JetBlue Stock (JBLU) Lifts Off as CEO Says the Airline Isn't Planning to File for Bankruptcy
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JetBlue Airways' stock rose on April 20 after CEO Joanna Geraghty assured employees that the airline is not planning to file for bankruptcy this year. Amid rising fuel costs and financial speculation, Geraghty stated in a leaked memo that JetBlue has sufficient liquidity and access to additional capital. The airline recently secured a $500 million loan backed by aircraft. JetBlue has faced financial struggles following a failed merger with Spirit Airlines and has dealt with executive changes and increased competition since the Covid-19 pandemic.
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