12:53 PM EDT, 06/03/2024 (MT Newswires) -- American Airlines Group ( AAL ) is appealing to overturn a decision that invalidated its alliance with JetBlue Airways ( JBLU ) claiming the ruling will prevent the company from entering new joint ventures, Bloomberg News reported Monday.

American took to a federal appeals court to argue the early decision on the Northeast Alliance was based on a legal misunderstanding of how antitrust laws work, the report added, citing American Airlines' ( AAL ) lawyer Gregory G. Garre.

Removing JetBlue ( JBLU ) "in itself is not anti-competitive" and must be linked to actual consumer harm, such as price increases or reduced output, the report quoted Garre as saying before a three-judge panel at the 1st US Circuit Court of Appeals in Boston.

Neither American Airlines ( AAL ) nor JetBlue ( JBLU ) immediately responded to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 11.56, Change: +0.05, Percent Change: +0.48