JetBlue’s top executive stated that the airline has not entered into negotiations with lenders regarding a reorganization of its obligations. CEO Joanna Geraghty told Reuters that the company is not considering a debt restructuring, an effort to stabilize the airline’s financial image after its bonds suffered a sharp selloff and reports emerged that creditors had hired outside advisers.

The denial follows a series of reports that JetBlue’s lenders had engaged PJT Partners and Akin to coordinate restructuring efforts. The carrier has struggled with rising costs, reporting a $257 million loss for the third quarter as fuel expenses climbed 61%. However, JetBlue shares rose nearly 15% on Oct 27 following a company forecast that it will generate positive free cash flow by 2028 and return to profitability by 2027.