Yahoo Finance JetBlue Slaps Infringement Charge on Walmart Over Jetblack
Per Reuters, JetBlue Airways Corporation JBLU has filed a lawsuit against retail giant Walmart Inc WMT. The carrier opposes the Bentonville, AR-based company’s usage of the name Jetblack for its “personal shopping and concierge service”.
The complaint filed last Friday accused Walmart of a "transparent attempt" to take advantage of the carrier's goodwill. With the Jetblack service expanding across the United States, JetBlue feels there could be "significant consumer confusion".
Walmart reportedly launched Jetblack last May in order to compete with Amazon.com AMZN for its Amazon Prime service.
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The Long Island City, New York-based airline has also levelled infringement allegation against Walmart for using "Jet+color" names, such as Jetgold and Jetsilver. Further, the carrier claims that Walmart has been offering travel services and the like, to grow closer to JetBlue's core business line.
JetBlue reportedly owns 43 federal trademark registrations for JetBlue marks since 1999. The case lodged against Walmart seeks unspecified compensatory and punitive damages.
Walmart reacted in a positive tone stating that it will take the issue seriously and on receipt of the complaint respond accordingly.
As JetBlue gains traction from strong demand for air travel, it tries to enter and subsequently expand in the trans-Atlantic market. To this end, the carrier has decided to convert 13 of its existing orders for the smaller Airbus A321neo to Airbus’ new aircraft. The new planes are not only fuel-efficient but also come with an incredible 4700 nautical mile range. (Read more: JetBlue Eyes New Long-Range Airbus Jets at Paris Air Show)
Zacks Rank & Key Pick
JetBlue carries a Zacks Rank #3 (Hold). A better-ranked stock in the same space is Air China Ltd. AIRYY, sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Air China have rallied more than 19% so far this year.
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JetBlue Airways Corporation (JBLU) : Free Stock Analysis Report
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