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  "documentTitle": "jetBlue | Mergers and Acquisitions Presentation Deck | 28 slides",
  "authorId": "jetblue",
  "authorName": "JetBlue",
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  "presentationDate": "2022-07-01 00:00:00",
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  "notes": "The chart uses a bridge-like structure to compare historical leverage (2010-2022E) against post-transaction projections and industry benchmarks.",
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      "text": "Expect Leverage Inside Historical Levels and a Return to Deleveraging Trajectory Post-close",
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      "text": "Leverage ratio bridge from 2010 to 2022E Industry Median",
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      "text": "One of the best balance sheets in the industry allows flexibility for all-cash transaction; Post-close, expect to maintain $2B+ of unencumbered collateral; No significant debt maturities before 2026",
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      "text": "Source: Management projections, historical financials, consensus estimates. Note: 2022E industry median excludes JetBlue...",
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      "text": "JetBlue Expected to Maintain Balance Sheet Flexibility Post-Transaction",
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