JetBlue Creditors Call In Restructuring Experts As Shares Plummet To All-Time Low

A major group of JetBlue creditors has hired restructuring advisers after the airline’s shares sank to an all-time low, underscoring concerns about how the carrier will manage its debt while trying to return to sustained profitability. The Wall Street Journal reports the creditors brought in PJT Partners and the law firm Akin Gump Strauss Hauer & Feld, citing people familiar with the matter. The move follows a difficult period that included exploration of a potential sale to rivals such as United Airlines. Creditors include holders of $2 billion of bonds due in 2031 and a $742 million first-lien loan. JetBlue’s stock fell nearly 10% Thursday to close at $2.65.