"JetBlue and Spirit Airlines Terminate $3.8 Billion Merger Deal Over Regulatory Issues"

JetBlue Airways has decided to pull out of its deal to purchase Spirit Airlines following a federal court ruling blocking the merger on antitrust grounds. The decision could lead to a new bidding war for Spirit and potentially result in bankruptcy and liquidation for the struggling airline. The US airline industry has seen significant consolidation over the years, leading to fewer choices for travelers and potentially higher fares. Both JetBlue and Spirit face their own financial challenges, with Spirit reporting losses and JetBlue dealing with an activist investor's stake in the company.