(MT Newswires) -- JetBlue has abandoned its planned takeover of Spirit Airlines following a court ruling blocking the $3.8 billion deal. Investors appear to approve JetBlue's withdrawal, while Spirit faces uncertainty. The January court ruling had warned that the deal would violate antitrust laws, driving up prices and eliminating competition.

The impact of activist investor Carl Icahn's recent addition to JetBlue's board of directors, where he now holds two seats after acquiring 10% of the shares, on the company's decision remains undetermined.

JetBlue will have to pay Spirit a termination fee of 69 million dollars. Concerns remain high for Spirit, which must find solutions to finance its $1.5 billion debt this year. 

According to analyses by Bloomberg Intelligence, Spirit, the low-cost airline, could be considering a judicial reorganisation or liquidation, as the failure of the JetBlue takeover has considerably reduced its strategic options.

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