A group of senior creditors to JetBlue Airways has engaged financial adviser PJT Partners and law firm Akin amid cash burn concerns.
The airline's $2 billion notes due 2031 fell sharply to 42 cents on Thursday before recovering slightly to the mid-40s on Friday.
JetBlue stock has lost approximately 58% in value since the beginning of August, with total debt and lease obligations reaching roughly $8.5 billion in June.