Bonds backed by JetBlue’s TrueBlue loyalty program fell to a record low of 84 cents on the dollar.
The price drop pushed the yield to maturity on the notes above 14%.
Investors sold off the debt after the airline scheduled an August meeting without a specific agenda.
JetBlue has remained unprofitable for six consecutive years and carries a CCC+ junk credit rating.
The company faces heightened scrutiny over its significant debt load.
While JetBlue claims it routinely meets with investors, the vague invitation amplified fears of a potential debt restructuring.