JetBlue Airways forecast a bigger-than-expected fall in 2024 revenue amid a moderation in domestic travel demand ahead of the upcoming U.S. elections, sending its shares down 4.5% before the bell on Tuesday.
Election-related uncertainty is expected to weigh on travel demand as consumers prefer to be home and hold off on major discretionary spending.
The New York-based carrier expects its 2024 revenue to fall between 4% and 5%, compared with analysts' average expectation of a 3.6% fall, according to data compiled by LSEG.
JetBlue, however, managed to report a smaller-than-expected third-quarter loss on Tuesday, owing to improved demand and pricing in the quarter.
The airline reported an adjusted loss of 16 cents per share, compared with estimates of a 25 cents loss.
Persons:
Milton, LSEG
Organizations:
Jet Blue, Airbus, JFK International, JetBlue Airways, JetBlue, Pratt, Spirit Airlines
Locations:
New York, Florida, The New York, U.S