On Monday shares of JetBlue Airways Corp. increased on hopes the airline could benefit from a pilot strike at fellow discount carrier Spirit Airlines Inc.
The 450 pilots of Spirit Airlines walked off the job early Saturday morning amongst a dispute over pay and benefits. This is the first strike the discount carrier has had in almost five years.
The strike has stranded and inconvenienced about 16,000 passengers a day and forced some to buy expensive last minute tickets from other airlines.
Analysts claimed JetBlue and AMR Corp., parent of American Airlines, are two airlines most likely to reap benefits from Spirit’s issues as they have flights that overlap with Spirit’s service areas.
Source: The Wall Street Journal