JetBlue Airways Corporation JBLU shares are trading lower Monday amid continued pressure on airlines after Spirit, Frontier and American last week lowered their financial outlook amid rising fuel costs.
What To Know:
While American Airlines said it expects total revenue to stay largely unchanged for the third-quarter, the company sees fuel costs ranging between $2.90 and $3.00 per gallon, compared to the prior estimate between $2.55 to $2.65.
Spirit Airlines updated its third-quarter guidance, with total revenue now expected to be between $1.245 billion and $1.255 billion, from between $1.300 billion and $1.320 billion, versus a consensus of $1.32 billion. The company expects fuel costs to be $3.60, compared to the previous estimate of $2.80.
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JBLU Price Action: Shares of JBLU were down 5.43% at $4.70 at the time of publication, according to Benzinga Pro.
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