Reported 29 days ago
JetBlue Airways has projected a steeper-than-anticipated decline in its 2024 revenue due to dampened domestic travel demand linked to the upcoming U.S. elections, resulting in a 14% drop in its share price. The airline forecasts a revenue decline between 4% and 5%, which exceeds analysts' expectations of a 3.6% decrease. Additionally, the impact of Hurricane Milton, rising operating costs, and delays in aircraft deliveries have compounded challenges, despite reporting a smaller-than-expected loss in the third quarter.
Source: YAHOO