JetBlue has filed an addendum to the offering related to their recent debt/stock issuance scheme. Among the less interesting bits is a note that fuel prices continue to rise and that one CC processing company may require an additional $30-35MM in holdbacks. Most interesting to me, however, is the note about LiveTV:
On April 22, 2008, we stated that we were considering a range of strategic alternatives for our LiveTV business, which provides in-flight entertainment systems and data connectivity services for commercial aircraft operated both by us and by third parties. We further stated that it might be a few quarters until we have prioritized our options regarding these alternatives. Morgan Stanley is serving as our financial advisor. We cannot predict the outcome of our consideration, or whether it will result in the occurrence of any transaction.
As I read that, it looks like LiveTV might be spun off as an independent entity. It would be an interesting move, as LiveTV is a capital-intensive business with a lot of costs associated but also a high potential up-side. I wonder how it would fare as an separate company.
More reading
here.