Warren Urges DOT to Block JetBlue's $3.8 Billion Spirit Deal
U.S. Sen. Elizabeth Warren contends that the elimination of Spirit, a low-cost carrier, would likely lead to higher airline ticket prices, particularly in places where Spirit and JetBlue overlap.
September 16, 2022 at 01:43 PM
2 minute read
U.S. Sen. Elizabeth Warren urged federal airline regulators to block JetBlue Airways Corp.'s proposed merger with Spirit Airlines Inc. by invoking a rarely used authority from the 1950s to argue that the $3.8 billion deal isn't "consistent with the public interest."
In a letter to Transportation Department Secretary Pete Buttigieg, Warren, a Massachusetts Democrat, said the agency could use its authority over airline certification transfers to stop the merger.
She contends that the elimination of Spirit, a low-cost carrier, would likely lead to higher airline ticket prices, particularly in places where Spirit and JetBlue overlap.
Although the Transportation Department is the primary regulator for the airline industry, it generally defers to the Justice Department to decide whether airline mergers pass muster on US antitrust law.
The Justice Department must go to court to prove that competition would be harmed by a merger. The DOT, however, can just decide that the merger is not in the public interest, an authority it has had since the Federal Aviation Administration was created in 1958.
"DOT has the statutory authority to block mergers that it determines are inconsistent with the public interest at the agency level without having to go to court — a significant advantage over DOJ — and you have an enormous opportunity to protect consumers nationwide by using this authority aggressively," Warren wrote.
Warren cited Spirit's own analysis that a JetBlue deal raises antitrust concerns as evidence the agency should find the deal is against the public interest. The airline prepared the analysis for investors in May as shareholders considered competing bids from JetBlue and Frontier Group Holdings Inc.
Leah Nylen reports for Bloomberg News.
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View AllBig Law Leaders, Dealmakers Optimistic About M&A Deal Flow Under Trump, With Caveats
5 minute readDeal Watch: Are Only 'A Handful' of Law Firms Positioned Well After Citi-Apollo Partnership?
5 minute readLawyers Eye Expected Rate Cut, Expecting Large Cap M&A Boost as a Result
4 minute readAfter Unanticipated Slow Start of Year, Law Firms Are Left Waiting For M&A Rebound
3 minute readTrending Stories
- 1OIG Progress Puts Connecticut in Leadership Position
- 2Bankruptcy Judge to Step Down in 2025
- 3Justices Seek Solicitor General's Views on Music Industry's Copyright Case Against ISP
- 4Judge to hear arguments on whether Google's advertising tech constitutes a monopoly
- 5'Big Law Had Become Too Woke': Why Bill Barr Moved On
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250