JetBlue and Frontier Shares Rise as Spirit Ceases Flights
JetBlue and Frontier shares rose after Spirit Airlines ceased operations following a failed bailout. Rivals now move to capture market share in leisure hubs.
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JETBLUE AIRWAYS CORP and FRONTIER GROUP HOLDINGS INC shares rose 5% and 4% respectively on Monday morning after Spirit Airlines ceased operations. Spirit shut down on Saturday overnight, marking the first airline collapse linked to the Iran war in the United States. The exit removes 809,638 seats from the market, allowing surviving rivals to raise fares and capture Florida market share.
