Spirit Airlines posted a large loss for its first quarter earnings on Monday as the company struggles to gain steam after the Biden administration successfully prevented its acquisition by JetBlue.
The budget airline posted a net income loss of around $142 million, 37.3% more than this time last year, when the company lost around $104 million, according to the company’s 2024 first quarter results. Competing airliner JetBlue had planned to acquire Spirit in the first half of 2024, creating the fifth biggest airline from the sixth and seventh and allowing it to better compete with other rivals, but it was blocked by a federal judge in January due to an antitrust suit by the Department of Justice (DOJ) under Biden. (RELATED: Red State Taxpayers Are At Risk Of Being Latest Victims Of Electric Vehicle Gambles)
Spirit’s revenues declined in the first quarter by 6.2% year-over-year to…
