JetBlue's Forecasted Sales Decline and Higher Costs Lead to Stock Drop
JetBlue Airways reported a net loss of $104 million in the fourth quarter of 2023 and forecast lower capacity for 2024, expecting revenue to drop between 5% and 9% in the first three months of the year. The airline's adjusted margins could approach breakeven, and it anticipates capacity to be down in the low single digits for 2024. JetBlue has been dealing with higher costs, operational challenges, and changing travel patterns, and its plan to acquire Spirit Airlines for $3.8 billion was barred by a federal judge earlier this month.