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JetBlue raised over $115 million by securing 25 Airbus A321s through pass-through certificates.
The airline announced on 27th it raised capital $115,584,000 with interest payable semi-annually on May 15th and November 15th. Final payments will be due in 2027.
A pass through certificate (PTC) is a certificate that is given to an investor against certain mortgaged-backed securities that lie with the issuer.
The airline incurred a loss of $2.02 per share during the Q2 of 2020, above the estimated loss of $1.86.
Moreover, operating revenues plunged 89.8% year over year and exited the quarter with cash and cash equivalents of $2,561 million compared with $959 million at the end of 2019.
Total debt reported was $4,776 million compared with $2,334 million at 2019 end, and the total liquidity stood at $3.4 billion at the end of the June quarter.