JetBlue Airways Corporation (JBLU - Free Report) announced plans of adding 30 new domestic routes in a bid to meet the gradually increasing demand for leisure and VRF (visiting friends and relatives) travel. Since business travel recovery rate is still low due to the COVID-19 pandemic, JetBlue is using this as an opportunity to generate revenue and bring back idle aircraft into service apart from boosting flying opportunities for its crewmembers.
In another customer-friendly move, this low-cost carrier announced the expansion of its hugely successful premium service, Mint. Daily non-stop flights connecting Newark Liberty International Airport (EWR) to both Los Angeles International Airport (LAX) and San Francisco International Airport (SFO) will have Mint features like lie-flat beds, private suites, 10-inch video screens in addition to other special amenities. JetBlue’s Mint service has gained tremendous popularity, particularly among the corporate class, since it was launched mainly because of its affordability compared to the charge on business travel imposed by its peers.
JetBlue will start serving these new routes with jets which are presently inactive. JetBlue aims to start operating on the new routes between July and October this year. The carrier will utilize its Airbus A320 aircraft for operating on all new, non-Mint routes.
Zacks Rank & Key Picks
JetBlue carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Zacks Transportation sector are Scorpio Tankers Inc. (STNG - Free Report) , Teekay Tankers Ltd. (TNK - Free Report) and Nordic American Tankers Limited (NAT - Free Report) . All the stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Scorpio Tankers’ current-year earnings has been revised upward in excess of 100% in the past 60 days.
The Zacks Consensus Estimate for Teekay Tankers’ current-year earnings has been revised upward by 35.6% in the past 60 days.
The Zacks Consensus Estimate for Nordic American Tankers’ current-year earnings has been moved 14.1% north in the past 60 days.
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