U.S. markets close in 3 hours 14 minutes
  • S&P 500

    3,793.60
    -56.02 (-1.46%)
     
  • Dow 30

    30,607.23
    -329.81 (-1.07%)
     
  • Nasdaq

    13,477.39
    -148.67 (-1.09%)
     
  • Russell 2000

    2,127.24
    -22.62 (-1.05%)
     
  • Crude Oil

    53.04
    +0.43 (+0.82%)
     
  • Gold

    1,842.50
    -8.40 (-0.45%)
     
  • Silver

    25.29
    -0.25 (-0.97%)
     
  • EUR/USD

    1.2118
    -0.0050 (-0.41%)
     
  • 10-Yr Bond

    1.0110
    -0.0290 (-2.79%)
     
  • GBP/USD

    1.3706
    -0.0026 (-0.19%)
     
  • USD/JPY

    104.0800
    +0.4530 (+0.44%)
     
  • BTC-USD

    30,247.85
    -1,729.32 (-5.41%)
     
  • CMC Crypto 200

    609.02
    -30.90 (-4.83%)
     
  • FTSE 100

    6,567.37
    -86.64 (-1.30%)
     
  • Nikkei 225

    28,635.21
    +89.03 (+0.31%)
     

JetBlue (JBLU) Sued for Refusal to Show Fares on Booking Sites

Zacks Equity Research
·2 min read

Per a Reuters report, JetBlue Airways Corporation JBLU has been sued by Fareportal Holdings for allegedly disallowing the latter and other online travel agencies to display the its fares alongside that of other carriers, so that the airline can divert travelers to its website and illegally charge more.

In the antitrust lawsuit filed in the federal court in Brooklyn, NY, Fareportal is seeking unspecified damages. Fareportal alleged that by not allowing its fares to be displayed, JetBlue was trying to limit consumer choices in order to boost its fares along the strongest routes, including to and from New York, Los Angeles, Boston, Florida and Puerto Rico.

Per the complaint, “JetBlue is using COVID-relief handouts from American taxpayers to take American consumers for a ride,” and is also trying to “make it difficult if not impossible for travelers to determine the airline that offers the best combination of price and service”.

JetBlue Airways Corporation Price

JetBlue Airways Corporation Price
JetBlue Airways Corporation Price

JetBlue Airways Corporation price | JetBlue Airways Corporation Quote


Apparently, more than 520,000 JetBlue tickets worth $170 million were sold through Fareportal in 2019. JetBlue is said to have ended its nearly 20-year relationship with Fareportal after abandoning talks on a multi-year extension. While JetBlue is still allowing Expedia and Priceline to show its fares, the carrier intends to stop the same “in the near future”, Fareportal stated.

Zacks Rank & Key Picks

JetBlue carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Transportation sector are ArcBest Corp. ARCB, Ryder System R and Herc Holdings HRI, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Shares of ArcBest, Ryder and Herc Holdings have gained more than 69%, 20% and 47% in a year’s time, respectively.

Biggest Tech Breakthrough in a Generation

Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.

A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.

See 8 breakthrough stocks now>>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
JetBlue Airways Corporation (JBLU) : Free Stock Analysis Report
 
Ryder System, Inc. (R) : Free Stock Analysis Report
 
ArcBest Corporation (ARCB) : Free Stock Analysis Report
 
Herc Holdings Inc. (HRI) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research