
Yet Another Value Podcast
MDC Financial Research's Michael Cohen post-closing arguments update on $JBLU / $SAVE merger trial
Dec 7, 2023
Michael D. Cohen, CEO & Director of Research at MDC Financial Research, discusses the JetBlue and Spirit Airlines merger trial. They analyze the market definition, potential harm to consumers, and the judge's leaning. Concerns about Spirit's survivability and the impact of the judge's ruling are highlighted. The government's argument, JetBlue's response, and the judge's focus on the case are discussed.
01:07:19
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Quick takeaways
- The judge is considering crafting a nuanced decision with potential conditions for approval of the JetBlue-Spirit Airlines merger.
- The defendants argued for a broader market definition and highlighted the potential for other ULCCs to fill the void if Spirit disappears.
Deep dives
The judge's leaning towards a tailored decision
The judge expressed a preference for a nuanced decision rather than a binary one. He questioned the possibility of a permanent injunction and hinted at potential conditions for approval. The judge seemed to consider tailoring an injunction or approval to specific harms or benefits, aiming for a decision that keeps all parties satisfied. He appeared to lean towards allowing the merger, but with certain conditions.
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