00:00It's Benzinga, bringing Wall Street to Main Street.
00:02A House Judiciary Subcommittee will hold a June 24 hearing on competition and regulation
00:07in the U.S. airline industry following the collapse of Spirit Airlines, according to Reuters.
00:13Airlines for America CEO Chris Sununu is expected to testify.
00:18Republicans plan to argue that Biden administration policies failed to save jobs,
00:22while Democrats will highlight Trump administration efforts to roll back
00:25consumer protections, and void airline fines. Spirit collapsed after creditors rejected
00:30Trump's proposed $500 million rescue deal, resulting in about 15,000 job losses.
00:36The Trump administration blamed Biden's blocking of a JetBlue Spirit merger in 2024
00:41for the carrier's downfall. Wheel Biden officials rejected that claim.
00:45The hearing comes as regulators have closed probes into Delta and Southwest without penalty
00:50and withdrawn a Biden-era proposal requiring cash compensation for flight disruptions.
00:54For all things money, visit Benzinga.com.
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