JETBLUE LOWERS Q4 OUTLOOK

Dino D'Amore
By Dino D'Amore December 9, 2010 11:19

JETBLUE LOWERS Q4 OUTLOOK

JetBlue Airways has warned weak ticket sales for the holiday season will impact revenue and has lowered its outlook for the fourth quarter. JetBlue said it would not make as much money in the fourth quarter as it thought because it had counted on last-minute passengers paying top dollar for Thanksgiving holiday travel. They booked early or elsewhere instead. Shares in the airline dropped 5% on the news.

The news has been surprising to airline investors as they had been celebrating the return to growth for the industry. However the news that the price for crude oil has risen to $90 a barrel and JetBlue’s profit warning on the back of poor holiday season ticket sales has dimmed this optimism. That said, Delta has posted a good Thanksgiving period and was confident in sales over the Christmas period.

Dino D'Amore
By Dino D'Amore December 9, 2010 11:19
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