JetBlue Cuts Capacity and Raises Fares Amid Fuel Price Surge
JetBlue reported a 319 million dollar loss as fuel prices surged. The carrier will cut capacity and hike fares to offset costs and maintain its turnaround.
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JETBLUE AIRWAYS CORP reported a $319 million first-quarter net loss as fuel costs rose 15% year-over-year. The loss widened from $208 million a year earlier following supply disruptions in Iran. Investors are assessing if the carrier can survive nearly doubled jet fuel prices since the conflict erupted at the end of February without hedging protections.
