JetBlue creditors are working with restructuring adviser PJT Partners, WSJ reports

A senior group of JetBlue Airways creditors is working with restructuring adviser PJT Partners, the Wall Street Journal reported Friday, citing people familiar with the matter. The update comes as higher jet-fuel costs tied to the Iran war have squeezed margins for U.S. airlines, even as airfares remain elevated and travel demand holds steady. JetBlue shares were down 42% year-to-date, closing 0.94% lower at $2.62. The carrier is pursuing a financial and operational overhaul to cut costs and expand premium offerings. As of June 30, it had $1.66 billion in cash and $8.5 billion in debt and finance lease obligations, according to filings.