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NEW YORK/CHICAGO - JetBlue Airways Corp (NASDAQ:JBLU) and United Airlines Holdings Inc (NASDAQ:UAL), a prominent player in the passenger airlines industry with a market capitalization of $29.92 billion, announced Tuesday they have received clearance from the U.S. Department of Transportation to implement their "Blue Sky" collaboration, with customer benefits set to begin rolling out this fall.
The partnership will allow customers to earn and use loyalty program benefits across both airlines’ networks. United’s MileagePlus members will be able to earn and use miles on most JetBlue flights, while JetBlue’s TrueBlue members will gain similar benefits on United’s domestic and international routes. United Airlines has demonstrated strong financial performance, with revenue reaching $57.99 billion in the last twelve months and maintaining a healthy earnings per share of $10.11.
The collaboration includes a traditional interline agreement enabling each airline to offer flights on the other’s website and mobile app, simplifying booking across their networks.
Loyalty program benefits such as priority boarding, complimentary access to preferred seating, and same-day flight changes will be honored when customers travel on either airline.
As part of the agreement, JetBlue will provide United access to slots at JFK International Airport for up to seven daily round-trip flights from Terminal 6, beginning as early as 2027. The airlines will also exchange eight flight timings at Newark in what they described as a "net-neutral exchange."
Additionally, United will transition its online travel booking services for hotels, rental cars, cruises, and travel insurance to technology provided by JetBlue’s Paisly platform.
The companies indicated they will share more implementation details in the coming weeks, according to the press release statement.
In other recent news, United Airlines has reported its second-quarter earnings, showing earnings per share of $3.87, surpassing consensus estimates and various analyst projections. Despite a 4% year-over-year decline in total revenue per available seat mile, the airline’s earnings exceeded expectations, benefiting from lower-than-anticipated non-fuel unit costs. Following these results, several financial firms have adjusted their price targets for United Airlines. CFRA raised its price target to $103, citing the airline’s strong consumer base and flexible fleet. Freedom Broker increased its target to $98, acknowledging United’s solid quarterly performance, although it noted the results did not generate as positive a reaction as those from Delta Air Lines. Evercore ISI also increased its target to $105, maintaining an Outperform rating, while UBS reiterated a Buy rating with a $103 price target. These developments reflect a generally optimistic outlook from analysts, highlighting United Airlines’ ability to navigate current market conditions effectively.
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