BRIEF-Fitch Downgrades JetBlue To 'CCC+' From 'B-'

JetBlue Airways Corporation +1.21%

JetBlue Airways Corporation

JBLU

5.00

+1.21%

April 4 (Reuters) - Fitch:

  • FITCH DOWNGRADES JETBLUE TO 'CCC+' FROM 'B-'; AFFIRMS AND DOWNGRADES CERTAIN EETC RATINGS

  • FITCH - DOWNGRADE OF JETBLUE'S IDR REFLECTS CONTINUED OPERATING LOSSES, MORE PROLONGED PATH TO MARGIN RECOVERY

  • FITCH - DOWNGRADE OF JETBLUE'S IDR REFLECTS SHARPLY HIGHER JET FUEL PRICES, AND PERSISTENTLY ELEVATED LEVERAGE

  • FITCH ON JETBLUE- EXPECTS CREDIT METRICS TO REMAIN OUTSIDE FITCH'S PRIOR DOWNGRADE SENSITIVITIES FOR AT LEAST NEXT 12 TO 18 MONTHS

  • FITCH ON JETBLUE: EXPECT NON-FUEL-UNIT COSTS TO REMAIN PRESSURED BY SLOWER CAPACITY GROWTH UNDER CURRENT ECONOMIC CONDITIONS

  • FITCH ON JETBLUE: DOWNGRADE SHOWS CONTINUED NEGATIVE FCF, WHICH CONSTRAINS JETBLUE'S FINANCIAL FLEXIBILITY DESPITE STILL-ADEQUATE LIQUIDITY POSITION

Source text: ID:nFIT3sjc50

Further company coverage: JBLU.O


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