JetBlue Airways (JBLU, Financials), the low-cost carrier that flies domestic and international routes, is revamping its price structure in preparation for a new domestic first-class product.
Seats will be divided into three categories: Main economy, more extra-legroom seating, and BlueFirst domestic first class. Within those categories, customers will then select from Base, Standard and Flex fare options.
Base tickets will include one carry-on bag but not prior seat selection. Changes and cancellations will incur a cost, and refunds will be provided as travel credits. Customers will get one TrueBlue loyalty point for every dollar spent.
Standard rates will include seat selection, no change or cancellation fee, and three reward points per $1 spent. Flex fares will process refunds to the original payment method.
JetBlue is also scrapping its existing Core label, putting budget fares in the Main bucket. Its lie-flat Mint business class will remain with only Standard and Flex choices.
The revisions mirror an industrywide trend to provide more pricing categories as visitors are more prepared to pay for extra space and perks.
Investors will now look to JetBlue's forthcoming earnings report and timing of the launch for BlueFirst.