Spirit Mergers and Acquisitions Presentation Deck
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What is it?
The NEA, JetBlue's "First Prize," Is Already Opposed
on Grounds it Is Anticompetitive
Breaking Down the NEA
Has it been approved by
antitrust regulators?
What is Spirit's view?
How could DOJ approve a
Spirit acquisition while
litigating against the NEA or if
the NEA is allowed to remain
in place?
The Short
Source: DOJ Complaint and Press Release.
Anticompetitive,
De Facto Merger
No
Should be blocked
We have no idea!
"de facto merger between American and JetBlue [with] impact on consumers [that] extends far beyond
Massachusetts and New York." - DOJ
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The DOJ is currently in active litigation to block the NEA on grounds that it is anticompetitive
"The Northeast Alliance will cause hundreds of millions of dollars of harm to air passengers" - DOJ
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The Long
We believe the NEA is an anticompetitive alliance between JetBlue and American Airlines, the largest airline in
the world
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Spirit agrees with the DOJ that the Northeast Alliance is anticompetitive and should be blocked
Spirit is a potential witness for the DOJ in its suit and an outspoken critic of the alliance
Numerous other airlines, air travel organizations and policy non-profits have also expressed strong opposition
Spirit believes a combination of JetBlue and Spirit would make the NEA even more anticompetitive than it is
already
We asked JetBlue to abandon the NEA if required to obtain approval for an acquisition of Spirit and it has refused to do so...it
stretches credulity to believe a JetBlue acquisition would be approved while DOJ is suing to block the NEA or if the NEA is allowed
to remain in place
JetBlue's Unrealistic Regulatory
Analysis Results in an Illusory Offer
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