JetBlue creditors are hiring restructuring advisers as bonds crash to 42 cents |
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JetBlue creditors are hiring restructuring advisers as bonds crash to 42 cents
JetBlue's $2 billion of notes due 2031 traded near 80 cents on the dollar this month; its stock has fallen more than half since August
Kevin Carter / Getty Images
JetBlue Airways has a group of senior creditors engaged with PJT Partners, a restructuring adviser, and the law firm Akin, as the airline deals with heavy cash outflows and high oil prices, according to The Wall Street Journal.
The airline's $2 billion of notes due 2031 sank to 42 cents on the dollar on Thursday and traded in the mid-40s on Friday, according to The Wall Street Journal, which cited market participants and Finra data. The decline followed a recent bondholder call. Finra data shows the notes changed hands at roughly 80 cents per dollar of face value........