JetBlue Airways is nearing a deal to buy Spirit Airlines. Such a deal would be the culmination of JetBlue’s efforts to wrest Spirit away from Frontier Group, a rival budget carrier that had already struck a deal to buy Spirit when JetBlue swooped in with a competing offer. Spirit and Frontier yesterday called off their merger, clearing the way for the airline to come to terms with JetBlue. If the deal gains regulatory approval, it would create the fifth-largest carrier in the U.S.
Facebook parent Meta Platforms posted its first decline in revenue and issued a muted outlook on digital advertising as it contends with growing competition from rival TikTok. The company reported quarterly revenue of $28.8 billion, down 1% from a year ago and slightly below what Wall Street was expecting. It marks the first time that the company has posted a quarterly drop in revenue from the year earlier.
