JetBlue Shares Up On Hopes Will Benefit From Spirit Air Strike |
| Wall Street Journal - Jun 14, 2010 |
Shares of JetBlue Airways Corp. (JBLU) climbed Monday on hopes the airline could benefit from a pilot strike at fellow discount carrier Spirit Airlines Inc.
The 450 pilots employed by Spirit legally walked off the job early Saturday morning amid a dispute over pay and benefits, the first strike at a U.S. passenger airline in nearly five years. The strike has hampered the travel plans of many of Spirit's roughly 16,000 passengers a day and forced some to buy pricey, last-minute tickets on other airlines.
Analysts said JetBlue and AMR Corp. (AMR), parent of American Airlines, are the two carriers most likely to benefit from Spirit's woes as they have flights that overlap with Spirit's service areas.
Hudson Securities analyst Daniel McKenzie, who boosted his rating on JetBlue to neutral from sell, said Spirit flies to 37 destinations, of which AMR serves 32 and JetBlue serves eight.
Read Full Article from Wall Street Journal
- Posted: 2010-06-14 10:41:17
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