It has been about a month since the last earnings report for JetBlue Airways (JBLU) . Shares have lost about 24% in that time frame, underperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is JetBlue due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. Q2 Earnings Beat at JetBlueJetBlue's second-q ...

The airline is raising cash ahead of a potential downturn.JetBlue Airways (JBLU 1.52%) charted a course for the debt market this week, raising more than $3 billion through a series of three deals.The money raised will be useful to refinance some debt coming due in the years to come and as a cushion against a potential downturn. But it also changes the airline's leverage profile. Investors are concerned, sending JetBlue shares down 22% for the week as of Thursday afternoon, according to data provided by S&P ...

NEW YORK, N.Y., Aug. 14, 2024 (GLOBE NEWSWIRE) -- JetBlue Airways Corporation (NASDAQ: JBLU) (“JetBlue”) today announced that JetBlue and JetBlue Loyalty, LP (the “Loyalty LP” and, together with JetBlue, the “Issuers”), a newly formed Cayman Islands exempted limited partnership and an indirect wholly-owned subsidiary of JetBlue, priced their (1) $2,000 million aggregate principal amount of 9.875% senior secured notes due 2031 (the “Notes”) and (2) $765 million senior secured Term Loan B due 2029 (the “Term ...

NEW YORK, N.Y., Aug. 12, 2024 (GLOBE NEWSWIRE) --  JetBlue Airways Corporation (NASDAQ: JBLU) (“JetBlue”) today announced the pricing of $400 million aggregate principal amount of its 2.50% convertible senior notes due 2029 (the “notes”). JetBlue granted the initial purchasers of the notes an option to purchase up to an additional $60 million aggregate principal amount of the notes. JetBlue expects to close the offering on or about August 16, 2024, subject to the satisfaction of customary conditions. In cer ...

Ratings agencies S&P and Moody's downgraded JetBlue Airways after the carrier unveiled plans to raise more than $3 billion in debt, majority backed by its loyalty program, TrueBlue. Shares of the New York-based company plummeted 19%.JetBlue intends to raise $1.5 billion through a private offering of senior secured notes and an additional $1.25 billion via a term loan, secured by TrueBlue. It also plans to raise $400 million through a convertible notes offering, primarily to refinance existing debt.S&P downg ...

Core Insights - JetBlue shares fell over 21% after announcing plans to raise over $3 billion in debt and receiving credit downgrades from major rating agencies [1][3] - S&P Global and Moody's downgraded JetBlue's credit ratings, while Fitch Ratings maintained its rating but downgraded its senior secured debt ratings [2][3] - Moody's indicated that it may take JetBlue "a number of years" to improve its operating profit and cash flow sufficiently for an upgrade [2] Debt Financing Details - JetBlue plans to raise $1.5 billion through a private offering of senior secured notes, $1.25 billion via a term loan secured by its loyalty program TrueBlue, and $400 million through a convertible notes offering [1] Credit Rating Changes - Moody's downgraded JetBlue's rating to B3 from B2, citing rising competition and increased consumer demand for premium offerings as challenges [2] - S&P Global cut JetBlue's issuer credit rating to B- from B, predicting continued weakness due to excess industry capacity and higher labor costs [2] - Fitch Ratings maintained a B rating for JetBlue, noting a healthy liquidity balance but downgraded its senior secured debt ratings to BB-/RR2 from BB/RR1 [3] Stock Performance - JetBlue shares dropped to $4.75 in afternoon trading, marking a loss of over 14% since the beginning of the year [3]

JetBlue (NASDAQ:JBLU) stock is falling hard on Monday after the airline company announced a $400 million senior secured notes offering.JetBlue is selling $400 million worth of senior secured notes due in 2029. Additionally, initial investors in this offering will have a 13-day option to acquire another $60 million worth of senior secured notes.JetBlue says that it will use some of the funds from this offer to repurchase its 0.50% senior convertible notes due 2026. The rest will go toward general corporate p ...

Core Viewpoint - JetBlue Airways Corporation plans to offer $400 million in convertible senior notes due 2029, with an option for initial purchasers to buy an additional $60 million within 13 days of issuance, aiming to repurchase existing convertible notes due 2026 and cover related expenses [1] Group 1: Offering Details - The offering consists of $400 million aggregate principal amount of convertible senior notes due 2029 [1] - Initial purchasers may buy up to an additional $60 million within a 13-day period from the original issuance date [1] - Net proceeds will be used to repurchase existing 0.50% senior convertible notes due 2026 and to pay related fees and expenses [1] Group 2: Regulatory and Compliance Information - The notes will be offered only to "qualified institutional buyers" under Rule 144A, exempt from registration under the Securities Act [3] - The notes and any shares of common stock upon conversion will not be registered under the Securities Act or state laws, and cannot be offered or sold in the U.S. without registration or an exemption [3] Group 3: Company Overview - JetBlue is recognized as New York's Hometown Airline® and operates in key markets including Boston, Fort Lauderdale-Hollywood, Los Angeles, Orlando, and San Juan [7] - The airline serves over 100 destinations across the U.S., Latin America, the Caribbean, Canada, and Europe [7]

NEW YORK, N.Y., Aug. 12, 2024 (GLOBE NEWSWIRE) -- JetBlue Airways Corporation (NASDAQ: JBLU) (“JetBlue”) today announced that JetBlue and JetBlue Loyalty, LP (the “Loyalty LP” and, together with JetBlue, the “Issuers”), a newly formed Cayman Islands exempted limited partnership and an indirect wholly-owned subsidiary of JetBlue, intend to (1) commence a private offering of a proposed $1,500 million aggregate principal amount of senior secured notes due 2031 (the “Loyalty Notes”) and (2) launch a proposed se ...

JetBlue Airways’ (JBLU) second-quarter 2024 earnings (excluding one cent per share from non-recurring items) of 8 cents per share beat the Zacks Consensus Estimate of a loss of 13 cents. In the year-ago quarter, JBLU reported earnings of 45 cents.Operating revenues of $2.43 billion beat the Zacks Consensus Estimate of $2.39 billion. However, the top line decreased 7% year over year.Passenger revenues, accounting for the bulk of the top line (93.4%), declined to $2.26 billion from $2.46 billion a year ago. P ...