Judge blocks JetBlue's $3.8 billion acquisition of Spirit, saying the deal would reduce airline competition

• A judge blocked JetBlue's deal to buy Spirit. 
• Biden's Justice Department said the merger would drive up airline prices. 
• Shares of Spirit plunged more than 50% right after the ruling. 

A federal judge is siding with the Biden administration and blocking JetBlue Airways from buying Spirit Airlines, saying the $3.8 billion deal would reduce competition.