JetBlue Announces Proposed Senior Secured Loyalty Notes Offering and Senior Secured Loyalty Term Loan Page 1

NEW YORK, NY, August 12, 2024 (GLOBE NEWSWIRE) — JetBlue Airways Corporation (NASDAQ: JBLU) (“JetBlue”) today announced that JetBlue and JetBlue Loyalty, LP (the “Loyalty LP” and, together with JetBlue, the “Issuers”), a newly incorporated Cayman Islands exempted limited partnership and an indirect wholly-owned subsidiary of JetBlue, intend to (1) commence a private offering of a proposed $1,500 million aggregate principal amount of senior secured notes due 2031 (the “Loyalty Notes”) and (2) launch a proposed $1,250 million aggregate principal amount of senior secured Term Loan B due 2029 (the “Loyalty Term Loan”).

The Loyalty Notes and the Loyalty Term Loan are each guaranteed by certain subsidiaries of JetBlue. The Loyalty Notes are secured, on a pari passu basis with the Loyalty Term Loan, by, among other things, a first-priority lien on the core assets of JetBlue’s customer loyalty program, TrueBlue. The issuers intend to use the net proceeds from the Loyalty Notes and the Loyalty Term Loan for general corporate purposes.