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American Airlines says DOJ complaint about JetBlue alliance is 'without merit'

American Airlines Group Inc. (AAL) said Wednesday that it believes the U.S. Department of Justice's lawsuit, which alleges the air carrier's Northeast Alliance arrangement with JetBlue Airways Corp. (JBLU) violates antitrust laws, is "without merit." American said it will "defend itself vigorously." Shares of both American and JetBlue rose 0.8% in Wednesday's premarket. On Tuesday, American's stock fell 2.8% and JetBlue shares shed 4.8%, while the U.S. Global Jets ETF (JETS) fell 1.0% and the S&P 500 slipped 0.1%, after the DOJ filed the lawsuit, saying the alliance threatens competition and would lead to higher fares. Separately, American said the U.S. Department of Transportation published a clarification notice relating to the agreement reached with American and JetBlue in January, saying the agreement remains in force during the DOJ action, and that the DOT intends to defer to the DOJ to resolve the antitrust concerns.

-Tomi Kilgore

 

(END) Dow Jones Newswires

09-22-21 0750ET

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