Spirit wins takeoff and landing rights at key Newark airport

By AP News

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WASHINGTON (AP) — Spirit Airlines will get valuable takeoff and landing times that Southwest Airlines is abandoning at busy Newark-Liberty International Airport near New York City.

WASHINGTON (AP) — Spirit Airlines will get valuable takeoff and landing times that Southwest Airlines is abandoning at busy Newark-Liberty International Airport near New York City.

The U.S. Transportation Department said Tuesday that Spirit “is most likely to provide the lowest fares to the most consumers” at the airport in Newark, New Jersey.

JetBlue Airways — which is locked in a bidding war with Frontier Airlines to buy Spirit — also tried to get the 16 available slots, and Alaska Airlines applied for four of them.

Southwest acquired the takeoff and landing rights at the congested airport in 2010, after the Justice Department required United Airlines to give them as a condition of buying Continental Airlines. United is still the dominant airline at Newark. Southwest dropped Newark in 2019 to consolidate its area service at New York's LaGuardia Airport.

Federal officials limit takeoff and landing rights at big airports in New York and Washington in an attempt to avoid gridlock.

The Transportation Department said that because of concern about canceled and delayed flights, it will require Spirit to report more than the usual amount of information about any disruptions at Newark.

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Companies:
United Airlines
Caleres
Southwest Airlines
JetBlue Airways

Author: AP News

This article does not provide any financial advice and is not a recommendation to deal in any securities or product. Investments may fall in value and an investor may lose some or all of their investment. Past performance is not an indicator of future performance.

Originally published by Associated Press Valuethemarkets.com, Digitonic Ltd (and our owners, directors, officers, managers, employees, affiliates, agents and assigns) are not responsible for the content or accuracy of this article. The information included in this article is based solely on information provided by the company or companies mentioned above.

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