Airline Stocks Slip as Spirit Pilots Ratify Restructuring Pact

Shares of US airlines are trading lower on Thursday after the pilots of Spirit Airlines ratified modifications to their collective bargaining agreement that support Spirit’s ongoing Chapter 11 restructuring.

• JetBlue shares fall as much as 7.3%, the most intraday since late October; Peers Frontier Group -3.2% and Allegiant -1.5%
  • NOTE: Spirit recently engaged in talks with Frontier after rejecting the company’s earlier merger offer; JetBlue’s $3.8 billion deal was blocked last year.
• READ: Spirit Airlines Pilots Ratify Restructuring Agreement
• The pilots of Spirit Airlines, represented by the Air Line Pilots Association, International (ALPA), have ratified modifications to their collective bargaining agreement ...