NEW YORK (AP) JetBlue Airways Corp. said Tuesday it will put off buying 21 new Airbus jetliners it planned to receive starting next year for four to five years because of rising fuel costs.
The A320 planes, which were originally scheduled for delivery from 2009 through 2011, will now be delivered in 2014 and 2015.
Spokeswoman Alison Eshelman declined to say how much the airline, based in Forest Hills, N.Y., hoped to save by deferring delivery of the planes.
Meanwhile, JetBlue said it plans to offer $160 million worth of bonds that will be convertible into stock and come due in 2038. Morgan Stanley & Co. and Merrill Lynch & Co. are acting as joint book-running managers for the offering.
Part of the proceeds from the offering will be placed into an escrow account to pay interest for the debentures during the first three years, while the remainder will be used to pay off other bonds that mature five years earlier.