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Stock Market News

Biden administration launches broad inquiry into air travel competition market

10/24/2024

Less than a minute

2024.10.24 14:31

WASHINGTON (Reuters) – The U.S. Justice Department’s Antitrust Division and the Transportation Department said on Thursday they are launching a broad public inquiry into the state of competition in air travel.

© Reuters. U.S. President Joe Biden delivers remarks at the New Hampshire Democratic Party Headquarters, in Concord, New Hampshire, U.S., October 22, 2024. REUTERS/Elizabeth Frantz/File Photo

President Joe Biden has made boosting airline competition a top priority and his administration has taken an aggressive approach to blocking consolidation efforts in the airline industry.

The Justice Department successfully sued to block JetBlue Airways (NASDAQ:)’ planned $3.8 billion acquisition of ultra-low-cost carrier Spirit Airlines (NYSE:) and also went to court to force JetBlue to end its U.S. northeast partnership with American Airlines (NASDAQ:).

10/24/2024

Less than a minute