Issue Summary

Ryanair’s tailwinds are certainly not fading. The Irish LCC—arguably the most successful airline that ever flew—had another great year in 2023, never mind some routine wintertime losses. JetBlue, on the other hand, faces gale-force headwinds as its grand strategic plans lay in shambles. No more alliance with American. No more (barring a successful appeal) merger with Spirit. Instead, it will look to mop its red ink by restructuring its network, downsizing staff, deferring aircraft deliveries, and introducing new product offerings—more on that when it hosts an investor day this spring.