• JetBlue Airways Corporation (NASDAQ: JBLU) has secured an Indefinite Delivery/Indefinite Quantity, fixed-price Global Heavyweight Service-2 (GHS-2) contract from the U.S. Department of Defense. The total program value of the contract is estimated to be $1.5 billion.

• The performance start date is Feb. 1, 2023, with an expected base period completion date of Sept. 30, 2023.

• The contract has an eight-month base period, nine one-year option periods, and a six-month extension period, if needed.

• Also Read: American Airlines And JetBlue Airways Tap Their Alliance Amid Antitrust Regulatory Opposition

• The contract is for providing heavyweight delivery services for domestic and international shipments.

• Services shall be provided for the U.S. Department of Defense (DoD), other Federal Government agencies.

• JetBlue will be required to provide door-to-door, time-definite, pick-up and delivery, transportation, timely and accurate shipment tracking, government Third Party Payment System (TPPS) participation, customs clearance processing and shipment data reporting.

• Price Action: JBLU shares closed lower by 3.19% at $6.38 on Thursday.

• Photo Via Wikimedia Commons

See more from Benzinga

• Death By Blanket? Target Recalls Children's Weighted Blankets

• Under Armour's New CEO May Go Through Learning Curve Before Delivering, Says Analyst

• Bill Gates Says This Could Lead To Civil War And 'Bring It All To An End'

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.