[ACCESSWIRE]
LONDON, UK / ACCESSWIRE / August 1, 2016 / Active Wall St. blog coverage looks at the headline from JetBlue Airways Corporation (NASDAQ: JBLU) as the company announced on Thursday, July 28, 2016, that it would start flight services to Cuba from August 31, 2016 onwards. JetBlue's declaration thwarts plans announced by American Airlines Group Inc. (NASDAQ: AAL) and Silver Airways which had scheduled flights to Cuba starting from September 1, 2016 and September 7, 2016 respectively. Register with us now for your free membership and blog access at: http://www.activewallst.com/register/.
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Flights schedules
JetBlue, a low-cost carrier and the fifth largest in the US, will become part of history as it will become the first commercial airline to fly from the US to Cuba in more than 50 years. JetBlue initially starts flight operations on the Fort Lauderdale-Hollywood International Airport (FLL) and Santa Clara - Abel Santamaría Airport (SNU) route. The service will initially start with flights thrice a week – Monday, Wednesday and Friday, subsequently this will be converted to daily flights. JetBlue has planned daily operations on two more routes from FLL – to Camagüey – Ignacio Agramonte Airport (CMW) starting November 3, 2016 and to Holguín – Frank País Ailirport (HOG) starting November 10, 2016. These plans still await approval from the Cuban government, however the company is confident of getting the go ahead before the operations commence. The U.S. Department of Transportation (DOT) awarded approval for Cuba travel to six U.S. airlines in June 2016.
JetBlue has already begun the sale of tickets. The competitive fare at $ 99 one-way makes it the cheapest option in the current market. The fares included the mandatory Cuban government health insurance and taxes, which will reduce one major hassle for customers who have to obtain health insurance separately. The fares are cheaper if compared to charter flight rates which are around $600.
Impact on travel between US & Cuba
With improving relations between the US and Cuba the tourism sector opened up new opportunities for travel to and from both countries. Back in June, the DOT issued an order authorizing six U.S. airlines to provide scheduled passenger flights between various U.S. cities and cities in Cuba other than Havana. The applications of American Airlines, Frontier, JetBlue, Silver Airways, Southwest Airlines Co. (NYSE: LUV), and Sun Country were then approved by the DOT.
Americans are still restricted to travel to Cuba for tourism, and they require an entrance visa to Cuba. However, they can travel under any one of the twelve official categories approved by US regulations. The citizens have to provide an affidavit giving one of the twelve reasons approved before they get to travel to Cuba. JetBlue has assured customers that its booking process incorporates these requirements and can be completed with just a few clicks. Additionally, visas at check-ins will be offered by JetBlue at $50.
Future Plans
JetBlue has been tentatively awarded the rights to fly to Havana from Fort Lauderdale, New York's Kennedy Airport and Orlando. Announcements for JetBlue's flights to Havana will be made at a later date. JetBlue has been offering charter services to Cuba since 2011. The addition of commercial flights will strengthen its presence in Cuba and complement its presence in the Caribbean and Latin America.
JetBlue is considering additional routes to Europe which would be a huge strategic shift, given that it is basically a domestic/ regional player at this stage.
Stock Performance
JetBlue's stock ended last Friday's trading session at $18.33, down 2.03%. A total of 7.74 million shares were traded. The company's stock has gained 11.70% in the past one month.
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SOURCE: Active Wall Street
