See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
JetBlue Airways Corporation (JBLU) - free report >>
Copa Holdings, S.A. (CPA) - free report >>
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
JetBlue Airways Corporation (JBLU) - free report >>
Copa Holdings, S.A. (CPA) - free report >>
Image: Bigstock
JetBlue (JBLU) Partners With SG Preston to Boost SAF Usage
JetBlue Airways Corporation (JBLU - Free Report) is accelerating its transition to sustainable aviation fuel (“SAF”) through an offtake agreement with bioenergy developer SG Preston for a period of 10 years. The airline expects to invest more than $1 billion in purchasing SAF over the term of this agreement. The move follows President Joe Biden’s agreement with U.S. airlines earlier this month, to reduce aircraft greenhouse-gas emissions 20% by the decade’s end. The Biden administration has also set up a goal to replace kerosene-based jet fuel with “sustainable” fuel by 2050. Airlines have long been under pressure to reduce carbon emissions.
Under its agreement with SG Preston, JetBlue hopes to reach nearly 8% SAF usage by the end of 2023, when delivery of SAF is expected to begin. This significantly advances the carrier’s target to convert 10% of its total fuel usage to SAF on a blended basis by 2030. The Long Island City, NY-based carrier will also convert 30% of its fuel buy to SAF from traditional Jet-A fuel across John F. Kennedy International Airport (JFK), LaGuardia Airport (LGA) and Newark Liberty International Airport (EWR).
SG Preston will deliver at least 670 million gallons of blended SAF to JetBlue for its flight operations at JFK, LGA and EWR, starting in 2023, through a 10-year period. This is expected to reduce the airline’s approximately 1.5-million metric tons of carbon dioxide emissions.
JetBlue Airways Corporation Price
JetBlue Airways Corporation price | JetBlue Airways Corporation Quote
Zacks Rank & Key Picks
JetBlue carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader Transportation sector are Copa Holdings (CPA - Free Report) , ArcBest Corporation (ARCB - Free Report) and Herc Holdings (HRI - Free Report) . While ArcBest and Herc Holdings sport a Zacks Rank #1 (Strong Buy), Copa Holdings carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Copa Holdings, ArcBest and Herc Holdings have rallied more than 59%, 100% and 300% in a year’s time, respectively.