Originally Posted by
PasserOGas
According to this article it's $2-3B for the expansion.
https://thepointsguy.com/news/jetblu...ansion-at-jfk/
So maybe more than half our market cap.
I didn't realize how expensive it was going to be. This doesn't bode well for expanding the fleet size. We will be leveraged up to the hilt.
If we had held cash instead of buying back $1B of stock at $22/share maybe it wouldn't require as much financing.
Maybe we can use the steady stream of profits from our tech ventures to pay for it.
Agree the stock buy back is a waste. Whats worse, is that after pumping that much money into the company, all we have to show for it is a 20% decline in stock price. A true waste.
However, if we are purchased, the real estate we control (like JFK 5-7) would likely be the biggest selling point. So I don't think spending the money on real estate is a bad course of action (as opposed to spending billions on something that costs 1B+ to lose 20%.