JetBlue to raise over $3 bln through debt offerings, shares fall
Aug 12 (Reuters) -JetBlue Airways JBLU.O said on Monday it plans to raise about $3.15 billion in capital through separate debt offerings, the majority backed by its loyalty program, TrueBlue,as it tries to improve its liquidity.
Shares of the company were down 8% in premarket trading.
The New York-based airline intends to raise $1.5 billion through a private offering of senior secured notes and an additional $1.25 billion via a term loan, secured by TrueBlue.
Leveraging loyalty programs as collateral has become a popular strategy for airlines to boost liquidity, a practice that gained traction during the COVID-19 pandemic.
Major carriers like Delta Air DAL.N and United Airlines UAL.O previously leveraged their loyalty programs to enhance cash reserves during challenging times.
JetBlue has been trying to control costs, including deferring deliveries of 44 new jets from Airbus AIR.PA, reducing its planned capital expenditure by about $3 billion between 2025 and 2029.
The airline's operations have also been impacted by a powder metal issue with Pratt & Whitney's Geared Turbofan (GTF) engines, forcing JetBlue to ground several aircraft.
In a separate statement, the New York-based carrier also said it wouldraise $400 million through a convertible notes offering, most of which would be used to refinance the carrier's existing debt.
Reporting by Shivansh Tiwary in Bengaluru; Editing by Tasim Zahid
免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。
所有缐上交易平台所發佈的資料,僅適用於教育/資訊類用途,不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議,或是交易價格紀錄,或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。
本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。