11:50 AM EST, 03/04/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

Today, JBLU announced it has reached an agreement with SAVE to terminate its merger agreement. The termination comes after the U.S. District Courts blocked the merger in January due to antitrust concerns. We are unsurprised by the announcement, given that both airlines would have had an uphill battle trying to reverse the court's decision to block the merger. With the deal finally dead, SAVE will receive $69M in breakup fees from JBLU; however, it won't be enough to deal with the $1.1B in debt maturing in 2025. In January, SAVE noted it would be exploring options to refinance its near-term debt; however, if unsuccessful in refinancing or if another airline does not make an offer to acquire the airline, we believe SAVE could face significant headwinds in raising enough capital to retire its 2025 debt obligations. Our 12-month target of $5, down $2, reflects a 4.0x multiple of EV to projected 2025 EBITDA, a discount to SAVE's historical average. We keep our 2024 loss per share at -$3.78 and 2025's at -$3.07.