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JetBlue's senior creditors are working with a restructuring adviser, the WSJ reports

The Wall Street Journal and Bloomberg say lenders have lined up advisers ahead of JetBlue's third-quarter results. JetBlue says it remains confident in its JetForward plan.

By Marcus Rodriguez · Oct 24, 2026, 6:35 AM EDT

Why it matters: Lenders are getting organized while JetBlue's fuel costs run high and its shares and debt hit record lows this week, per Bloomberg.

For information only, not investment advice. Prices delayed.

Tickers: JBLU

A group of JetBlue ($JBLU) senior creditors is working with restructuring adviser PJT Partners, the Wall Street Journal reported Friday, citing people familiar with the matter, according to Reuters. JetBlue's statement to Reuters didn't address the report.

Bloomberg reported a similar account, also citing people familiar with the matter: JetBlue's creditors are organizing with advisers as the airline comes under more pressure ahead of its third-quarter earnings report. Bloomberg said JetBlue's debt and shares hit record lows this week.

JetBlue shares were down 0.94% at $2.62 as of Oct 23, 4:00 PM ET.

Creditors hiring advisers isn't a default or a bankruptcy filing. None of the reports says JetBlue has missed a payment or is planning to file. What they describe is lenders getting organized while the stock and debt slide.

Instead, the emailed statement pointed to its JetForward strategy: "JetBlue remains confident in its JetForward strategy and the progress being made toward returning to sustained profitability," the company said. PJT didn't immediately respond to Reuters.

Where the pressure is coming from

Reuters pointed to fuel. A surge in jet fuel costs tied to the Iran war has squeezed US airline margins, even with higher fares and steady demand. JetBlue said much the same in a September update to its third-quarter outlook: fuel prices have stayed above its earlier forecast, which pushes up expected fuel costs for the quarter.

The same update blamed weather and air traffic control problems, especially in the Northeast, where JetBlue's network is concentrated, for heavy disruption in July and August. JetBlue also said then that demand had stayed strong through the third quarter, with healthy bookings into September.

Meanwhile, JetBlue is in the middle of a financial and operational overhaul meant to cut costs, and it plans to add more premium offerings, Reuters said.

The balance sheet

In its latest quarterly filing, JetBlue said it had $2.2 billion in liquidity at June 30, including cash, cash equivalents and investment securities, plus an undrawn $600 million credit line from Citibank. The company said then that this would be enough to cover its liquidity needs for at least the next 12 months.

Against that, JetBlue had $8.5 billion of debt and finance lease obligations as of June 30, according to Reuters, citing the company's filings. Its cash and cash equivalents alone came to $1.66 billion, Reuters said.

The next look at those numbers comes with JetBlue's third-quarter report, which Bloomberg said is coming up but which none of the sources dated.

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