Why JetBlue Stock Is Falling Today
Portfolio Pulse from Ryan Gustafson
JetBlue Airways Corporation (NASDAQ:JBLU) shares are trading lower due to continued pressure on airlines after Spirit, Frontier, and American Airlines lowered their financial outlook amid rising fuel costs. American Airlines expects fuel costs to range between $2.90 and $3.00 per gallon, up from the prior estimate of $2.55 to $2.65. Spirit Airlines also updated its third-quarter guidance, expecting fuel costs to be $3.60, up from the previous estimate of $2.80.
September 18, 2023 | 7:55 pm
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JetBlue's stock is falling due to the increased pressure on airlines from rising fuel costs, as evidenced by the lowered financial outlooks of American and Spirit Airlines.
JetBlue's stock is directly impacted by the overall financial pressure on airlines due to rising fuel costs. As other airlines like American and Spirit have lowered their financial outlooks due to these increased costs, it's likely that JetBlue is experiencing similar pressures, leading to a decrease in its stock price.
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