A JetBlue Airways plane prepares to take off from the Fort Lauderdale-Hollywood International Airport on January 31, 2024 in Fort Lauderdale, Florida.
Joe Raedle | Getty Images
JetBlue Airways shares fell more than 25% on Tuesday, the biggest one-day percentage loss since the company went public more than two decades ago, after the carrier’s financial outlook disappointed investors.
The New York-based airline forecast its unit costs, excluding fuel, will rise as much as 7% this year from 2024. In the first quarter, it said it expected this metric to rise as much as 10% this quarter year-over-year.
It estimated revenue could come in up to 0.5% lower to as much as 3.5% higher this quarter over 2024. Larger competitors Delta and United have been forecasting higher revenue growth, a sign of those airlines’ strengthening pricing power.
JetBlue is in the middle of a plan to reduce costs by culling unprofitable routes, deferring new aircraft…
