JetBlue creditors working with restructuring adviser PJT Partners, WSJ reports
JetBlue creditors working with restructuring adviser PJT Partners, WSJ reports Oct 23 (Reuters) - A senior creditors group to JetBlue Airways JBLU.O is working with restructuring adviser PJT Partners PJT.N, the Wall Street Journal reported on Friday, citing people familiar with the matter.
A surge in jet fuel expenses due to the Iran war has pressured margins for US airlines despite higher airfares and steady demand for air travel.
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Shares of the carrier, which have fallen 42% this year, remained volatile in extended trading
JetBlue is also in the midst of a financial and operational overhaul to reduce costs, and plans to boost its premium offerings
As of June 30, JetBlue had $1.66 billion in cash and cash equivalents along with $8.5 billion of debt and finance lease obligations, according to its filings
JetBlue and PJT did not immediately respond to Reuters requests for comment
(Reporting by Anshuman Tripathy in Bengaluru; Editing by Sahal Muhammed)
((Anshuman.Tripathy@thomsonreuters.com;))
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JetBlue creditors working with restructuring adviser PJT Partners, WSJ reports (updated)
JetBlue creditors working with restructuring adviser PJT Partners, WSJ reports