{"id":16759,"date":"2023-06-01T11:53:45","date_gmt":"2023-06-01T15:53:45","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/american-airlines-to-appeal-jetblue-alliance-ruling-reveals-earnings-impact\/"},"modified":"2023-06-01T11:53:47","modified_gmt":"2023-06-01T15:53:47","slug":"american-airlines-to-appeal-jetblue-alliance-ruling-reveals-earnings-impact","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=16759","title":{"rendered":"American Airlines to Appeal JetBlue Alliance Ruling, Reveals Earnings Impact"},"content":{"rendered":"
\n
<\/p>\n
<\/p>\n<\/figure><\/div>\n

\n American Airlines
\n is set to appeal a court ruling ordering the carrier to end its partnership with
\n JetBlue Airways
\n in the Northeast of the U.S.<\/p>\n

The airline\u2019s CEO Robert Isom said it intends to appeal last month\u2019s decision, which required it to unwind the alliance in just 30 days. The timing, as the peak summer season begins, couldn\u2019t have been worse.\u00a0\u00a0<\/p>\n

\n

\u201cLook, we\u2019ve got a legal system that allows for appeal and we\u2019re going to do that,\u201d Isom said at a Bernstein conference Wednesday.<\/p>\n

The carriers\u2019 alliance in the New York and Boston areas has been running for more than two years, and involves the pair sharing takeoff and landing slots at four airports in the Northeast. They also code-share on 175 routes, which is where one airline can market and sell another\u2019s flights as its own. And they share revenue generated through the alliance.<\/p>\n

But a federal judge ruled last month that the tie-up \u201csubstantially diminishes competition\u201d in the domestic market for air travel. It was a win for the Department of Justice (DOJ), which sued to block the partnership in September 2021.<\/p>\n

It\u2019s still unclear what an appeal would mean for the 30-day order. \u201cIn the meantime, we\u2019re going to have to work with the DOJ, work with JetBlue to find out exactly what we do in the interim,\u201d Isom added.<\/p>\n

American (ticker: AAL) hiked its second-quarter profit guidance in a filing Wednesday, citing continued strong demand and lower fuel costs. It also stuck to its full-year earnings guidance of $2.50 to $3.50 per share.<\/p>\n

Chief Financial Officer Devon May said he doesn\u2019t expect the Northeast Alliance ruling to have a material impact to earnings. \u201cWith our New York strategy, it isn\u2019t something that is really impactful to earnings because our non-hub flying out of New York is something less than around 5% of our total system capacity,\u201d he said at the Bernstein conference.<\/p>\n

JetBlue (JBLU) did not immediately respond to a request for comment early Thursday.<\/p>\n

Write to Callum Keown at callum.keown@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

American Airlines is set to appeal a court ruling ordering the carrier to end its partnership with JetBlue Airways in the Northeast of the U.S. The airline\u2019s CEO Robert Isom said it intends to appeal last month\u2019s decision, which required it to unwind the alliance in just 30 days. The timing, as the peak summer […]<\/p>\n","protected":false},"author":1,"featured_media":16760,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-16759","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nAmerican Airlines to Appeal JetBlue Alliance Ruling, Reveals Earnings Impact | iFintechWorld<\/title>\n<meta name=\"description\" content=\"American Airlines is set to appeal a court ruling ordering the carrier to end its partnership with JetBlue Airways in the Northeast of the U.S. The\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=16759\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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