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JetBlue creditors working with restructuring adviser PJT Partners, WSJ reports

By Reuters News

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.

Here are some more details:

  • 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

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