NEW YORK - JetBlue (NASDAQ:JBLU), the $2.65 billion market cap airline whose stock has surged over 53% in the past year, has become the first airline to integrate Venmo as a payment method for flight bookings on its website, with plans to extend the service to its mobile app in the near future. According to InvestingPro analysis, the company's stock is currently trading near its Fair Value. The initiative, announced today, allows U.S. customers to pay for their flights using their Venmo balance, or linked bank accounts, debit cards, or credit cards.
Carol Clements, JetBlue's chief digital and technology officer, emphasized the airline's commitment to simplifying the booking process on JetBlue's digital platforms. The partnership with Venmo aligns with this goal by providing customers with a payment option that is already familiar and convenient for them.
The collaboration is also highlighted by PayPal (NASDAQ:PYPL)'s senior vice president and general manager of consumer, John Anderson, who noted that paying with Venmo for JetBlue flights addresses the challenges of shared expenses during travel, from booking to the journey's end. With JetBlue's upcoming earnings report scheduled for January 28, 2025, investors are watching closely as seven analysts have recently revised their earnings expectations upward, according to InvestingPro data.
JetBlue's digital advancements have been ongoing, with the airline introducing new features to its mobile app in September 2024. These include a countdown to boarding on phone lock screens and more readily available gate information, further enhancing the travel experience for JetBlue customers.
Customers who book directly through JetBlue's website or mobile app are assured of the lowest fares offered by the airline. They also enjoy additional perks such as access to exclusive fare sales and promotions, the ability to earn double TrueBlue points, seamless seat selections, upgrades, and direct access to JetBlue's customer service.
Based in New York, JetBlue is a prominent carrier in several major cities, offering flights to over 100 destinations in the Americas, Canada, and Europe, generating annual revenue of $9.3 billion. Venmo, known for its user-friendly and social payment features, continues to facilitate transactions for millions of users in the United States. InvestingPro subscribers have access to over 10 additional exclusive ProTips and comprehensive analysis about JetBlue's financial health, including detailed insights about its debt structure and operational efficiency.
This partnership with Venmo is part of JetBlue's ongoing efforts to enhance customer experience through digital technology, making the booking and travel process more convenient. The information for this article is based on a press release statement.
In other recent news, JetBlue Airways has been the focus of several significant developments. Citi analysts maintained a Neutral rating for JetBlue, adjusting the price target to $7.90 due to an anticipated increase in revenue per available seat mile (RASM). The EPS estimates for 2024 and 2025 have been revised, reflecting a stronger expected RASM. Meanwhile, BofA Securities downgraded Southwest Airlines (NYSE:LUV) Co.'s stock rating from Neutral to Underperform, citing concerns about the airline's limited involvement in corporate, premium, and international routes.
JetBlue also faced some operational challenges, as two unidentified bodies were found in the wheel well of one of their planes after landing in Fort Lauderdale. The airline is currently undergoing an investigation. Additionally, the US Transportation Department imposed a $2 million fine on JetBlue for continuous flight delays and setting unrealistic schedules.
In an interview, JetBlue's CEO, Joanna Geraghty, urged the incoming administration to strengthen the country's air traffic control system, pointing out inadequate staffing and outdated technology as significant burdens. The airline also announced plans to introduce first-class sections on its domestic flights starting in 2026. Lastly, Morgan Stanley (NYSE:MS) resumed coverage of JetBlue stock with an Equalweight rating, focusing on the airline's strategic plan, JetForward, set to unfold in 2025.
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