Low-cost airlines operator JetBlue Airways (NASDAQ: JBLU) recently revealed that it has officially launched services between New York’s John F. Kennedy International Airport (JFK) and Puerto Vallarta’s Gustavo Diaz Ordaz International Airport (PVR).
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Puerto Vallarta, which is located between the Sierra Madre Mountains and Banderas Bay on Mexico’s Pacific coast, now becomes JetBlue’s third destination in Mexico.
Strategic Impact
Puerto Vallarta’s addition as a destination enhances JetBlue’s presence in the region further.
Notably, JetBlue now becomes the only airline to serve Puerto Vallarta with nonstop service from New York-JFK and offer more weekly flights between greater New York City and the Mexican Pacific coast destination than any other airline.
Management Commentary
The Vice-President of Network Planning at JetBlue, Andrea Lusso, said, “As demand for travel continues to increase, we are excited to introduce the new route to Puerto Vallarta, offering our Northeast customers a new destination in Mexico. We look forward to continuing expanding our network and international presence in Latin America as part of our growth strategy.”
Analyst Rating
The Wall Street community is cautiously optimistic about the stock with a Moderate Buy consensus rating based on 4 Buys, 3 Holds and 1 Sell. The average JetBlue price target of $18.79 implies that the stock has upside potential of 21.2% from current levels. Shares have declined 16.2% over the past year.
Website Traffic
TipRanks’ Website Traffic Tool, which uses data from SEMrush Holdings (SEMR), the world’s biggest website usage monitoring service, offers insight into JetBlue’s performance this quarter.
According to the tool, year-to-date, the JetBlue website traffic recorded a rise of 17.13%, compared to the previous year.
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