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JetBlue-the first lease payments due soon?

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JetBlue-the first lease payments due soon?

Old 30th Dec 2002, 05:11
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Cool JetBlue-the first lease payments due soon?

Another pilot just told me that the very successful airline at JFK, JetBlue, received those brand-new 320s from Airbus for almost nothing. Maybe this is totally inaccurate.

He read or heard that in several weeks some lease payments will be due. What is the true situation there?
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Old 30th Dec 2002, 15:02
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Sorry this is not answering your question as I really have no idea.
However recently flew out of JFK on 3 occaisions with Jetblue and have to say how impressed I was with their operation.

This is a low cost airline operating a clean modern fleet of new A320's. They provide free onboard TV via satellite channels to each individual seat. They also provide free soft drinks and snacks ( crisps, cookies ,etc ). full service carriers ( whatever that means in the US these days ?) charge much more for much less.
The check-in staff were all courteous and helpful. The facilities were all good. The flights were all on time.

Very impressive ! I hope they do well, they deserve to.
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Old 1st Jan 2003, 15:03
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I think your on track. In my area, about 75 miles from JFK, in a recent conversation on a soccer field several airline pilots and local investment types were talking about payments or a balloon payment coming due soon for Jet Blue and they were avoiding the stock.

I wish the best for Dave Neelman, the founder. They did a recent business show on TV about him and his airline, he is actually a millionaire from his first start-up airline which he sold, not many people can claim that ! He is also a good family man and a devout Mormon (large family, 8+ kids) has done missionary work in the slums of Brazil.
A totally different makeup from the Enron boys.

Because of his prior background he was able to raise and started off with $150 million in cash and with a fleet of new jets.

I believe he has said the days of the startup with old B737’s or DC9’s is over. I am a little leery when someone claims the rules are being re-written, rules are rules and they seldom change. The last time someone said the rules where being re-written was on the dot com stocks run up, but the old rules prevailed and they all crashed and burned.

Jet Blue has a good chance of making it because of the current market conditions. They are a point to point airline, UAL is not in a position to punish them with a fare war. They have economies of scale and have achieved critical mass. Don’t expect them to start going through Dallas or Atlanta because AA or DAL would match or beat their fares.
There is plenty of documentation showing that startups were matched or beaten on fares when they came onto the major airline’s radar screen and were perceived as a threat.
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