JetBlue’s (JBLU) shares fell over 3% on Thursday morning, scaling back the previous day’s 13.37% gain after the U.S. low-cost airline denied reports it was considering a potential merger with its rivals. The denial dampened investors’ mood despite the New York-based company adding a new route at the Fort Lauderdale-Hollywood International (FLL) Airport.
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JetBlue Expands Routes at FLL
FLL is JetBlue’s third-largest focus city, according to David Jehn, a vice president at the airline. This means the airport is a non-primary venue from which JetBlue operates numerous nonstop flights.
Earlier this month, JetBlue introduced four new popular routes at FLL and is now adding a new route from the airport to Cleveland, Ohio. The airline, which is the airport’s largest carrier, also plans to double down on its flight operations across nine of its popular existing routes.
JetBlue Races for a Turnaround
JetBlue’s shares soared on Wednesday after Semafor reported that the airline had hired advisers to evaluate a potential sale of its business to rivals such as United Airlines (UAL), Alaska Airlines (ALK), and Southwest Airlines (LUV). The report emerged as the airline’s shares have dropped about 12% over the past 12 months and have only seen about a 2% gain since the start of the year.
Investors have been dissuaded by JetBlue’s long-running efforts to make a business turnaround, with passengers turning to rivals such as Spirit Airlines (FLYYQ) and Frontier (ULCC). This comes even as the airline’s effort to merge with rival Spirit Airlines fell apart in 2024 on regulatory grounds.
Under the Jet Forward Program, the airline’s branded multi-year transformation initiative, JetBlue delivered a $305 million increase in its earnings before interest and tax in 2025. Yet, the company remains in the red, with its operating revenue dropping by 2.3% year-over-year to $9.1 billion in 2025.
Is JetBlue a Buy, Hold, or Sell?
On Wall Street, analysts remain very bearish on JetBlue’s shares and have a Moderate Sell rating on the stock. This is based on eight Holds and three Sells assigned over the past three months.
Moreover, the average JBLU price target of $5.04 only implies about 9% upside from current trading levels.
