Originally Posted by
O2pilot
SW/JB would make no sense.
Delta or United could buy JB, but it would be better for a purchaser to wait. In 2015 JB had a market value of $8.4B and today its $4.8B. The trend is down, so maybe 1-3 years from now when JB is more affordable someone would buy them. Fragmentation is highly likely with a JB sale, because of the concentration of NY assets, which DL, UA, and AA all have huge bases there.
JBLU’s market cap is just slightly over book value. In other words, it’s market cap is priced just a tad higher than the sum of its assets if it were to be liquidated or otherwise sold off in parts. I don’t think you will see the JBLU share price drop below it’s book value, and there’s only about another buck or so to go down until it reaches that point. A sale would require a decent premium...I’d guess $25/sh.