JetBlue Airways (NASDAQ: JBLU) reported a first-quarter loss that was less than what Wall Street had expected, but the airline warned pilot shortages will crimp growth plans for the year. Investors reacted by heading for the emergency exits, sending shares down as much as 9% on Tuesday morning.
JetBlue lost $0.80 per share in the quarter, better than the $0.87-per-share loss analysts had expected, on revenue that met consensus at $1.74 billion. The airline, like most of its peers, reported a weak start to the quarter but improvements in March, and it forecast record June-quarter revenue as tourists return to the skies this summer.
Image source: JetBlue Airways.
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Why Shares of JetBlue Are Down Today