Shrinking field leaves JetBlue on ‘short list’ of airline M&A chatter — Citi Research
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With fourth quarter earnings season over for the major U.S. airlines, Citi Research raises its outlook on the industry, issuing a positive catalyst watch for United Airlines (UAL) and American Airlines (AAL) and upgrading JetBlue Airways (JBLU) to Neutral from Sell in recognition of a consolidating industry and evolving M&A landscape.
“Bigger picture, we see upside risks emerging at JBLU,” Citi Research analyst John Godyn said in his note to clients, noting that the proliferation of mergers in the low-cost segment leaves “very few airlines left for which considering strategic optionality is even a possibility.”
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