JetBlue shares jump 5%; Southwest considers expanding fleet after 2013
JetBlue Airways has been upgraded from “hold” to “buy” by Soleil Securities, with the investment company forecasting that the increases in international fuel surcharges and the rise in domestic fares instituted by the company may more than offset the increase in fuel costs. Shares in JetBlue rose 5.1% on Friday, hitting an eight-week high.
Southwest Airlines announced it may start to expand its fleet again in 2013 with the carrier’s most likely choice being B737-800s. CEO Gary Kelly stated the carrier is attempting to restore profitability to the point “where it is financially justified to commit to buying aircraft”.
United Continental Holdings stated it has hedged 44% of its expected jet fuel requirements in 2011.
VivaColombia announced plans to start operating in Colombia in 2012. The LCC will reportedly cover high-traffic routes between Cartagena, Cali, Medellin, Bogota, Barranquilla and Bucaramanga. The new company is spearheaded by Declan Ryan, owner of Ryanair, as well as other business groups IAMSA, Grupo Fast and Grupo Bolivar.
Selected AAD daily share price movements (% change): 26-Mar-2011