Spirit Airlines and JetBlue Appeal Merger Block as Spirit's Stock Rises

Despite financial struggles, Spirit Airlines sees strong fourth quarter estimates amid appeal of blocked merger with JetBlue.

Spirit Airlines and JetBlue Airways have filed an appeal to challenge the ruling that blocked JetBlue's planned $3.8 billion acquisition of Spirit Airlines.
Spirit Airlines released preliminary fourth quarter estimates, expecting total fourth-quarter revenue of around $1.32 billion due to strong bookings over the holiday season.
Spirit Airlines shares are trading higher, moving on heavy trading volume with more than 32.27 million shares already traded in the session.
Spirit Airlines remains on its own after a federal judge sided with the Biden administration and blocked JetBlue Airways from buying Spirit Airlines.
Spirit Airlines has been in poor financial shape and its status as an ongoing concern is in question.