JetBlue Shares Eclipse 12-Year Low After Forecasting Fourth Quarter Losses:
Chief financial officer Ursula Hurley said the airline suffered from the “sheer ...
forbes.com/sites/tylerroush/2023/10/31/jetblue-shares-eclipse-12-year-low-after-forecasting-fourth-quarter-losses/
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JetBlue Shares Fall to Lowest Level Since 2011The stock briefly reached $3.42 on October 31, while the airline reported a $135 million third-quarter net loss.
Key FactsOct 31, 2023 · Reading time: ~45 sec.
Summary created with AI assistance · Source: forbes.com
Summary created with AI assistance · Source: forbes.com
- Shares fell 13.21% to $3.65 on Tuesday and briefly dropped below the previous low of $3.86 set in July 2011.
- JetBlue reported third-quarter revenue of $2.35 billion, down 8% from a year earlier, and a $135 million net loss after a $57 million profit.
- The airline expects an adjusted fourth-quarter loss of more than 55 cents per share, compared with analysts’ previous forecast of a 15-cent loss.
- Chief Financial Officer Ursula Hurley cited air traffic control and weather delays, while the company said six aircraft are grounded because of a manufacturing defect and more could be affected.
The merger would increase fares and 'reduce choice on routes' across the U.S., harming 'cost-conscious' travelers.— The Justice Department, in its lawsuit opposing JetBlue's Spirit merger
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forbes.com/sites/tylerroush/2023/10/31/jetblue-shares-eclipse-12-year-low-after-forecasting-fourth-quarter-losses/
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