with antitrust claims from regulators.
JetBlue Airways says that it won’t continue the alliance with American Airlines and that the two will wind down the collaboration in the coming months. This comes after a federal court ruled that the team-up violated antitrust laws. While JBLU could’ve appealed that ruling, it’s decided not to.
What This Has to Do With SAVE Stock
JetBlue Airways is looking to merge with Spirit Airlines and doesn’t want to deal with any antitrust concerns. The company has already been facing such claims from regulators over its planned combination with Spirit Airlines. As such, it’s choosing not to appeal the AAL court ruling in hopes of avoiding any further trouble on this front.
With this news, investors are taking note of SAVE stock on Thursday. That saw the company’s shares jump in early morning trading in reaction to the appeal decision. However, the shares are only up slightly as of this morning.
On the flip side of that, both JBLU and AAL stocks are down today. This has JBLU falling 5.8% and AAL stock dropping 2.7% as of this writing.
Investors seeking more of the most recent stock market news on Thursday will want to keep reading!
InvestorPlace is home to all of the hottest stock market coverage that traders need to know about on Thursday! With that comes what’s going on with shares of Kazia Therapeutics (NASDAQ:KZIA), crypto stocks, and more today. You can catch up on all of this news at the following links!
More Thursday Stock Market News
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
