Wall Street isn’t feeling JetBlue’s (JBLU) surprise bid for low-cost fare rival Spirit Airlines (SAVE).
“In the near- to medium-term, we view this as a negative for JetBlue. It is a much tougher merger to execute than the proposed Frontier-Spirit merger with greater dis-synergies primarily related to labor costs but also due to greater investments related to changing cabin layouts,” said Raymond James analyst Savanthi Syth in a research note on Wednesday. “While leverage levels appear…
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