JetBlue Airways Corporation (JBLU - Free Report) and Premier Aviation have announced that the companies have entered into a five-year agreement for heavy maintenance and painting of Embraer 190 aircrafts. Per the deal, aircraft maintenance will commence immediately on two lines of the E-190 aircraft in Rome, NY. Going forward, the deal will also include the painting of the two lines of aircraft, which will be supported in the beginning at Premier’s Trois-Rivieres, Quebec facility in 2017.
Premier Aviation has a commendable record on Embraer aircraft and is highly regarded for Regional, Narrow-body and Wide-body aircraft. The company has multiple lines of aircrafts at its NY and Quebec facilities. It believes that the deal with JetBlue would fortify its industry position. The deal also highlights JetBlue’s commitment to customer service as well as its home state.
The above mentioned agreement is likely to see job creation for skilled labor in Oneida area, in addition to Rome, NY. Both companies have historically supported the region for business and job creation.
JetBlue has been focusing on growing its network and recently announced three new daily flights between Bermuda and its Northeast focus cities. Seats for the company’s public charter service – JetSuiteX – have also begun selling, for flights operating in and out of Santa Monica, CA, starting Feb 6, 2017. The company is highly focused on customer service, despite intense competition from other industry players, such as Southwest Airlines Co. (LUV - Free Report) , Alaska Air Group (ALK - Free Report) and SkyWest Inc. (SKYW - Free Report) .
JetBlue carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We note that the stock has outperformed the broader Zacks categorized Transportation-Airlines industry. The company gained 26.82%, while the industry gained 16.88%, over the same period.
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