FX.co ★ Spirit Airlines Sinks On Cancellation Of Merger Agreement With JetBlue

Shares in Spirit Airlines, Inc. (SAVE) have plummeted over 14 percent this Monday morning following the company’s announcement that it has terminated its merger agreement with JetBlue Airways. The merger was previously hindered by a U. S. court in January due to concerns over competitive practices.

Ted Christie, President and Chief Executive Officer of Spirit, commented on the termination, stating, "We have concluded that the existing regulatory hindrances will not allow us to finalize this transaction promptly as per the merger agreement."

At present, Spirit's stock is valued at $5.71, having fluctuated between $4.04 and $19.69 over the past year.