While not official, looks like JB has been awarded even more slots than they asked for......
Delta Turns Up the Heat on JetBlue in New York
By Eric Gillin
TheStreet.com Staff Reporter
01/28/2004 11:58 AM EST
Click here for more stories by Eric Gillin
JetBlue's (JBLU:Nasdaq - commentary - research) growth plans appear to include LaGuardia Airport in New York, but rivals have made aggressive moves to compete, causing Goldman Sachs to downgrade the low-cost carrier's shares.
Late Tuesday night, Morgan Stanley told investors that JetBlue has been given the right to fly from LaGuardia Airport in the spring. But because of the increased competition from rivals, especially Delta Air Lines (DAL:NYSE - commentary - research), Goldman Sachs downgraded JetBlue, sending shares down more than 8%.
Morgan Stanley analyst William Greene told investors that sources at the Federal Aviation Administration awarded JetBlue 11 slots at LaGuardia on Friday, following the carrier's application for the slots a week ago. According to Greene, JetBlue will get four morning slots, two afternoon slots and five evening slots, and could be awarded three more late-night slots. The award comes a week after the low-cost carrier submitted its application to start flying from a second New York airport.
"These are very attractive time slots," said Greene. "According to [the] FAA, it is very rare for slots during the morning [and] day to become available at LaGuardia. So, JetBlue's application for slots this week may have been opportunistic." (Morgan Stanley does and seeks to do business with the companies mentioned in its research reports.)
JetBlue, which had applied for 10 slots a week ago, didn't confirm the approval from the Department of Transportation and the Federal Aviation Administration. (The DOT and FAA didn't return a call for comment.)
"We haven't received final approval from the DOT and FAA," said Todd Burke, spokesperson for JetBlue. "During the exploratory process it seems that there may have been 11 slots available, and if that's the case we will amend the application, but at this point we have not been awarded anything."
If the slots are awarded, JetBlue said that it would announce routes shortly after and will spend two to three months preparing the LaGuardia space for customer service, with an eye on a springtime debut of service.
Delta Turns Up the Heat on JetBlue in New York
By Eric Gillin
TheStreet.com Staff Reporter
01/28/2004 11:58 AM EST
Click here for more stories by Eric Gillin
JetBlue's (JBLU:Nasdaq - commentary - research) growth plans appear to include LaGuardia Airport in New York, but rivals have made aggressive moves to compete, causing Goldman Sachs to downgrade the low-cost carrier's shares.
Late Tuesday night, Morgan Stanley told investors that JetBlue has been given the right to fly from LaGuardia Airport in the spring. But because of the increased competition from rivals, especially Delta Air Lines (DAL:NYSE - commentary - research), Goldman Sachs downgraded JetBlue, sending shares down more than 8%.
Morgan Stanley analyst William Greene told investors that sources at the Federal Aviation Administration awarded JetBlue 11 slots at LaGuardia on Friday, following the carrier's application for the slots a week ago. According to Greene, JetBlue will get four morning slots, two afternoon slots and five evening slots, and could be awarded three more late-night slots. The award comes a week after the low-cost carrier submitted its application to start flying from a second New York airport.
"These are very attractive time slots," said Greene. "According to [the] FAA, it is very rare for slots during the morning [and] day to become available at LaGuardia. So, JetBlue's application for slots this week may have been opportunistic." (Morgan Stanley does and seeks to do business with the companies mentioned in its research reports.)
JetBlue, which had applied for 10 slots a week ago, didn't confirm the approval from the Department of Transportation and the Federal Aviation Administration. (The DOT and FAA didn't return a call for comment.)
"We haven't received final approval from the DOT and FAA," said Todd Burke, spokesperson for JetBlue. "During the exploratory process it seems that there may have been 11 slots available, and if that's the case we will amend the application, but at this point we have not been awarded anything."
If the slots are awarded, JetBlue said that it would announce routes shortly after and will spend two to three months preparing the LaGuardia space for customer service, with an eye on a springtime debut of service.
