JetBlue founder David Neeleman has made striking remarks regarding the airline’s financial situation.
Neeleman stated that the airline could enter Chapter 11 bankruptcy protection this year, emphasizing that its current financial structure has become unsustainable. In his comments, he said, “If fuel prices remain at $4.50 per gallon, JetBlue would lose $1.3 billion this year and its debt would rise to $9 billion.”
Highlighting the growing debt burden, Neeleman noted that annual interest payments could reach $800 million.
He also commented on a potential sale of the company, saying, “Do you think a giant like United would take on this debt? No one would buy this company in its current state,” suggesting that finding a buyer for JetBlue would be difficult.
