Jetblue Awys Corp - JBLU STOCK NEWS

JetBlue (NASDAQ: JBLU) has appointed Steve Olson as its new vice president of system operations, effective immediately. Olson, with nearly 20 years at American Airlines, will report to President and COO Joanna Geraghty. His extensive experience includes overseeing daily operations for thousands of flights globally. Olson, a graduate of Embry-Riddle Aeronautical University, expressed enthusiasm for joining JetBlue, aiming to support its expansion. He succeeds Alex Battaglia, who retires after 15 years with JetBlue.

JetBlue (NASDAQ: JBLU) has appointed Nik Mittal to its board of directors, effective immediately, following unanimous approval. Mittal is the president of Molecule Ventures LLC, focusing on carbon markets. He has extensive experience in capital markets and ESG, enhancing JetBlue's sustainability efforts. Peter Boneparth, the board chairman, highlights Mittal's valuable investor perspective as JetBlue aims for sustained profitability post-pandemic. Mittal’s appointment expands the board to 11 members, with 10 being independent.

JetBlue (NASDAQ: JBLU) has announced the promotion of Renée Anckner to vice president and associate general counsel. In her new role, she will be the principal compliance and privacy officer while continuing to support the commercial and infrastructure departments. Renée has been with JetBlue since 2017, overseeing major infrastructure projects and managing the company's privacy program and ethics team. She expressed excitement about entering a new chapter of growth for JetBlue, aiming to become the fifth largest carrier in the U.S.

JetBlue has launched its first-ever nonstop service from Boston Logan International Airport (BOS) to London Gatwick Airport (LGW), becoming the only U.S. carrier on this route. This service is part of JetBlue's long-term transatlantic growth strategy. To celebrate the launch, special roundtrip fares are available, starting at $539 in core class and $2,199 for the premium Mint experience. Daily flights aim to connect Boston's significant customer base to a previously underserved market, enhancing JetBlue's relevance in New England.

JetBlue Airways Corporation (NASDAQ: JBLU) reported a GAAP loss per share of ($0.58) for Q2 2022, compared to earnings of $0.59 in Q2 2019. Revenue rose 16.1% year-over-year, driven by strong demand. Operating expenses increased 34.7%, impacting margins. JetBlue announced plans to acquire Spirit Airlines for $3.8 billion, aiming to enhance market competition with greater operational efficiency. A new cost program targets $150-$200 million in savings by 2024. Despite challenges, JetBlue anticipates improved profitability in Q3.

JetBlue Airways has announced a definitive agreement to acquire Spirit Airlines for $33.50 per share in cash, totaling an equity value of approximately $3.8 billion. The deal includes a prepayment of $2.50 per share and a ticking fee of $0.10 per month. JetBlue expects to gain significant synergies, potentially $600-700 million annually post-integration, while projecting total revenues around $11.9 billion based on 2019 figures. Completion of the acquisition hinges on regulatory approvals and Spirit stockholder consent.

JetBlue has appointed Jason Lenhart as its new vice president of technology. Lenhart will be responsible for developing the airline's technical strategy, focusing on engineering, QA, cloud, and infrastructure, and will report to Carol Clements, the chief digital and technology officer. He previously served at Warner Bros. Discovery and held senior roles at Barclays and Comcast. The addition of Lenhart is expected to enhance JetBlue's IT infrastructure and support its product roadmap, emphasizing technology that connects with people through travel.

JetBlue Airways (NASDAQ: JBLU) will hold its quarterly conference call on August 2, 2022, at 10:00 a.m. ET to discuss its second quarter 2022 financial results. Investors can listen to the live webcast on JetBlue's investor relations website at http://investor.jetblue.com. An archived version will also be available following the call. JetBlue serves over 100 cities across the U.S., Latin America, the Caribbean, Canada, and the U.K., positioning itself as a significant player in the airline industry.

JetBlue (NASDAQ: JBLU) has appointed Melinda Maher as Vice President of Financial Planning & Analysis and Structural Cost. Reporting to CFO Ursula Hurley, Maher will leverage her extensive finance background from Amazon and Alaska Airlines to enhance JetBlue's financial strategy and cost structure. Her role focuses on long-range planning, budgeting, and driving margin expansion, with an emphasis on efficiency and effectiveness. Maher's experience includes equity research on Wall Street, and she holds degrees from Embry-Riddle and Babson University.