JetBlue’s $3.8 Billion Spirit Deal Turns Into a Nightmare (2)

It was supposed to be the merger from heaven — or at least, from 30,000 feet.

But now, the collapse of the $3.8 billion deal between JetBlue Airways Corp. and Spirit Airlines Inc. over antitrust concerns leaves the two carriers adrift, upending the low-cost travel sector and tarnishing the legacy of JetBlue’s swashbuckling CEO as he heads for the exits.

A federal judge’s decision to scuttle the buyout means JetBlue will continue to be relegated to second-tier status behind the industry’s big four carriers — United Airlines Holdings Inc., American Airlines Group Inc., Delta Air Lines Inc. and ...