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

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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.

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