S&P Downgrades JetBlue to CCC+ on Rising Fuel Costs
S&P Global Ratings lowered JetBlue Airways deeper into junk territory as high fuel prices linked to Middle East conflict hamper the carrier's turnaround. The agency expects significant pressure on operating performance over the next year and does not anticipate positive free cash flow until 2028.
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JETBLUE AIRWAYS CORP was downgraded to CCC+ from B- by S&P Global Ratings on Monday evening. The move follows a similar cut by Fitch in April as high fuel costs delay the carrier's return to profitability. Investors face higher borrowing costs and a delayed timeline for positive free cash flow, now pushed to 2028.
