A group of senior JetBlue Airways creditors has reportedly hired financial adviser PJT Partners and law firm Akin Gump. The move indicates creditors are organizing to protect their interests as the airline faces ongoing cash burn and high fuel costs.
JetBlue shares and bonds have fallen sharply. The stock recently hit a record low, while some bonds traded at deeply distressed levels, reflecting mounting investor concern about the airline’s financial health ahead of its next earnings report.