However, earlier this year, the Justice Department filed a lawsuit seeking to block the proposed merger of JetBlue and Spirit, stating that it would lead to increased fares. Our detailed analysis of JetBlue’s upside post-inflation shock captures trends in the company’s stock during the turbulent market conditions seen over 2022. That said, uncertainties around its Spirit acquisition and the pressure on the company’s balance sheet and operating margins remains a risk factor to realizing these gains.