JetBlue CEO Denies Restructuring Amid Bond Selloff

JetBlue CEO Joanna Geraghty says the airline is not in talks with creditors, considering debt restructuring, or seeking federal assistance, pushing back against bankruptcy speculation after creditors reportedly hired restructuring advisers. The concerns follow a steep selloff in JetBlue bonds, which fell to about $47 per $100 of debt from roughly $80 earlier in the month, while the company carries about $8.4 billion in debt and lease obligations and has not posted an annual profit since 2019. JetBlue reported a $257 million third-quarter loss, up from $143 million a year earlier, as fuel costs rose sharply; revenue increased more than 20% to $2.8 billion. Geraghty said the results and progress in the airline’s underlying business offer a more positive picture than the market’s reaction, though the company’s debt burden and rising costs continue to fuel investor concern.