We estimate JetBlue Airways’ Valuation to be $8 per share, about 18% above the current market price, representing a 0.3x P/S multiple based on TTM revenues. However, last month, the Justice Department filed a lawsuit seeking to block the proposed merger of JetBlue and Spirit, stating that it will lead to increased fares. With inflation rising and the Fed raising interest rates, among other factors, JBLU stock has fallen 48% in the last twelve months.