What's Going On With JetBlue Stock Friday?

JetBlue Airways Corporation (NASDAQ:JBLU) stock is trading higher on Friday following a report suggesting Spirit Airlines is considering filing for bankruptcy.

What To Know: Back in January, a federal district court judge blocked a merger between JetBlue and Spirit, according to the Wall Street Journal. Since then, the companies have abandoned the merger, reasoning that they likely could not overcome the legal and regulatory challenges.

Currently, Spirit is in talks with bondholders and creditors regarding support for a Chapter 11 bankruptcy filing. Raymond James analyst Savanthi Syth told Reuters, “We suspect Spirit should be able to renegotiate with creditors outside of bankruptcy.”

Additionally, Spirit is planning to cut its capacity by close to 20% during the ...

Full story available on Benzinga.com