Articles tagged “jetblue-spirit merger”

Some Wall Street analysts had speculated that if Spirit wasn’t able to reach refinance or extend the deadline on a credit card processing agreement, then bankruptcy could have been on the table.

Just months ago, Spirit CEO Ted Christie said the budget carrier was not considering a chapter 11 bankruptcy.

JetBlue CEO Joanna Geraghty said at the Skift Global Forum that JetBlue is focused on its “core strategy” as it seeks to become consistently profitable.

It looks like JetBlue’s new strategy that emphasizes cutting unprofitable routes and bolstering leisure capacity in the East Coast is continuing to pay off.

JetBlue’s strategy of cutting unprofitable routes and focusing on its core markets is starting to see returns — the carrier unexpectedly reported a profit in the second quarter.

The ultra-low-cost carrier lowered its revenue outlook for the second quarter, blaming softer ancillary sales.

Spirit’s CEOs comments come as S&P downgraded the carrier’s credit rating earlier this week, potentially hurting its ability to refinance its debt. The carrier has $1.1 billion in debt set to mature in September 2025.

Almost a third of the airline's long-haul European capacity is being cut as it redeploys aircraft and resources to routes in the Americas.

Spirit CEO Ted Christie had some choice words for the current state of the airline industry as the ultra-low-cost carrier reported a greater first-quarter loss.

JetBlue reported a $716 million loss on Tuesday as it recalibrates its strategy as a standalone carrier following the termination of its merger with Spirit Airlines.