Spirit Airlines shares plunge after a judge blocks a deal

JetBlue Airways pulls out of deal to buy Spirit Airlines. JetBlue will not continue to sell Spirit Airlines, which has been in the news for months. Spirit Airlines is a low-cost airline with no major carrier in the U.S. and no major carriers in the country.

Spirit Airlines shares plunge 53% on Tuesday after judge blocks JetBlue merger. JetBlue's acquisition of Spirit Airlines was denied by a federal judge in Boston. The company's shares plunged 53% after the judge ruled against the merger. The judge also ruled against JetBlue’s acquisition of the company.

Spirit Airlines is looking at ways to deal with its financial challenges, including $1.1B in debt. A federal judge blocked the merger deal between it and JetBlue Airways. Spirit Airlines was looking at restructuring options following the collapse of the JetBlue-Spirit deal.