JetBlue's Stock Drops To Lowest Point In More Than 10 Years, Other Airlines Could Be Next
Portfolio Pulse from Aaron Bry
JetBlue Airways Corporation's stock fell to a 10-year low following a disappointing earnings report and pending litigation over its acquisition of Spirit Airlines. The U.S. Department of Justice is suing to prevent the merger, which would make JetBlue the fifth largest airline in the U.S. Other airlines, including Southwest Airlines and Delta Air Lines, also saw their stocks fall.
October 31, 2023 | 9:58 pm
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NEGATIVE IMPACT
Delta Air Lines' stock fell from nearly $50 over the summer to around $31 a share.
The overall negative sentiment in the airline industry has led to a drop in Delta Air Lines' stock price.
CONFIDENCE 100
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
JetBlue's stock fell to a 10-year low due to disappointing earnings and legal issues over its acquisition of Spirit Airlines.
The disappointing earnings report and the legal issues surrounding the acquisition of Spirit Airlines have negatively impacted JetBlue's stock price.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Southwest Airlines' stock hit new 52-week lows, trading around $22.30 a share late in the session.
The overall negative sentiment in the airline industry has led to a drop in Southwest Airlines' stock price.
CONFIDENCE 100
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
Spirit Airlines' stock fell as JetBlue, which is planning to acquire Spirit, faced legal issues and a drop in stock price.
The legal issues surrounding JetBlue's planned acquisition of Spirit Airlines and the drop in JetBlue's stock price have negatively impacted Spirit's stock price.
CONFIDENCE 100
IMPORTANCE 80
RELEVANCE 80