jetblue bases houston fares on price of oil Options

[GOB]

this is actually pretty cool. i bet they'll sell a lot of tickets.

Discount airline company JetBlue Airways is hoping to grab the attention of travelers in oil-crazy Houston with an innovative marketing ploy: flying passengers from New York to Houston for the cost of a barrel of oil.

From Aug. 15 to 21, one-way tickets between New York, where JetBlue is based, and Houston will be based on the previous day's closing price of oil on the New York Mercantile Exchange, rounded down to the nearest dollar. The promotion is called "Blue Barrel Fares," and is valid for travel between Sept. 7 and Nov. 15.

The campaign coincides with the launch of the airline's New York-to-Houston route -- and marks a humorous reflection on both Houston's reputation as an oil town and the high fuel prices that are the bane of air carriers world-wide.

"We really wanted to tie into Houston being the energy capital of the world and the price of oil being a thorn in everybody's side," said Todd Burke, JetBlue's vice president for corporate communications. "We want everybody to smile when they think about the price of oil."

The promotion is a way to "turn the price of oil into a good thing," said JetBlue Chief Executive David Neeleman.

The offer is a way for the airline to stimulate new traffic as it begins three nonstop daily flights between Houston's William P. Hobby airport and New York's John F. Kennedy International Airport on Sept. 7.

"Historically, you don't see your bookings come up until you start servicing the market, so we decided to start something new to create awareness," Mr. Burke said. "Our bookings have skyrocketed as a result."

"Blue Barrel Fares" will also be available from Houston to Boston; Burlington, Vt.; Buffalo, Rochester and Syracuse, N.Y.; Pittsburgh; Portland, Maine; Richmond, Va.; and Washington, D.C., via connecting service at JFK, JetBlue said.

Oil prices have been on a rampage in the past three years, jumping 30% in the year through July alone, buoyed by a combination of strong global demand, supply disruptions around the world and the rush of investors into the energy market seeking higher yields.

Benchmark futures hit a high of $78.40 a barrel on July 14, though they have fallen and swung wildly during the past week. The front-month September light, sweet crude contract on the New York Mercantile Exchange closed at $73.05 a barrel on Tuesday. Waiting an additional day would have reaped further savings: Oil futures settled at $71.89 yesterday. That represents a hefty discount: JetBlue's everyday fare for the route is $117 each way, Mr. Burke said.

source

[Hartmann]

You can go to other cities...

D.C.
Richmond, VA
Boston
and others...