The increase in the cost of fuel following the Iran war escalated the financial pressure on the Jet Blue airline.

The increase in the cost of fuel following the Iran war escalated the financial pressure on the Jet Blue airline.

The Wall Street Journal reported that a group of major creditors of the American airline JetBlue, following increased financial pressure on the company, began working with the financial consulting company Pageity Partners to examine the financial restructuring.

According to Reuters, the sharp increase in the cost of jet fuel following the Iran war put pressure on the profit margins of American airlines; However, ticket prices have risen and demand for air travel remains constant.

JetBlue stock is down 42% since the start of the year. At the same time, this company implements plans to reduce costs, change the operational structure and expand special services for passengers. According to JetBlue's financial statements, the company had about $1.66 billion in cash and cash equivalents as of the end of June, while total debt and liabilities from its finance leases reached $8.5 billion.

JetBlue and Paget Partners did not respond to a request for comment by the time of Reuters' report.