JetBlue Airways (B6, New York JFK) has announced it will launch a USD750 million share buyback plan on January 1, 2018. According to an SEC filing, the plan has been authorised to run for a period of two years, through to the end of 2019.
The New York-based budget carrier told investors that new fares and fees introduced in 2016, including a USD20 charge for first checked luggage in the lowest fare class, generated USD260 million in revenue last year. That is USD60 million more than expected, Reuters has reported.
JetBlue’s previous share repurchase program was for USD500 million worth of shares and began on January 1, 2016. The program was completed earlier this year.
