JetBlue has flown to Costa Rica since 2009, when it started a daily Orlando–San José route, and it's now one of the main low-fare links between the country and the US. That makes the airline's deepening financial trouble a real concern for anyone planning a Costa Rica trip, especially to Guanacaste.
The numbers are stark: six straight years of operating losses and roughly $8.4 billion in debt as of the end of September. In late October, senior creditors holding about $2 billion in notes due 2031 hired investment bank PJT Partners and law firm Akin — a step that usually precedes restructuring talks. Those notes had slid to around 42 cents on the dollar. Shares hit an all-time low on Oct. 26, and both S&P and Fitch have downgraded the airline deep into junk territory, partly blaming higher jet fuel costs.
To its credit, JetBlue is not standing still. Third-quarter revenue rose 21% to $2.8 billion on steady demand and higher fares, though the net loss still widened to $257 million. The company ended September with $2.2 billion in liquidity and expects better margins in the fourth quarter. CEO Joanna Geraghty has said the airline isn't in talks with creditors, isn't considering bankruptcy, and still targets sustained operating profitability by 2027.
The merger chatter is where it gets interesting for travellers. United, Alaska and Southwest have all been floated as possible partners, and United already partners with JetBlue through the Blue Sky alliance, which will give United up to seven daily round-trip slots at New York JFK from as early as 2027. United's CEO Scott Kirby, though, has publicly dismissed buying "a route network that loses money," and any big deal would face antitrust scrutiny.
Why should Costa Rica-bound travellers care? Because the route map is already shrinking. JetBlue dropped its Orlando–San José flight in July, citing fuel costs, and Spirit Airlines — another budget option — ceased operations entirely in May. JetBlue still links Fort Lauderdale and New York with both San José and Liberia, plus seasonal Boston–Liberia flights, and Guanacaste's hotels and tour operators depend heavily on those direct Northeast-to-Liberia routes just as the December-to-April high season begins.
The scenarios each carry different consequences. A United takeover could consolidate overlapping routes, though a bigger United footprint in Fort Lauderdale might actually strengthen South Florida connections. A restructuring under an independent JetBlue would likely mean a smaller network — and seasonal leisure routes are usually the first to go. An Alaska or Southwest deal would cause less overlap on the New York routes feeding Liberia.
For now, JetBlue is operating normally and hasn't announced further Costa Rica changes. Even in a Chapter 11 filing, airlines typically keep flying and honour tickets and loyalty points. The practical takeaway: if you're booking a JetBlue flight to Liberia or San José for high season, pay by credit card, consider travel insurance, and keep an eye on alternative routings through United, American or Avianca just in case.
