A group of senior creditors to JetBlue Airways has reportedly hired financial and legal advisors as the airline faces mounting financial pressure, falling bond prices and rising fuel costs that have complicated turnaround efforts.

The creditors are working with investment bank PJT Partners and law firm Akin, according to The Wall Street Journal , which cited people familiar with the matter.

JetBlue's roughly $2 billion in senior secured notes due in 2031 fell to approximately 42 cents on the dollar Thursday before recovering to the mid-40-cent range Friday, the Journal reported. Last month the bonds were trading near 80 cents.

Bloomberg separately reported that the creditor group includes holders of the $2 billion in bonds and a $742 million secured loan.

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A JetBlue Airways Airbus A321 airplane approaches San Diego International Airport for a landing from Boston on April 20, 2025, in San Diego, California.…