New York CNN —
JetBlue Airways announced Monday it is pulling out of its deal to purchase Spirit Airlines.
The decision comes in the wake of a federal court ruling blocking the deal from taking place on antitrust grounds. The Justice Department had argued that airfares could go up if Spirit was no longer an independent airline.
Spirit has been a leader in the segment of the airline industry that offers very low, no-frills base fares that required passengers to pay extra for everything, including carry-on baggage.
JetBlue agreed to pay Spirit $69 million
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