JetBlue Airways stock declined 2% on Thursday. This followed reports that bankrupt Spirit Airlines is in takeover discussions with investment firm Castlelake.
The development introduces a new potential suitor for Spirit. JetBlue previously attempted, and failed, to acquire the carrier.
The market reaction underscores investor sensitivity to Spirit developments. Spirit remains a significant player in the ultra-low-cost carrier segment.
The talks between Spirit and Castlelake signal a potential new chapter in U.S. airline industry consolidation. JetBlue has been a central character in this consolidation narrative.