JetBlue Airways Corp. (JBLU - Analyst Report) recently announced that it has signed a unilateral codeshare agreement with Hyannis, MA-based Cape Air, expanding its partnership with the latter.
Per this deal, JetBlue will be tagging Cape Air flights between certain destinations with its code “B6”. The agreement will be highly beneficial for customers as a single ticket can be used for flights operated by both airlines. Customers also stand to gain from ease of travel through options such as one-stop check-in and baggage transfer.
The agreement will cover Cape Air flights operating between Boston and San Juan, which are important cities for JetBlue, as well as Cape Air destinations across northeast and the Caribbean. The JetBlue code for Cape Air flights operating between Boston’s Logan International Airport and San Juan’s Luis Muñoz Marín International Airport are already available for booking on JetBlue’s website.
JetBlue and Cape Air have been collaborating since 2007. Some other initiatives between the two companies include University Gateway Program and interline ticketing, as mentioned by Cape Air’s President Linda Markham.
JetBlue has been consistently expanding its routes to tap into growing markets and boost its top-line growth. Some notable announcements in this regard include expansion of services from Long Beach to several destinations across the U.S., new service between Fort Lauderdale-Hollywood and Aruba in the Caribbean, non-stop service to Atlanta, and the expected increase in the number of flight departures from Boston.
Zacks Rank and Stocks to Consider
JetBlue currently carries a Zacks Rank #3 (Hold). A stock in this industry with Zacks Rank #1 (Strong Buy) is Copa Holdings SA (CPA - Snapshot Report) . You can see the complete list of today’s Zacks #1 Rank stocks here. Investors might also take a look at better-ranked stocks in the airline space like ANA Holdings Inc. (ALNPY - Snapshot Report) and SkyWest Inc. (SKYW - Snapshot Report) . Both these stocks carry a Zacks Rank #2 (Buy).
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