JetBlue shares tumble 13% after airline lowers 2024 revenue outlook

Key Facts

• Nicholas Economou | Nurphoto | Getty Images JetBlue Airways shares tumbled more than 13% in premarket trading Tuesday after the airline lowered its 2024 revenue forecast, a setback as it tries to return to profitability.
• “As we look to the full year, significant elevated capacity in our Latin [America] region, which represents a large portion of JetBlue’s network, will likely continue to pressure revenue and we expect a setback in our expectations for the full year,” Joanna Geraghty, who became CEO in February, said in an earnings release.
• JetBlue earlier this year said it would defer $2.5 billion in aircraft spending until the end of the year.
• Bright spots included strong demand in the peak travel period, domestic and Europe flights “as well as continued outsized demand for our premium seating options,” said JetBlue’s President, Marty St. George, who returned to the airline earlier this year.

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