Originally Posted by
MainlineFlyer
The tone of voice is irrelevant. They could be announcing BK and it would be business as usual to the investor class.
The merger is a question mark as far as I can tell, yes, after 10 years of voluntarily not growing in order to buy back more stock we now are too small to play. We didn't need to buy Spirit of all companies, and we definitely didn't need to do it under the terms we agreed to. We could have bought Allegiant, or Hawaiian, or merged with AK. Our management team got very emotional about the Spirit Frontier tie up, and it showed in their reaction to it.
But all the "Should we buy NK or not?" questioning is irrelevant when our top line revenue is down almost 10% YOY. Our customers are going elsewhere. Demand for air travel isn't down, demand for Jetblue is. Our competitors are GAINING revenue. 10+ years of neglecting our employees, and our operation, and taking our customers for granted has started to come home to roost. Instead of "I love jetblue!" I hear "Oooh, what happened to you guys?" and it shows in our revenue. As our management team scrambles to cut cost in response to this we will probably end up gutting our product, making the entire problem worse. Our customers are premium customers in premium cities. They are leaving us for DAL, not NK. It's not an accident that every time they put mint into a market it suddenly becomes profitable. We need to figure out who we are and who we are competing against, and adjust accordingly.
As to the company should have been growing, versus buying back stock, you and I agree 100%.
To most of the rest of it, we will have to agree to disagree.