JetBlue dips after Monday's pullback

Trueblue

13/08/2024 11:25

** JetBlue's  JBLU.O  shares down 2.1% at $4.70 premarket
    ** Ratings agencies S&P and Moody's downgraded JBLU, sending
stock tumbling 20.7% on Monday, after the carrier unveiled plans
to raise more than $3 bln in debt, majority backed by its
loyalty program, TrueBlue
    ** The airline announced on Monday $400 million convertible
notes offering due in 2029 with coupon of 2.50%, which it
intends to use to repurchase its existing 2026 convertible notes
    ** JBLU's notes due 2026 were trading at 89 cents on the
dollar, down from 93 cents two weeks ago
    ** Stock down 13.5% YTD, compared with 20.9% fall in S&P
1500 passenger airlines index  .SPCOMAIR 

 (Reporting by Medha Singh)
 ((medha.singh@thomsonreuters.com))