While W.D. Crotty certainly emphasized the risks involved with JetBlue (NASDAQ:JBLU), it seems odd to me that he never really talked about its business. Sure, the bankruptcies of Northwest (NASDAQ:NWAC) and Delta (NYSE:DAL) may end up allowing these carriers to become more competitive, but it also illustrates the point that the legacy carriers are just not able to compete with the low-cost airlines.

Keep this in mind when JetBlue goes up against Continental (NYSE:CAL) in Newark in October. With 16 daily flights out of Newark expected by the end of November, JetBlue is likely to open up a new chapter in its amazing growth story. (Thus far, it's not certain whether or not the airline will be serving a 'continental breakfast' on these flights.)

The Newark launch, the largest in JetBlue's history, will only add to August's traffic figures, which were up 29.8%. For the year, revenue per passenger mile -- a key metric for the airline industry -- is up 30.8%. Once again, I didn't get a sense of this remarkable growth from W.D.'s analysis. Nor did he mention that JetBlue has an extremely strong brand, and that it's racked up numerous awards such as 'Best Airline Quality' from the Wall Street Journal and 'Best U.S. Airline Customer Satisfaction' from JD Power and Associates Reports.

Focusing on JetBlue's business is more than just cheerleading. The airline industry is going through a bitter struggle right now, and not every carrier will remain standing. In my view, JetBlue will be one of the survivors after all is said and done. As one of our Foolish analysts once said, "There is clearly room for this amazing story, like fine wine, to improve with age."

The author of that insightful comment? None other than W.D. Crotty.

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JetBlue is a Motley Fool Stock Advisor pick.

John Reeves does not own any of the companies mentioned in this article.