JetBlue: Great(ish) Airline, Bad Business Model
This week JetBlue reported its second quarter 2023 financial results. While JetBlue posted record revenue for last quarter, the airline updated its guidance to reflect that it anticipates breaking even or losing money in the third quarter. Yes, that’s despite the fact that the third quarter still largely includes the peak summer travel period.
Continue reading: JetBlue: Great(ish) Airline, Bad Business Model
Share your questions, experiences, and thoughts below.
I'd say missed the biggest one of all (that the Spirit merger won't be guaranteed to address)... and that's the gaps in (1) service and (2) connections between medium, and even major cities, in its domestic network.
Try getting from SoCal to the non-Florida Southeast, or Texas to the Midwest, on B6-- good luck.
Really wish they could shake the boutique airline label, but if you’re not on the coast, it’s just not an attractive option to rely on.
Since we are playing armchair CEO, I would’ve gone hell or high water to merge with Virgin America. That imo was their shot to take the next step into the legacy carrier tier, instead, Alaska is now that carrier.
Finally: They should’ve opened a mid-continent hub along the way. Austin or Nashville are the longer shot ideas but probably the only way it would’ve worked. They don’t have the frequency or operation to compete at the legacy hubs.
To me, Jetblue's most glaring weakness is the lack of a midwest hub.
They've been in my city for nearly 20 years, but I still can't go anywhere except to the northeast!
While I agree with many points here, I don't think we as couch CEOs are in position to blatantly criticize the business model - it worked ok previously, and as much as we like to think people at the helm are idiots making obvious mistakes - they aren't.
However, as a counterpoint that people in charge aren't dumb - operational issues surely seem to play a major role in JBLU's misfortunes, and I'm always dumbfounded they haven't been properly addressed yet. If anything, this fact alone sure signals bigger issues with the company's leadership skill and their sense of direction/purpose.
Agreed. Though it wasn't strong enough to keep DL in the face of the NW merger, I think Cincinnati would've been a great city for a lower cost (at least back then) airline like JetBlue to make a go at.
It's got a large corporate base (half-dozen Fortune500s and plenty more smaller HQs there), plenty of terminal space available, and pretty centrally located.
It's nowhere that the leisure crowd would want to go, but like you said, I'm sure they'd love to have a way to get to places without having to backtrack eastward at all times.
"it worked ok previously"
But ya see, that's never enough, in the airline biz; even "couch CEOs" can tell you that.
PanAm's model "worked ok" for decades... until it didn't.
If an airline doesn't evolve with changing market landscapes, changing regulation, and changing competition-- then "working okay back then" means absolutely nothing.
My issue with JetBlue is that many of their interiors are incredibly old. They used to be priced much cheaper than the big airlines, but that hasn't been true for a while now. Given the choice to fly DL or B6, I'll pick DL almost every time because I know that I'll have a newer seat and solid IFE. I only choose the latter if the timing is much more convenient.
A lot of people are pointing to various holes in JetBlue's network. Well carriers like Southwest and Alaska also have huge holes in their networks, but are apparently doing better.
Also, Lucky seems to think first class and a profit center loyalty program are the way to go - again, Southwest has neither and does very well. Hell, Southwest doesn't even have low fares and it still makes money.
I don't know if either of those is a great counterexample though.
There's no significant city in the lower 48 that Southwest doesn't fly to, and most domestic travelers having the option of driving to the nearest large market if they truly desire to fly Southwest. Alaska also has very few major cities that they don't fly to at all, and while they're also quite lacking in the regionals, they make up for it by being able to offer their major US city customers, partnership service to just about any major international city worldwide.
Jetblue is as usual, somewhere in the middle and really accomplishing neither. There's major gaps in their domestic coverage, they don't have partnerships worth a damn, and I'm betting that token flights to London and Paris don't really make up for that to most people.
I agree with much of what Lucky says here. Most of JetBlue's competitors make money primarily through their loyalty programs, and aren't super profitable just from flying planes. Is the gap in financial performance primarily because JetBlue's loyalty program is less profitable, or is JetBlue also much less profitable than its competitors when it comes to flying planes?
Their brand recognition is also too heavily dependent on where in the country you live.
I haven't flown Jetblue in many years because they don't have a first class product
They need another hub besides Boston, and JFK , preferably a hub with better weather than the Northeast, and less congestion.
Their route network is pathetic if you don't live near New York or Boston
Also, they need wide bodies to Europe. Nobody wants to fly a single aisle plane.
JetBlue’s lack of reliability and on time percentage is my biggest issue with them. And it’s not just talking about 2 hour delays, we’re talking about massive 10+ hour delays and leaving passengers stranded.
The other issue is that JetBlue hasn’t found a way to grow out of the NE to Florida niche. And I’m very hesitant to book on JetBlue when they offer 1 flight daily to a destination given their reliability issues.
I agree with these points generally, especially the one about being stuck in the middle anymore. I think people (general traveling public) knew Jet Blue as being this different type of airline and I'm not sure they even really push that anymore. Wasn't their original motto something like, "bringing humanity back to air travel"?
I really wish they had merged with Virgin America back in the day. Alaska probably snatched them up to keep them out of Jet Blue's hands, but that would have been a great combo and made sense on so many levels (in my mind, anyway). Is there any chance they could partner with Alaska? Maybe Alasks has no need, but again, they seem complementary.
The Spirit merger is exactly the opposite - they're just buying them to get planes, pilots, and employees. I do hope they use that to diversify their network and maybe have other hubs.
Apparently JetBlue management thinks doing mergers will be the answer. I tend to doubt, particularly trying to merge with Spirit. I tend to agree that a reasonably priced domestic first class is a winner. Coach (and coach passengers) has become such a hell people with a little means (like me) are more than happy to shell out a few more hundred dollars per flight. When it's competitively priced or there's a decent upgrade offer I just buy it outright rather than hoping my upgrade (as an AA EXP) will come through. And I get free MCE and a free drink(s).
"...I think JetBlue should introduce first class throughout its fleet."
100% agree. I've never flown JetBlue in my life, mostly because I'm in DC and JetBlue doesn't have the presence at either DCA or IAD that the three legacy carriers have. But even with that said, I'll only fly first in first, so if B6 had a better presence in the DC area, they still wouldn't be a competitive for first class customers.
"Nobody wants to fly a single aisle plane."
Based on what, all the people that do it any given day?
If Jetblue successfully acquires Spirit, it isn't even clear what that will do for them. Sure, it will grow its fleet and revenue but Spirit is effectively only big in a few cities, Fort Lauderdale, Orlando and Las Vegas. These are all leisure destinations with tons of competition. How is this going to be accretive to Jetblue?
Very concerning if I were a shareholder is that every month, Jetblue as part of their acquisition to Spirit is maying a ticking fee to shareholders, weakening Jetblue's balance sheet.
Jetblue can't even get their own operation right on their own. How can they grow with scale.
It's pretty much Allegany/USAir all over again. Someday soon. . .part of the "new" American
A discussion of their “business model” without any financials / numbers.
I do not think those words mean what you think they mean.
@ Never In Doubt -- As I said in the post, I was taking a big picture look at the airline, rather than just rehashing the numbers. But the numbers are there in the Q2 2023 financial results.
Do you want to argue that JetBlue isn't really struggling with finding its place in the market across a variety of factors, including revenue per seat mile vs. cost per seat mile?
If I ignored personal desires, I would honestly recommend JetBlue lean into the low cost segment - especially if it can pull off the spirit acquisition. Many people associate JetBlue with the NE but it has a massive presence as FLL, where it competes well against Spirit and undercuts AA in the Latin America/Caribbean market. JetBlue would only have to be one step better in that segment (say offering it’s massive network of direct coast to coast flights).
Even if JetBlue did the massive update of converting all of its current fleet AND spirit fleet to include first class, it would still lack the lounges and international partners to compete for corporate contracts. Alaska was mentioned for its large international network and even that wasn’t enough to keep their Microsoft contract in Seattle without the AA partnership. Such a partnership network would take years and may require joining one of the major alliances - which the current administration probably would sue to stop.
I have to say I am personally offended by the suggestion that JetBlue is a great airline. I think you probably just have not flown them recently but their track record this summer has been truly abysmal. Flight delays are horrendous. Yes some is weather, but Jetblue is truly melting down in a much much worse way than other airlines. I personally had 8 RT tickets booked on B6 (as its the only airline with lie-flat JFK-SEA) that I recently cancelled and rebooked on other carriers due to very bad operational reliability problems. I cannot imagine deciding to fly B6 right now if you care about getting to your destination on time.
I just flew TAP Portugal on a narrow body plane with lie flat seats and it was glorious. Boarding was quick, the and the business cabin instead of having 50 others with you. Narrow is a great way to cross the Atlantic.
I think you're almost 100% right here. Operations are absolute trash. I book away from them for that reason. I agree first class fleet-wide is a must. TrueBlue is useless even after the "updates" and their lack of partner redemptions is pitiful (guessing that's an IT issue). I flew them as part of the NEA but never will anymore.
The only disagreement is more context for acquiring Spirit. It's not about the value of spirit. It's that if they merge with Frontier, jetBlue would be done. The couldn't compete. It also gets them aircraft which are very hard to come by and gates / slots etc that they need to scale up.
But yeah basically spot on here. Being "in the middle" is a tough place to be these days. They should clearly instead merge with Alaska which would create a reasonably sized competitor
Put me down in the pro-narrowbody category as well. Quick on, quick off.
Also, contrary to the common refrain: A321 with Airbus's current interior actually has among the MOST headroom of TATL aircraft out there. Higher than what's offered in the window seat + overhead of any A380, A330, and (gasp) previous 747 out there.
So unless one is sitting in a widebody premium class with no overheads in the center, then the whole "I feel so claustrophobic" thing, is simply in one's head.
As a CLT based flyer that was based at DEN for a decade before, it's always amazed me that B6 can't even connect more major cities to more of it's hubs. They only fly to BOS from CLT and they only fly to BOS and JFK from DEN. Why there's no service from CLT to FLL or from DEN to SoCal is beyond me.
I also really hope that if they do acquire Spirit that they keep NK's profitable routes. For example, NK has 9 routes from CLT and 4 from DEN. The last thing I want to see is B6 just shore up it's main focus cities more and pull existing NK service from cities like CLT. Similar situations exist at places like ORD currently.
B6 needs to figure out who their customer is first, i.e. who they want to target. They need to be competitive in either business/premium or leisure, and they are not currently competitive in neither. They've also stopped innovating. Maybe they should introduce a Eurobiz? Focus on one nice thing for coach instead of free everything?
And yeah, absolutely need to get their operations together. Without that, they will never be a top choice. Here in Boston, I always look at Delta first, and then B6 as the backup plan.
Living in Boston, JetBlue is always on my list when looking for flights. I completely agree that their scheduled arrival time is strictly a best guess, although they do typically get you there eventually. Unfortunately, if you are flying one of their standard A320's, the likelihood of having a working TV is slim - as I had none the last 7 times - and their FlyFi is quite poor when an entire aircraft is trying to stream as a result. Their large variety of snacks have dropped to 4 or 5 options that have diminished in size. it could easily be one of the better airlines in the US as the vast majority of their employees are excellent - if they could get the hard product to be consistent being delayed 5 or 6 hours would be less painful.
This post feels 10 years late.
They lost the premium shine when they slashed legroom and started charging for bags. Now they're just a legacy with worse ops
Let’s chalk it up to how I’d define “business model”, which is apparently much more quantitative than you would.
I tried this airline a few months ago. Two segments , one transcontinental.
Watched a flight attendant being abusive to another passenger, saw and smelled filthy neglected toilets, and revelled in uncomfortable torn and worn seats.
These are basics, and lead to speculations about other aspects of the operation.
Never again.
@Never In Doubt, perhaps you could enlighten us, then? I am genuinely curious as to where you're coming from.
A business model describes the manner in which a business takes its product to market to create, deliver, and capture value. This is exactly what was being discussed in Ben's article, predicated by the fact that B6 has lowered its Q3 forecast.
I believe you are conflating "business model" with "business fundamentals."
I fear that dissolution of the NEA is the beginning of the end for B6. Without the connectivity offered through AA, their business model (especially WRT transatlantic routes and premium demand) is flawed.
Although I'm a fan of the current administration, this was a huge miss for Pete and the DOJ. In an effort to appear as the savior for the traveling public and create the optics of being pro-competition, they've all but ensured (in my own opinion) a formal merger or acquisition in the next few years, which will of course create less choice and less competition.
I'd have to consider AA the frontrunner in this future sweepstakes, given their need to solidify their position in the Northeast and defend their share of premium transcontinental traffic. The B6 fleet and network would integrate quite nicely into the AA organization.
Ditch the spirit purchase, merge with Alaska.
That would give them a much better west coast network, and alaska a better east coast network. Alaska is part of one-world which would help with international connections on both coasts.
JetBlue's Mint seat, service, and passenger experience from the east coast to LAX was far superior to the Delta One experience from Atlanta to Madrid. Just IMHO.
Their Mint seats, especially if you snag one of the ones that have no one next to you, is a far better seat than first class on Alaska, United, or Delta from (e.g. Costa Rica to Houston, LAX, or Atlanta).
Torn and worn seats? Not at Jetblue. What airline were you on? Doesn't sound like them at all. Their planes are new and the flight attendants are the friendliest of any airline.
Long lines for service. Delays. 40 minutes to get bags. Crappy terminals with insufficient seating. Hassles with carry-ons.
Does anyone care about TVs in the seats? If there is more legroom, it's not enough for me to notice.
I only fly them if there's no other option.
Traveled annually nonstop between NY and Antigua. All of a sudden ... No flights. No sched for September - December. No explanation! Zip. Nada. Nothing. I'm left with overpriced, over- long flights with AA and United!! SOS, JetBlue. Come back!!!?
That’s the point of Spirit….double in size overnight, gain 6 more bases and own terminal 5 in LAX
JetBlue has survived more outside input than this and has thrived. JetBlue senior leadership are not devoid of outside thought or opinion. The airline has succeeded beyond all doubt inside thought or outside opinion and will do so after the Spirit merger is bought off by congress and approved. In a few years there will be analysts scratching their heads about how JetBlue got ahead.
As jetblue flyer I have good barometer as to issues with jetblue, since jetblue dominates some carribean markets they need to improve the service and reliability , they cannot leave passengers in limbo guessing when or if there flight will depart ? Too many times there flights are so late or just cancelled claiming its weather related when other carrier flying same route have no problem with weather issues, they must.improve on time departure / arrival record !!! It's there biggest issue!!! And there strategy is offer lowest fare possible called basic blue however then they nickel and dime the passengers with so many fees that makes it unbearable for a jetblue passenger to be TRUEBLUE "
I'm curious what you folks think about the original proposal from frontier to buy spirit. That to be made sense: ultra low fare western airline buys ultra low fare Eastern airline. I think that would be a much more formidable challenge long term to the likes of Southwest et. al.
All of my flight is with jetblue, but coming back to NY from Barbados many of stuff was stolen from 1 of my bags including jewelry I reported it fill out the paper work and still waiting to get reimbursed, since jetblue is 1 of the fastest flight home, this experience leaves me not please and wishing for more airlines direct to the island, jetblue needs composition from other airlines to bring back the true jetblue like it use to be
Maybe JetBlue is buying Spirit so it can find an excuse to borrow the latter's "Big Front Seat". That would satisfy your desire to add "fist class" to JetBlue's offering.
Spot on!! This would be a great way for AS to open up the Caribbean market with some code shares and add some easy East coast to Florida connections that AS doesn't have a lot of lift to.
Back in the day JetBlue was thought of as a low cost carrier, but the truth is it was not that low cost. Then, they started to introduce their business class. The same is true for the ultra low cost carriers. By the time you are done with the extra fees, then you are at about the same price as a legacy carrier. JetBlue was good for me when it offered a convenient route non-stop, but otherwise not. Some of your suggestions for the business model they could still take advantage of. For example, having more revenue opportunities or making more out of their loyalty program.
JetBlue has the worst flight attendants that I have ever experienced. They don't make eye contact, so when they serve drinks, you don't know if they saw that you were alive. Then they get snippy for no apparent reason.
I would not fly them unless I missed a flight and needed to book a last minute ticket. Even then, I just hope that the flight is not delayed.
Very interesting article!
I mostly agree with your points. As my alias hints at, JetBlue is my favorite US airline, and they offer a superior Economy experience. I have yet to fly them in Mint, but based on what I've seen, it looks amazing. B6's only notable detractor is their lack of punctuality, which admittedly is an important issue, and one that could have many thinking twice before flying on this otherwise great carrier.
Oh, and speaking of areas for improvement, not only does B6 lack a domestic First Class product (honestly not a deal breaker for me, but I get why it might be to others), they also don't have any lounges for Mint passengers. Again, not a deal breaker, but I think these are 2 ways in which they could easily improve.
Regarding their business model, I think JetBlue is in a weird place. They're a "boutique" airline that isn't quite as big as the Big 3 yet isn't as cheap/streamlined as the LCC's. It competes with the other airlines on both quality AND price. In addition to that, their limited route network is a big competitive disadvantage. Reliability aside, JetBlue is great, but they're useless outside of the Northeast/FLL.
If JetBlue is spending $3.8 billion for access to the novel concept of putting bigger seats in the front of the plane, they've got much bigger problems...
I think fixing operational reliability is step one, getting into a major alliance is step 2 (Oneworld?) and a first or Business class cabin is step 3. I also think a Midwest hub (St. Louis?) would help as would more A220’s. And 787-8’s would be great for their International ambitions as it would provide a widebody experience and increased range to reach places like Rome, Milan, Athens, etc.
Instead of buying Spirit I would invest from within.
Yes, they're a better match for each other. But either way, I think a merger is anti-competitive. The US needs more airlines, not less.
JetBlue should have merged with Virgin America. After losing out on that, merging with Alaska makes the most sense. Let Spirit go.
An Alaska merger would make more sense as their models have more in common. Alaska's also been much more consistently successful with theirs.
Main reason they won't do it, I suspect, is Alaska would want to be in the pilot's seat. Wagering if they get their way with Spirit, it'll ultimately fail and only drive down their final sale price to Alaska.
I think Jetblue has an identity crisis. They want to be low-cost, yet want to compete with the full services carriers. They just need to make up their mind. What is going to happen if the Spirit merger is denied? They already lost the NE alliance and potential new customers/routes from AA. I really enjoyed flying them (AA flyer here), but now I have to stick to AA again. They need to decide on the domestic first class product and potentially join an alliance. Not sure if the DOJ will have something against this one too – especially if they would go with Oneworld. Flying to Europe with them only makes sense, if London, Paris or Amsterdam is your final/only destination.
To understand JetBlue's problems today you have to go back to the beginning. It's founder, David Neeleman, was actually fired from Southwest. He took the Southwest model and made improvements on it (and was very vocal about it). So there was assigned seating. There was in seat entertainment. There was a better/bigger selection of snacks. Awhile when the legacies were slashing inflight coach amenities JetBlue looked better and better to the leisure traveler.
Virgin tried to copy the model and it didn't work. But by the the niche went away when ULCCs entered the market not to mention as JetBlue grew so did it's operational issues. So today it's not an ULCC and it doesn't have the route capacity of a legacy. It's "competitive advantage" such as it is doesn't translate into higher fares. Apparently growing through acquisition seems to be the answer and time will tell if that pans out.
You obviously haven't flown AA.
It's a rare occasion when I actually get a service-oriented FA on an AA flight - even in First. The last flight I was on (in First), the FA did the bare minimum and then retreated to the galley to stare at his phone for the rest of the flight.
Agree B6's main issue is reliability. Am taking them next week (FLL-DCA) and will be nervous until I'm in my seat and we're taking off.
I live in Ft. Lauderdale, and I'd take them more, but along with the reliability issue is the fact that while FLL is a hub for them, their service to points between the coasts is usually barely there. I travel to RDU frequently, and they only have one nonstop there (leaves around 8:30p.) and one back (leaves at the ungodly time of 6a. or so). Neither of these are convenient. So, unless I want to take NK (ain't never gonna happen) or WN (I'd rather crawl there than take their metrobus with wings), I'm left with schlepping to MIA to take AA. I used to live in Columbus, and I remember when B6 came to town... They had a similar issue with a couple of poorly-timed flights to BOS, and they wondered why they didn't make it there. If they're going to serve cities between the coasts, they need to do it right, or not do it at all.
My company will not allow us to fly Jet Blue due to their poor customer service and repeted thefts of camera equipoment from checked in luggage. I am a multi million mile AA advantage program member and am very happy Jet Blue is no longer alied with American.
Accurate article. The Frontier/Spirit merger would have destroyed B6. The “JetBlue effect” only works when there aren’t ULCC to compete with. Cost conscious leisure travelers look for the cheapest tickets and B6 can’t turn a profit when it has to compete with Spirit/Frontier on price.
If the merger goes through, they may have a chance. If not, it will never be much more than what it is today. A geographically limited niche airline.
They should merge with Frontier or Alaska to build out to the west coast. Frontier would provide a good West Coast time in Denver, and eliminate a ULCC competitor. Alaska has a nice feeder network out west with good premium product and loyalty, and good Hawaii and Alaska connections.
If your stuff was getting stolen from your “checked luggage” that’s a TSA issue. I’m also excited about the AA B6 split because AA customers were terrible sad to say. It’s been a pleasure to turn those customers away when AA purposely over sales their flights.
Given that the majority of US based air travel customers fly once, maybe twice a year, I'd say Jetblue is doing exactly what it is supposed to do, fly leisure (predominantly) travelers to where they want to go in a more humane way than all of the other carriers (non first/business class of course. Yes East Coast geography is a burden for Jetblue. Yes, a New York (and beyond) Air Traffic Control shortage is terrible for a reliable, on time airline operation, yet even with the delays that stack up throughout the day, if you fly on Jetblue you will likely see smiles on the faces of those who get off the plane. How can this be? delayed and still happy? It is a testament to the comfort and inflight product that Jetblue offers that wins over those once/twice a year flyers. They don't remember the run around, they remember being comfortable and treated like a human.
Well said. I agree with most your points. I’ll also tell you this is rolling through the employee Facebook groups. Many people agree with all your points. I’ll tell you the front line takes a lot of pride in ontime and safe operations. I agree all the way on a more widespread premium product.
Agree 100%… and buying a flying turd of an airline like Spirit is is like buying water on a sinking ship…
All great suggestions. I would add that JetBlue needs to acquire spirit in order to expands it routes. Then add first class, as you suggested, create a premium economy equal to their current seats and a basic economy similar to Frontier.
I was really hoping they’d buy Virgin America and use their formula for long-haul flights with a mix of first and premium economy. Premium economy passengers had priority security on that airline, which attracted frugal business travelers and was a nice perk.
JetBlue has an opportunity to do something similar with Spirit’s Big Front Seat. Hopefully they don’t waste it.
The majority of customers hated when they ended on an American flight because the experience was not great all around, the JetBlue customer will not be upset. American stands to lose the benefits that JetBlue seemed to provide without real reciprocation in to AA Elite as well as reacommodations. I've flown both as well as many other airlines. I like to see what experience each offers. I appreciate different airlines for different reasons but there is always a sigh of relief for me when I settle in for a JetBlue flight. If JetBlue can expand it's network by acquiring Spirit and gain access to far more slots and presence along with more airplanes then it will be a game changer. Watch how they upset the entire network. Growing an airline in the current circumstances isn't easy or fast. The Spirit acquisition will position JetBlue much differently and give them a chance to expand their network overnight. I don't want to fly anyone else. I'll pay the little more for what they are. Also, all planes are all made the same, by the same companies, it's how their outfitted that changes the experience and getting your hands on planes right now can be hard. Outfitting the plane is the lesser issue.
So a good bussiness model is being a crappy bussiness does no one remember when over booking lead to fist fights and lawsuits. I think an airline trying to air travel better at a lower cost should be commended. Since when do passengers want to stuffed in like sardines. Making money isn’t anything and if history is an idicator the increased demand for first class will diminish and low cost airline will come back into the lime light. I believe that all airlines should be held to higher standards more power to you jet blue a business that doesn’t true to rape it’s customers hats off for even excepting lower fees!
I have personally been on a frontier flight to Denver where my flight schedule was changed from a direct flight to a 7h layover in Vegas. Which when flying with my 2 children was unexceptable. Wanna talk about a crappy bussiness model. I had to rebook my hotel and search for alternate travel just for them to at the last minute add another flight and change to the original flight plan. So as far as spirit or frontier an acquisition by jet blue would be a major improvement
I agree--I think Alaska would definitely be good for JetBlue (as long as the combined airline could establish a midwest hub) but agree with your point that Alaska probably doesn't really want a merger. I think Alaska seems pretty content with where they are right now.
The biggest enemy at JetBlue is its unreliable operations and management has decided to ignore it a long time ago. The Spirit acquisition is a bad idea unless JetBlue is trying to get rid of a competitor since route overlap is huge between the two. It is estimated that this acquisition will cost JetBlue $5.5 billion when all is done and the carrier is borrowing every penny of it. Alaska makes good sense since there almost no overlap creating a strong East and West last flying and adds presence in the middle of the country where JetBlue refuses to fly til present day.
