Leading Investment Publication Questions JetBlue to Worcester
Monday, April 08, 2013
Seeking Alpha, which describes itself as the premier website for actionable stock market opinion and analysis, and vibrant, intelligent finance discussion, released a critical analysis of the JetBlue announcement.
"JetBlue's recently announced Worcester (MA) to Ft. Lauderdale and Orlando should be cause for concern in the eyes of investors," writes Seeking Alpha's Nick Long.
Among issues Long raises:
Massport, the agency that operates the airport is providing incentive for JetBlue by eliminating $275,000 in airport fees. Similar favorable arrangements were also made with other carriers that have required incentive in order to start service to Worcester. Massport is also providing $150,000 in free marketing.
As JetBlue looks to expand services within New England, it makes sense for the company to open up operations near Boston, where the company already controls the majority of flights at the airport.
The article by Long comes just days after JetBlue's CEO, David Barger joined Governor Deval Patrick and hosts of Worcester officials making the announcement of JetBlue beginning flights this fall. JetBlue's flights are more than one year after the Airport's only airline - Direct Air - went bankrupt.
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