Originally Posted by
Noisecanceller
spirit management is to blame yes. Biden administration is 100% to blame. If they had not contested the merger it would be half way completed and some bank would have infused plenty of cash to overcome any headwinds until we could start making money w an 8000 pilot airline and diversified profitable product line.
The Biden administration can hardly be blamed for finally enforcing an antitrust law that should have been enforced for decades. By a plain reading of the Clayton Act, the merger was illegal. The judge agreed. Plain and simple. JetBlue could have appealed, but they chose not to. They wanted out, or they didn’t think they could win on appeal. Spirit management warned the shareholders about this. They knew too.
Especially in conservative circles, claims are made that judges are “activists” seeking results and need to instead follow the “text” of the law. Well… that’s exactly what both the DOJ and the judge did in this case. They followed the text of the law.
I agree that the best outcome would’ve been for the merger to be approved and I feel awful for you guys, but let’s be real about where the blame lies.