JetBlue creditors are reportedly working with restructuring adviser PJT Partners
JBLU•A senior group of JetBlue creditors is reportedly working with restructuring adviser PJT Partners. JetBlue reported $1.66 billion in cash and cash equivalents and $8.5 billion in debt and finance lease obligations as of June 30.
1. Creditors hire adviser
A senior creditors group to JetBlue Airways is working with restructuring adviser PJT Partners, the Wall Street Journal reported, citing people familiar with the matter.
2. JetBlue finances and plans
As of June 30, JetBlue had $1.66 billion in cash and cash equivalents, alongside $8.5 billion of debt and finance lease obligations. The carrier is pursuing a financial and operational overhaul to reduce costs and plans to boost its premium offerings.
3. Fuel costs pressure airlines
Higher jet fuel expenses linked to the Iran war have pressured US airline margins despite higher airfares and steady travel demand. JetBlue shares have fallen 42% this year and remained volatile in extended trading.
