JetBlue Rejects Debt Overhaul

It's Benzinga, bringing Wall Street to Main Street. JetBlue Airways CEO Joanna Garaghty said Tuesday that the airline is not negotiating with creditors or considering debt restructuring after a sharp sell-off in its bonds raised concerns about its finances, according to Reuters. A group of creditors reportedly hired restructuring advisors PJT Partners and Akin Gump, raising questions about JetBlue's ability to finance its turnaround without renegotiating its debt. Girardi also denied that the airline was seeking financial support from the U.S. government. The carrier reported a third-quarter net loss of $257 million compared with $143 million a year earlier, as fuel expenses surged 61%. Revenue rose more than 20% to $2.8 billion JetBlue has approximately $8.4 billion in debt and finance lease obligations. The airline reported $2.2 billion in liquidity and expects another $250 million in aircraft-backed financing in the fourth quarter. JetBlue still aims to return to operating profitability in 2027.