0859 ET - JetBlue appears to be at low risk of bankruptcy and an attractive merger target amid a challenging landscape for airlines, Raymond James says, upgrading shares to outperform from market perform. The budget airline ended 2024 with about $4.2 billion in liquidity and $5 billion in unencumbered assets, giving it a strong position against bankruptcy, the analysts say. It could also be attractive to American or United because it would bolster a network in the Northeast for American, or in Florida for United. JetBlue also has overlap with Spirit, but is in a less precarious financial position, so it would benefit if Spirit enter Chapter 7 bankruptcy, the analysts say. (katherine.hamilton@wsj.com)
(END) Dow Jones Newswires
April 07, 2025 08:59 ET (12:59 GMT)
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