JetBlue Forecasts Sales Decline as Carrier Faces Heavy Costs

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JetBlue Forecasts Sales Decline as Carrier Faces Heavy Costs

Bloomberg01-30

JetBlue Airways Corp. predicted a worse-than-expected sales decline this quarter as it contends with uneven demand and elevated costs, a setback for the carrier as the fate of its troubled $3.8 ...

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Analysts expected a 5% slide on average in estimates compiled by Bloomberg News.The outlook offers more evidence that domestic-focused carriers continue to struggle with sluggish supply chains, uncertain travel demand, costly labor agreements and prolonged maintenance delays. Southwest Airlines Co. and Alaska Air Group Inc. have already slowed 2024 growth plans in response.The report largely sidestepped mention of the Spirit deal, which remains in limbo after a federal judge this month blocked the tie-up over antitrust concerns. The carriers had pledged to appeal the ruling before JetBlue last week warned that the merger agreement could be terminated, sparking speculation that JetBlue may be ready to walk away.JetBlue’s fourth-quarter loss was 19 cents a share, compared with analysts’ average estimate of a 27-cent loss. 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