NEW YORK, Feb 19 (Reuters) - JetBlue Airways ( JBLU )
said on Wednesday that it is still in talks with multiple
airlines to establish a partnership and is willing to allocate
more funds to get a deal done.
In November, the Boston-based 1st U.S. Circuit Court of
Appeals sided with the U.S. Department of Justice in blocking
the JetBlue ( JBLU ) and American Airlines' ( AAL ) "Northeast Alliance," which
had allowed the two carriers to coordinate flights and pool
revenue.
"When I look at the benefits that we got from the
partnership we had, I think that's something that's attractive
for us," JetBlue ( JBLU ) President Martin St. George told the audience
at the Barclays 42nd Annual Industrial Select Conference in
Miami, Florida.
The biggest benefit of a partnership would be improving the
utility of the company's loyalty points for customers which
trails multiple competitors, he said.
"If we find a deal that's accretive, we'll absolutely do
it," St. George said, adding that the company is looking forward
to letting the Northeast Alliance "play out in the original
design."
The Justice Department under the Biden Administration argued
that the alliance would hurt consumers, saying the partnership
eliminated incentives for American to cut prices to lure
customers from JetBlue ( JBLU ), a historically disruptive rival with
often lower fares.
St. George said there is money in its JetForward plan
allocated for partnership but said if the number had to change,
the company will provide a guide, adding that a financier would
be good for the airline.
The company said its JetForward initiatives included
priorities to improve the company's reliability, network,
product and financial future, targeting $800 million to $900
million for incremental EBIT through 2027.