US Airways defended its proposed merger with American Airlines on Tuesday, arguing that the deal would create $500 million in savings to consumers annually by building a stronger competitor to Delta Air Lines Inc and United Continental. The Justice Department filed a lawsuit on Aug. 13 to stop the $11 billion deal between US Airways Group and American's parent AMR Corp. The government argues the merger would violate antitrust laws because it would lead to higher airfares and related fees.In November, a judge will hear the case without a jury and decide whether the merger should go forward.US Airways, in a filing Tuesday evening, argued that the deal was lawful and should be allowed to go forward. "Conservative estimates place the net benefits to consumers at more than $500 million annually," the company wrote in its 50-page filing.US Airways accused the Justice Department of ignoring the rise of small, aggressive low-cost carriers such as JetBlue Airways and Spirit Airlines, saying that they, along with Southwest Airlines Co and regional airlines, now carry 40 percent of U.S. air traffic.
Delta Air Lines, Inc. (Delta) provides scheduled air transportation for passengers and cargo throughout the United States and around the world. Shares of DAL traded higher by 4.0% or $0.87/share to $22.63. In the past year, the shares have traded as low as $8.89 and as high as $22.05. On average, 11486100 shares of DAL exchange hands on a given day and today's volume is recorded at 206372256.
JetBlue Airways Corporation (JetBlue) is a passenger airline that operates primarily on point-to-point routes with its fleet of 120 Airbus A320 aircraft and 49 EMBRAER 190 aircraft. Shares of JBLU traded higher by 5.5% or $0.345/share to $6.62. In the past year, the shares have traded as low as $4.76 and as high as $7.28. On average, 3164240 shares of JBLU exchange hands on a given day and today's volume is recorded at 6310711.
US Airways Group, Inc. operates and owns passenger and freight airline carrier. Shares of LCC traded higher by 3.72% or $0.65/share to $18.12. In the past year, the shares have traded as low as $10.15 and as high as $19.70. On average, 6650520 shares of LCC exchange hands on a given day and today's volume is recorded at 5828029.
Southwest Airlines Co. operates Southwest Airlines, a passenger airline, which provides scheduled air transportation in the United States. Shares of LUV traded higher by 4.75% or $0.63/share to $13.90. In the past year, the shares have traded as low as $8.68 and as high as $14.56. On average, 5825100 shares of LUV exchange hands on a given day and today's volume is recorded at 8805283.
Spirit Airlines, Inc. (Spirit) is an airline company. Shares of SAVE traded higher by 2.96% or $0.94/share to $32.75. In the past year, the shares have traded as low as $15.64 and as high as $36.83. On average, 748323 shares of SAVE exchange hands on a given day and today's volume is recorded at 2054838.
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