JetBlue shares dropped 3% as the carrier raised its revenue outlook to 17-20% growth while warning of higher operating costs and fuel prices due to persistent air traffic control and weather-related disruptions.
JetBlue shares fell 3% after the airline raised its revenue outlook but also increased cost forecasts, citing weather and air traffic control disruptions.
JetBlue Airways shares fell 3% after the airline lifted its third-quarter revenue outlook but simultaneously hiked cost forecasts. Operational disruptions in the Northeast, driven by severe weather and air traffic control constraints, forced the carrier to increase its fuel and non-fuel expense projections.
Investors reacted negatively to the significant increase in operating and fuel cost forecasts, which overshadowed the improved revenue guidance.
The airline cited a 40% increase in severe weather days and a doubling of cancellations related to air traffic control constraints, particularly in the Northeast.