“ It is possible that no deal gets done. Both transactions faced a high hurdle for the Justice Department’s blessing because the Biden administration has vowed to crack down on consolidation.

Executives for all three airlines said their preferred deal would help them compete better with the top four U.S. carriers — American, Delta, United and Southwest — which control about three-quarters of the domestic market.

Spirit, however, has raised concerns about a JetBlue takeover because of that airline’s alliance with American in the Northeast, a partnership the Justice Department last year sued to undo.”