JetBlue’s fourth-quarter results beat expectations, but the outlook for a key revenue metric was below forecasts.
The president’s push against diversity programs has led many big employers to announce rollbacks, but others are defending the initiatives as good for business.
JetBlue Airways lost less money than Wall Street was expecting in the fourth quarter, but that wasn’t enough to stop the company’s shares from racking up double-digit losses on Tuesday. The low-cost carrier reported an adjusted loss of 21 cents a share on revenue of $2.
JetBlue is executing a cost-cut strategy of cutting unprofitable routes, deferring aircraft deliveries and pricing premium seats. It was also reported by CNBC that the airline has already offered senior pilots voluntary early retirement packages as part of the restructuring.
JetBlue’s earnings results for the last quarter were better than analysts’ expectations to lose $0.29 per share. The company did miss its revenue target as year-over-year sales dropped by -2.1%. This marks five out of six quarters of declining revenue as JetBlue focuses on a balance sheet turnaround.
Unit costs in 2025 will rise as much as 7% excluding fuel, the airline said Tuesday in a statement, outpacing analysts’ estimates on higher spending for compensation and aircraft maintenance. JetBlue shares fell as much as 18% as markets opened in New York, their biggest slump since Aug. 12.
JetBlue’s unit revenue guide implied deceleration year over year despite all the changes it has been making,” offered Melius Research analyst Conor Cunningham.
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Venmo payment options are the latest announcement in a broader effort from JetBlue to enhance its services and boost profits. The struggling low-cost carrier has searched for new revenue streams as larger airlines introduce their own budget options, increasing competition for those flyers.
The New York-based carrier announced what it's calling the EvenMore experience, a refreshed type of extra-legroom seat located at the front of its economy cabins.
Frontier Airlines is again pursuing a merger with Spirit Airlines, with Spirit mired in chapter 11 bankruptcy proceedings.
JetBlue Airways Corporation (NASDAQ:JBLU) reported an adjusted loss per share of 21 cents, beating the consensus loss of 31 cents, compared to a 19-cent loss reported a year ago. The air carrier reported operating revenue of $2.