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JetBlue (JBLU) Receives Delivery of Its First Airbus A220-300

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JetBlue Airways Corporation (JBLU - Free Report) received delivery of its first Airbus A220-300 aircraft, registered as — N3008J — on the very last day of December. JetBlue is currently expecting to take delivery of 69 more Airbus A220 aircraft, all from the family’s -300 variant. The remaining planes will be delivered in a phased manner.

This low-cost carrier aims to replace its current fleet of 60 Embraer 190 by the more efficient A220 jets. According to the carrier, the A220 will cost 30% less to operate per seat than the existing E190. A220 aircraft has longer maintenance intervals and improved reliability that will inevitably reduce maintenance cost per seat by more than 40%. The A220 is powered exclusively by Pratt & Whitney GTF engines, which deliver double-digit improvements in fuel and carbon emissions. This reduction in per-seat emission will enable JetBlue to move closer to its target of achieving net zero carbon emissions across all operations by 2040.

Robin Hayes, CEO, JetBlue, stated, “The A220 is a next-generation aircraft our customers and crewmembers will love, featuring impressive range and superior economics to support critical financial and operating priorities along with new network planning flexibility”.

The company aims to reveal the details of the modernized customer-friendly A220 cabin later this month.

Zacks Rank & Stocks to Consider

JetBlue currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader Zacks Transportation sector are Knight-Swift Transportation Holdings Inc. (KNX - Free Report) , FedEx Corporation (FDX - Free Report) and Herc Holdings Inc. (HRI - Free Report) . Knight-Swift carries a Zacks Rank #2 (Buy), while FedEx and Herc Holdings sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Long-term expected earnings per share (three to five years) growth rate for Knight-Swift, FedEx and Herc Holdings is pegged at 15%, 12% and 12.6%, respectively.

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