JetBlue lowers annual revenue forecast as Latin America oversupply bites [Reuters]
JetBlue Airways Corporation (JBLU)
Last jetblue airways corporation earnings: 1/23 07:00 am
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Source: Reuters
, opens new tab trimmed its annual revenue forecast on Tuesday after reporting lukewarm first-quarter revenue due to bloated capacity in Latin America, sending its shares down 10% premarket. Struggling to return to profitability, JetBlue last month outlined plans to cut a number of its routes and markets that were unprofitable, including Bogota in Colombia and Lima in Peru, and reallocate resources to better-performing markets. The carrier said on Tuesday there was healthy demand in peak periods during the quarter and noted its premium seating options performed well, but said oversupply in the Latin American market would eat into its business this year. The Caribbean and Latin American regions represented more than 33% of JetBlue's overall capacity in 2023, according to a regulatory filing. The company now expects fiscal 2024 revenue to decline in the low-single-digit percentage range, compared with its prior forecast for revenue to remain roughly flat. Analysts had expected
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JBLU
Earnings
- 4/23/24 - Beat
JBLU
Sec Filings
- 5/1/24 - Form 4
- 5/1/24 - Form 4
- 5/1/24 - Form 4
- JBLU's page on the SEC website