JetBlue Airways shares tumbled Tuesday after the carrier’s financial outlook disappointed investors.
The New York-based airline forecast an increase in costs, excluding fuel, of as much as 10% this quarter over the first three months of 2024.
It estimated revenue could come in as much as 0.5% lower to up to 3.5% higher this quarter over last year. Larger competitors Delta and United have been forecasting higher revenue growth, a sign of stronger airline pricing power.
JetBlue is in the middle of a plan to reduce costs by culling unprofitable routes and drumming up revenue with higher-priced seats. CNBC reported on Friday that JetBlue has offered senior pilots voluntary early retirement packages.
This is breaking news. Please refresh for updates.