From CNBC: 2024-04-23 16:07:59

JetBlue Airways shares fell 18% after lowering its 2024 revenue forecast, with second-quarter revenue expected to drop 10.5%. The airline abandoned the Spirit Airlines merger after a judge blocked it. Unlike JetBlue, larger carriers like Delta and United are forecasting strong profits and increased demand this summer. Pratt & Whitney engine issues are hindering JetBlue’s growth. In the first quarter, the airline lost $716 million due to several factors, including break-up charges related to the failed merger. JetBlue is exploring more cost cuts and deferring aircraft spending until year-end.



Read more at CNBC: JetBlue shares tumble after airline lowers 2024 revenue outlook