Following a disappointing fourth financial quarter forecast, U.S. airline JetBlue’s stock tumbled 10% on Tuesday.
Trading at $3.76 per share, this marks JetBlue’s lowest share value in nearly 12 years.
The news comes as JetBlue prepares to head to trial to defend its planned acquisition of Spirit Airlines in an antitrust case with the U.S. Justice Department.
According to the Justice Department, “the proposed transaction will increase fares and reduce choice on routes across the country, raising costs for the flying public and harming cost-conscious fliers most acutely.”
