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JetBlue Creditors Hire Advisers as Airline’s Shares, Bonds Sink
WSJ • • business
Key Points:
- Senior creditors of JetBlue Airways are collaborating with financial adviser PJT Partners and law firm Akin as the airline faces cash burn and rising oil prices.
- JetBlue’s bonds experienced a significant decline this week following a recent bondholder call, reflecting investor concerns.
- The airline’s $2 billion notes due 2031 dropped to 42 cents on the dollar on Thursday, later recovering slightly to the mid-40s on Friday.
- Earlier in the month, these bonds were trading near 80 cents on the dollar, indicating a sharp decrease in market confidence.
