JetBlue shares tumble roughly 20% after disappointing outlook

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JetBlue shares tumble roughly 20% after disappointing

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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 tumbled Tuesday after the carrier’s financial

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disappointed investors.

The New York-based airline forecast its unit costs, excluding fuel, will rise as much as 7% this year from last year. In the first quarter, it said it expected this metric to rise up to 10% this quarter year-over-year.

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.

The carrier expects its 2025 revenue to rise between 3% and 6% on flat capacity.

JetBlue is in the middle of a plan to reduce costs by culling unprofitable routes, deferring aircraft and drumming up revenue with higher-priced seats. CNBC reported on Friday that JetBlue has offered senior pilots voluntary early retirement packages.

JetBlue lost two antitrust cases that blocked two of its growth strategies: In 2024, a federal judge blocked JetBlue’s planned acquisition of Spirit Airlines, which filed for Chapter 11 bankruptcy protection in November, and in 2023, it lost a case over its regional partnership with American Airlines.

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