American Airlines, JetBlue stocks drop on report DOJ preparing to sue over alliance

The Justice Department is readying a lawsuit challenging American Airlines Group Inc.'s /zigman2/quotes/209207041/composite AAL +1.60% partnership with JetBlue Airways Corp. /zigman2/quotes/207639051/composite JBLU +1.79% on antitrust concerns, The Wall Street Journal reported, citing people familiar with the matter. The suit could come as soon as today, and is expected to argue that the alliance hurts competition and would result in higher fares, the newspaper reported. The alliance was announced in July 2020. In midday trading Tuesday, shares of American Airlines were down more than 2% and shares of JetBlue fell more than 3%, compared with a loss of around 0.9% for the U.S. Global JETS ETF /zigman2/quotes/207744796/composite JETS +1.33% and gains of about 0.2% for the S&P 500 index. /zigman2/quotes/210599714/realtime SPX +0.16%

/zigman2/quotes/209207041/composite

Add to watchlist AAL

American Airlines Group Inc.

US : U.S.: Nasdaq

$ 13.94

+0.22 +1.60%

Volume: 17.13M

March 27, 2023 4:00p

P/E Ratio

1,315

Dividend Yield

0.00%

Market Cap

$8.94 billion

Rev. per Employee

$377,571

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Add to watchlist JBLU

JetBlue Airways Corp.

US : U.S.: Nasdaq

$ 6.82

+0.12 +1.79%

Volume: 6.19M

March 27, 2023 4:00p

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

$2.19 billion

Rev. per Employee

N/A

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Add to watchlist JETS

U.S. Global Jets ETF

US : U.S.: NYSE Arca

$ 17.52

+0.23 +1.33%

Volume: 1.87M

March 27, 2023 4:00p

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Add to watchlist SPX

S&P 500 Index

US : S&P US

3,977.53

+6.54 +0.16%

Volume: 0.00

March 27, 2023 5:00p