Long Island City, NY-based JetBlue Airways Corp. JBLU has become the first carrier to operate direct charter flights on the New York-Havana route after the Obama government announced its decision to ease travel restrictions to Cuba.
The charter service on the New York-Havana route is being offered by Cuba Travel Services, a leading provider of carrier services, while JetBlue is responsible for operating the flight. The service will operate between New York City's John F. Kennedy International Airport and the Jose Marti International Airport in Havana.
Following the introduction of the new weekly charter service from NYC, the low-cost carrier now operates five weekly round trips between the U.S. and Cuba, in association with various charter partners. The services include flights from Tampa and Fort Lauderdale-Hollywood.
The easing of travel restrictions to Cuba from the U.S. after more than 50 years is a prudent move that will significantly result in increased travel to Cuba from the U.S. We note that Cuba was a favorite tourist destination among Americans prior to the embargo. However, U.S. citizens will be able to travel to Cuba only on recreational and business grounds, and research and humanitarian work. Other carriers like Delta Air Lines DAL and United Continental Holdings UAL are also looking to make the most of the lifting of travel restrictions to Cuba.
Zacks Rank
JetBlue Airways carries a Zacks Rank #3 (Hold). A better-ranked stock in the airline space is Deutsche Lufthansa Aktiengesellschaft DLAKY with a Zacks Rank #1 (Strong Buy).
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