U.S. Markets open in 9 hrs 6 mins
  • S&P Futures

    4,699.75
    +14.75 (+0.31%)
     
  • Dow Futures

    35,787.00
    +74.00 (+0.21%)
     
  • Nasdaq Futures

    16,391.25
    +73.25 (+0.45%)
     
  • Russell 2000 Futures

    2,263.80
    +9.90 (+0.44%)
     
  • Crude Oil

    71.80
    -0.25 (-0.35%)
     
  • Gold

    1,789.80
    +5.10 (+0.29%)
     
  • Silver

    22.50
    -0.02 (-0.08%)
     
  • EUR/USD

    1.1296
    +0.0023 (+0.2033%)
     
  • 10-Yr Bond

    1.4800
    +0.0320 (+2.21%)
     
  • Vix

    21.89
    -6.06 (-21.68%)
     
  • GBP/USD

    1.3255
    +0.0013 (+0.0994%)
     
  • USD/JPY

    113.4890
    -0.0510 (-0.0449%)
     
  • BTC-USD

    50,375.27
    -731.66 (-1.43%)
     
  • CMC Crypto 200

    1,305.73
    -136.03 (-9.44%)
     
  • FTSE 100

    7,339.90
    +210.69 (+2.96%)
     
  • Nikkei 225

    28,852.92
    +397.32 (+1.40%)
     

American Airlines, JetBlue Slip on Report DoJ Will Challenge Their Alliance

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

By Dhirendra Tripathi

Investing.com – American Airlines stock (NASDAQ:AAL) fell 2% and JetBlue Airways (NASDAQ:JBLU) 3% Tuesday on a report in The Wall Street Journal that the Department of Justice is preparing to file a lawsuit challenging their partnership on antitrust grounds.

The lawsuit will argue that the alliance between the two airlines threatens competition, with the potential for making travel costlier for passengers, according to the report.

Under a code share agreement announced on July 16, the two carriers agreed to market one another’s flights at the three New York area airports and in Boston.

The carriers began implementing the partnership this year after agreeing to shed some slots at airports in New York and Washington to secure the Transportation Department’s approval. The two also agreed to certain restrictions on how they operate. However, the Justice Department says that may not be enough, according to the Journal report.

Related Articles

American Airlines, JetBlue Slip on Report DoJ Will Challenge Their Alliance

Japan's MUFG to exit U.S. retail banking in $8 billion deal with U.S. Bancorp

Universal Music dances to $55 billion in electric stock market debut