JetBlue expands vacation insider program to San Juan

SAN JUAN - JetBlue Vacations announced Tuesday the expansion of its Insider Experience program to San Juan, Puerto Rico, adding to the seven destinations where the service is already available. The expansion comes as the airline, currently valued at $1.75 billion in market capitalization, seeks to strengthen its revenue streams amid challenging market conditions.

Customers who book flight and hotel packages to San Juan through JetBlue Vacations will receive complimentary airport transfers, a meet-and-greet service upon arrival at Luis Muñoz Marín International Airport, and 24/7 access to local experts throughout their stay.

The program also includes a free guided walking tour of Old San Juan for all package customers, offered in partnership with the Municipality of San Juan. The tour covers historical landmarks including San Juan Bautista Cathedral and San Felipe del Morro Fort.

"Puerto Rico has always been a favorite destination for our JetBlue Vacations customers," said Jamie Perry, president of Paisly, JetBlue’s travel subsidiary, according to the press release.

JetBlue (NASDAQ:JBLU) currently operates more scheduled flights to Puerto Rico than any other carrier, making it the largest airline serving the island.

The Insider Experience program, which launched in 2020, is already available in Aruba, Cancún, Montego Bay, Punta Cana, Nassau, St. Lucia and Tulum. The service provides travelers with on-the-ground support including personalized recommendations and assistance with booking activities and excursions.

Willianette Robles, Executive Director of the Puerto Rico Tourism Company, stated that the program "offers visitors authentic and meaningful experiences while supporting local businesses and promoting the rich culture and history of our capital city."

The expansion comes as JetBlue continues to strengthen its presence in Puerto Rico, having recently launched a new crew base in San Juan. Based on InvestingPro’s Fair Value analysis, JetBlue’s stock appears slightly undervalued, despite facing significant headwinds with a -26.7% price return over the past six months.

In other recent news, JetBlue Airways announced a collaboration with United Airlines named "Blue Sky," aimed at enhancing the travel experience for customers of both airlines. This partnership allows travelers to book flights on either airline’s website and earn and use points interchangeably in their frequent flyer programs. JetBlue will provide United Airlines with slots at JFK Airport for up to seven daily round-trip flights starting in 2027. The collaboration, pending regulatory approval, will also enable loyalty program members to enjoy benefits such as priority boarding and seat upgrades. Despite the partnership, JetBlue CEO Joanna Geraghty clarified that this is not a precursor to a merger with United Airlines.

Analysts have weighed in on these developments, with Morgan Stanley maintaining its Equalweight rating for JetBlue, citing potential benefits from the collaboration but noting no immediate groundbreaking impact. In contrast, Raymond James downgraded JetBlue’s stock rating to Market Perform, suggesting that the current market position reflects a balanced risk/reward scenario. The analyst from Raymond James acknowledged that while JetBlue remains resilient, the recent surge in market sentiment is now adequately reflected in the stock’s valuation. These recent developments highlight JetBlue’s strategic moves to enhance customer experience while maintaining its independent operations.

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