Intrinsic value of JetBlue Airways - JBLU

Previous Close

$18.17

  Intrinsic Value

$33.45

stock screener

  Rating & Target

str. buy

+84%

Previous close

$18.17

 
Intrinsic value

$33.45

 
Up/down potential

+84%

 
Rating

str. buy

We calculate the intrinsic value of JBLU stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 5.8

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
Revenue, $m
  7,366
  7,734
  8,121
  8,527
  8,953
  9,401
  9,871
  10,364
  10,883
  11,427
  11,998
  12,598
  13,228
  13,889
  14,584
  15,313
  16,079
  16,882
  17,727
  18,613
  19,544
  20,521
  21,547
  22,624
  23,755
  24,943
  26,190
  27,500
  28,875
  30,318
Variable operating expenses, $m
  5,907
  6,203
  6,513
  6,838
  7,180
  7,539
  7,916
  8,312
  8,728
  9,164
  9,622
  10,104
  10,609
  11,139
  11,696
  12,281
  12,895
  13,540
  14,217
  14,928
  15,674
  16,458
  17,280
  18,145
  19,052
  20,004
  21,005
  22,055
  23,158
  24,315
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  5,907
  6,203
  6,513
  6,838
  7,180
  7,539
  7,916
  8,312
  8,728
  9,164
  9,622
  10,104
  10,609
  11,139
  11,696
  12,281
  12,895
  13,540
  14,217
  14,928
  15,674
  16,458
  17,280
  18,145
  19,052
  20,004
  21,005
  22,055
  23,158
  24,315
Operating income, $m
  1,458
  1,531
  1,608
  1,688
  1,773
  1,861
  1,954
  2,052
  2,155
  2,262
  2,376
  2,494
  2,619
  2,750
  2,888
  3,032
  3,184
  3,343
  3,510
  3,685
  3,870
  4,063
  4,266
  4,480
  4,704
  4,939
  5,186
  5,445
  5,717
  6,003
EBITDA, $m
  1,926
  2,022
  2,123
  2,230
  2,341
  2,458
  2,581
  2,710
  2,846
  2,988
  3,137
  3,294
  3,459
  3,632
  3,813
  4,004
  4,204
  4,415
  4,635
  4,867
  5,110
  5,366
  5,634
  5,916
  6,212
  6,522
  6,848
  7,191
  7,550
  7,928
Interest expense (income), $m
  0
  89
  107
  127
  148
  169
  192
  216
  241
  267
  295
  324
  354
  386
  420
  455
  492
  531
  571
  614
  659
  706
  756
  808
  863
  920
  980
  1,043
  1,110
  1,180
  1,253
Earnings before tax, $m
  1,370
  1,424
  1,481
  1,541
  1,604
  1,669
  1,739
  1,811
  1,888
  1,968
  2,052
  2,140
  2,233
  2,331
  2,433
  2,540
  2,653
  2,771
  2,896
  3,026
  3,163
  3,307
  3,458
  3,617
  3,784
  3,959
  4,142
  4,335
  4,538
  4,750
Tax expense, $m
  370
  384
  400
  416
  433
  451
  469
  489
  510
  531
  554
  578
  603
  629
  657
  686
  716
  748
  782
  817
  854
  893
  934
  977
  1,022
  1,069
  1,118
  1,170
  1,225
  1,283
Net income, $m
  1,000
  1,040
  1,081
  1,125
  1,171
  1,219
  1,269
  1,322
  1,378
  1,437
  1,498
  1,562
  1,630
  1,701
  1,776
  1,854
  1,937
  2,023
  2,114
  2,209
  2,309
  2,414
  2,525
  2,640
  2,762
  2,890
  3,024
  3,165
  3,312
  3,468

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  10,273
  10,787
  11,326
  11,892
  12,487
  13,111
  13,767
  14,455
  15,178
  15,937
  16,734
  17,570
  18,449
  19,371
  20,340
  21,357
  22,425
  23,546
  24,723
  25,959
  27,257
  28,620
  30,051
  31,554
  33,131
  34,788
  36,527
  38,354
  40,272
  42,285
Adjusted assets (=assets-cash), $m
  10,273
  10,787
  11,326
  11,892
  12,487
  13,111
  13,767
  14,455
  15,178
  15,937
  16,734
  17,570
  18,449
  19,371
  20,340
  21,357
  22,425
  23,546
  24,723
  25,959
  27,257
  28,620
  30,051
  31,554
  33,131
  34,788
  36,527
  38,354
  40,272
  42,285
Revenue / Adjusted assets
  0.717
  0.717
  0.717
  0.717
  0.717
  0.717
  0.717
  0.717
  0.717
  0.717
  0.717
  0.717
  0.717
  0.717
  0.717
  0.717
  0.717
  0.717
  0.717
  0.717
  0.717
  0.717
  0.717
  0.717
  0.717
  0.717
  0.717
  0.717
  0.717
  0.717
Average production assets, $m
  8,043
  8,446
  8,868
  9,311
  9,777
  10,266
  10,779
  11,318
  11,884
  12,478
  13,102
  13,757
  14,445
  15,167
  15,925
  16,722
  17,558
  18,436
  19,357
  20,325
  21,342
  22,409
  23,529
  24,705
  25,941
  27,238
  28,600
  30,030
  31,531
  33,108
Working capital, $m
  -1,569
  -1,647
  -1,730
  -1,816
  -1,907
  -2,002
  -2,102
  -2,208
  -2,318
  -2,434
  -2,556
  -2,683
  -2,818
  -2,958
  -3,106
  -3,262
  -3,425
  -3,596
  -3,776
  -3,965
  -4,163
  -4,371
  -4,589
  -4,819
  -5,060
  -5,313
  -5,579
  -5,857
  -6,150
  -6,458
Total debt, $m
  1,451
  1,716
  1,994
  2,286
  2,593
  2,915
  3,254
  3,609
  3,982
  4,373
  4,785
  5,216
  5,670
  6,146
  6,645
  7,170
  7,721
  8,300
  8,907
  9,545
  10,215
  10,918
  11,656
  12,432
  13,246
  14,101
  14,998
  15,941
  16,930
  17,969
Total liabilities, $m
  5,301
  5,566
  5,844
  6,136
  6,443
  6,765
  7,104
  7,459
  7,832
  8,223
  8,635
  9,066
  9,520
  9,996
  10,495
  11,020
  11,571
  12,150
  12,757
  13,395
  14,065
  14,768
  15,506
  16,282
  17,096
  17,951
  18,848
  19,791
  20,780
  21,819
Total equity, $m
  4,972
  5,221
  5,482
  5,756
  6,044
  6,346
  6,663
  6,996
  7,346
  7,713
  8,099
  8,504
  8,929
  9,376
  9,844
  10,337
  10,854
  11,396
  11,966
  12,564
  13,193
  13,852
  14,545
  15,272
  16,036
  16,837
  17,679
  18,563
  19,491
  20,466
Total liabilities and equity, $m
  10,273
  10,787
  11,326
  11,892
  12,487
  13,111
  13,767
  14,455
  15,178
  15,936
  16,734
  17,570
  18,449
  19,372
  20,339
  21,357
  22,425
  23,546
  24,723
  25,959
  27,258
  28,620
  30,051
  31,554
  33,132
  34,788
  36,527
  38,354
  40,271
  42,285
Debt-to-equity ratio
  0.290
  0.330
  0.360
  0.400
  0.430
  0.460
  0.490
  0.520
  0.540
  0.570
  0.590
  0.610
  0.630
  0.660
  0.680
  0.690
  0.710
  0.730
  0.740
  0.760
  0.770
  0.790
  0.800
  0.810
  0.830
  0.840
  0.850
  0.860
  0.870
  0.880
Adjusted equity ratio
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484
  0.484

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  1,000
  1,040
  1,081
  1,125
  1,171
  1,219
  1,269
  1,322
  1,378
  1,437
  1,498
  1,562
  1,630
  1,701
  1,776
  1,854
  1,937
  2,023
  2,114
  2,209
  2,309
  2,414
  2,525
  2,640
  2,762
  2,890
  3,024
  3,165
  3,312
  3,468
Depreciation, amort., depletion, $m
  468
  491
  516
  541
  568
  597
  627
  658
  691
  725
  762
  800
  840
  882
  926
  972
  1,021
  1,072
  1,125
  1,182
  1,241
  1,303
  1,368
  1,436
  1,508
  1,584
  1,663
  1,746
  1,833
  1,925
Funds from operations, $m
  1,468
  1,531
  1,597
  1,666
  1,739
  1,816
  1,896
  1,980
  2,069
  2,162
  2,260
  2,362
  2,470
  2,583
  2,702
  2,827
  2,957
  3,095
  3,239
  3,391
  3,550
  3,717
  3,893
  4,077
  4,270
  4,473
  4,687
  4,911
  5,146
  5,393
Change in working capital, $m
  -75
  -78
  -82
  -86
  -91
  -95
  -100
  -105
  -110
  -116
  -122
  -128
  -134
  -141
  -148
  -155
  -163
  -171
  -180
  -189
  -198
  -208
  -219
  -229
  -241
  -253
  -266
  -279
  -293
  -308
Cash from operations, $m
  1,542
  1,609
  1,679
  1,753
  1,830
  1,911
  1,996
  2,085
  2,179
  2,278
  2,381
  2,490
  2,604
  2,724
  2,850
  2,982
  3,121
  3,266
  3,419
  3,580
  3,748
  3,925
  4,111
  4,306
  4,511
  4,726
  4,952
  5,189
  5,439
  5,700
Maintenance CAPEX, $m
  -445
  -468
  -491
  -516
  -541
  -568
  -597
  -627
  -658
  -691
  -725
  -762
  -800
  -840
  -882
  -926
  -972
  -1,021
  -1,072
  -1,125
  -1,182
  -1,241
  -1,303
  -1,368
  -1,436
  -1,508
  -1,584
  -1,663
  -1,746
  -1,833
New CAPEX, $m
  -383
  -402
  -422
  -443
  -466
  -489
  -513
  -539
  -566
  -594
  -624
  -655
  -688
  -722
  -758
  -796
  -836
  -878
  -922
  -968
  -1,016
  -1,067
  -1,120
  -1,176
  -1,235
  -1,297
  -1,362
  -1,430
  -1,501
  -1,577
Cash from investing activities, $m
  -828
  -870
  -913
  -959
  -1,007
  -1,057
  -1,110
  -1,166
  -1,224
  -1,285
  -1,349
  -1,417
  -1,488
  -1,562
  -1,640
  -1,722
  -1,808
  -1,899
  -1,994
  -2,093
  -2,198
  -2,308
  -2,423
  -2,544
  -2,671
  -2,805
  -2,946
  -3,093
  -3,247
  -3,410
Free cash flow, $m
  713
  739
  766
  794
  823
  854
  886
  920
  955
  993
  1,032
  1,073
  1,116
  1,162
  1,210
  1,260
  1,312
  1,367
  1,425
  1,486
  1,550
  1,617
  1,688
  1,762
  1,840
  1,921
  2,007
  2,097
  2,191
  2,290
Issuance/(repayment) of debt, $m
  252
  265
  278
  292
  307
  322
  338
  355
  373
  392
  411
  432
  453
  476
  500
  525
  551
  579
  607
  638
  670
  703
  738
  775
  814
  855
  898
  942
  990
  1,039
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  252
  265
  278
  292
  307
  322
  338
  355
  373
  392
  411
  432
  453
  476
  500
  525
  551
  579
  607
  638
  670
  703
  738
  775
  814
  855
  898
  942
  990
  1,039
Total cash flow (excl. dividends), $m
  965
  1,004
  1,044
  1,086
  1,130
  1,176
  1,224
  1,275
  1,328
  1,384
  1,443
  1,505
  1,570
  1,638
  1,709
  1,784
  1,863
  1,946
  2,033
  2,124
  2,220
  2,321
  2,426
  2,537
  2,654
  2,776
  2,904
  3,039
  3,181
  3,329
Retained Cash Flow (-), $m
  -240
  -249
  -261
  -274
  -288
  -302
  -317
  -333
  -350
  -367
  -386
  -405
  -425
  -446
  -469
  -492
  -517
  -543
  -570
  -598
  -628
  -660
  -693
  -727
  -764
  -802
  -842
  -884
  -928
  -975
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  725
  756
  783
  812
  842
  874
  907
  942
  979
  1,017
  1,058
  1,100
  1,145
  1,191
  1,241
  1,292
  1,346
  1,403
  1,463
  1,526
  1,592
  1,661
  1,734
  1,810
  1,890
  1,974
  2,062
  2,155
  2,252
  2,355
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  695
  692
  681
  668
  653
  634
  613
  589
  562
  533
  502
  469
  435
  400
  364
  328
  293
  258
  225
  194
  165
  138
  114
  92
  74
  58
  44
  33
  25
  18
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

JetBlue Airways Corporation is a passenger carrier company. The Company provides air transportation services across the United States, the Caribbean and Latin America. Its segments include Domestic, and Caribbean & Latin America. It operates various kinds of aircrafts, including Airbus A321, Airbus A320 and Embraer E190. It also provides premium transcontinental product called Mint. As of December 31, 2016, Mint included 16 fully lie-flat seats, four of which were in suites with a privacy door. The Company also provides Fly-Fi in-flight Internet service across its Airbus fleet. It provides its customers a choice to purchase tickets from three branded fares, which include Blue, Blue Plus and Blue Flex. Each of these fare include different offerings, such as free checked bags, reduced change fees and additional TrueBlue points. As of December 31, 2016, its Airbus A321 aircraft in a single cabin layout had 200 seats and those with Mint premium service had a seating capacity of 159 seats.

FINANCIAL RATIOS  of  JetBlue Airways (JBLU)

Valuation Ratios
P/E Ratio 8.1
Price to Sales 0.9
Price to Book 1.5
Price to Tangible Book
Price to Cash Flow 3.8
Price to Free Cash Flow 9.9
Growth Rates
Sales Growth Rate 3.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 7.4%
Cap. Spend. - 3 Yr. Gr. Rate 9.7%
Financial Strength
Quick Ratio 5
Current Ratio 0
LT Debt to Equity 29.8%
Total Debt to Equity 34.5%
Interest Coverage 0
Management Effectiveness
Return On Assets 8.4%
Ret/ On Assets - 3 Yr. Avg. 7.3%
Return On Total Capital 14.5%
Ret/ On T. Cap. - 3 Yr. Avg. 12.3%
Return On Equity 21%
Return On Equity - 3 Yr. Avg. 20.6%
Asset Turnover 0.7
Profitability Ratios
Gross Margin 70.7%
Gross Margin - 3 Yr. Avg. 63.2%
EBITDA Margin 24.3%
EBITDA Margin - 3 Yr. Avg. 21%
Operating Margin 19.8%
Oper. Margin - 3 Yr. Avg. 17.2%
Pre-Tax Margin 18.3%
Pre-Tax Margin - 3 Yr. Avg. 15.4%
Net Profit Margin 11.4%
Net Profit Margin - 3 Yr. Avg. 9.6%
Effective Tax Rate 37.6%
Eff/ Tax Rate - 3 Yr. Avg. 37.2%
Payout Ratio 0%

JBLU stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the JBLU stock intrinsic value calculation we used $7015 million for the last fiscal year's total revenue generated by JetBlue Airways. The default revenue input number comes from 0001 income statement of JetBlue Airways. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our JBLU stock valuation model: a) initial revenue growth rate of 5% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for JBLU is calculated based on our internal credit rating of JetBlue Airways, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of JetBlue Airways.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of JBLU stock the variable cost ratio is equal to 80.2%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for JBLU stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 7.4% for JetBlue Airways.

Corporate tax rate of 27% is the nominal tax rate for JetBlue Airways. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the JBLU stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for JBLU are equal to 109.2%.

Life of production assets of 17.2 years is the average useful life of capital assets used in JetBlue Airways operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for JBLU is equal to -21.3%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $4732 million for JetBlue Airways - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 316.497 million for JetBlue Airways is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of JetBlue Airways at the current share price and the inputted number of shares is $5.8 billion.

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COMPANY NEWS

▶ Report: Here are the U.S. airlines most often guilty of mishandling baggage   [Nov-14-18 04:05PM  American City Business Journals]
▶ JetBlue Airways Reports October Traffic   [07:00AM  Business Wire]
▶ Government sides with Southwest, rejects American's Cuba idea   [Nov-09-18 03:55PM  American City Business Journals]
▶ Report: Here are the U.S. airlines with the most customer complaints   [11:06AM  American City Business Journals]
▶ Why Airline Stocks Could Take Off   [Oct-31-18 06:33AM  Investopedia]
▶ JetBlue upgraded to overweight at JPMorgan   [Oct-30-18 06:38PM  Yahoo Finance Video]
▶ Transportation stocks in correction territory   [Oct-29-18 01:58PM  CNBC Videos]
▶ JetBlue confirms Ecuador expansion   [Oct-25-18 11:05AM  American City Business Journals]
▶ TravelPirates: A destination for vacation deals   [02:05PM  Yahoo Finance Video]
▶ Jetblue raising ticket fare   [03:05PM  Yahoo Finance Video]
▶ JetBlue earnings beat expectations   [02:04PM  CNBC Videos]
▶ JetBlue: 3Q Earnings Snapshot   [09:38AM  Associated Press]
▶ JetBlue Announces Third Quarter 2018 Results   [07:00AM  Business Wire]
▶ JetBlue Q3 Earnings Outlook   [Oct-22-18 02:51PM  Benzinga]
▶ OIA's top air carrier ranks high on U.S. airlines list   [10:26AM  American City Business Journals]
▶ JetBlues Newest Destination is... Good!   [10:03AM  Business Wire]
▶ Booking winter travel? Better act now   [Oct-15-18 07:10AM  Yahoo Finance]
▶ JetBlue's Route Reshuffle Begins in Earnest   [Oct-10-18 09:06PM  Motley Fool]
▶ How to get the best winter travel deals   [12:53PM  Yahoo Finance Video]
▶ Yahoo Finance Live: Midday Movers - Oct 10th, 2018   [09:25AM  Yahoo Finance Video]
▶ JetBlue Airways Reports September Traffic   [07:00AM  Business Wire]
▶ No one hurt after JetBlue engine fire aborts Vegas takeoff   [Oct-08-18 01:35PM  Associated Press]
▶ [$$] JetBlue Joins Airlines Selling Basic Economy Tickets   [Sep-28-18 05:36PM  The Wall Street Journal]

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