"JetBlue and Spirit Navigate Merger Appeal Amid Debt Refinancing Plans"

JetBlue and Spirit airlines have announced their decision to appeal a court ruling that blocked their planned merger. The airlines are facing challenges as their share prices fluctuate, and analysts speculate about the potential outcomes, including bankruptcy for Spirit. The merger agreement, which would have seen JetBlue acquiring Spirit, is now in question, with JetBlue potentially facing a significant reverse breakup payment to Spirit shareholders. Despite the appeal, analysts believe that the injunction may ultimately lead to JetBlue being freed from the deal, which they view as unfavorable given the current circumstances in the airline industry.