JetBlue shares jump 19% after forecast offsets wider Q3 loss
What's new: The airline kept $2.2 billion in liquidity and said it can bridge to positive free cash flow and $1 EPS by 2028.
JetBlue Airways posted a wider third-quarter loss but its shares climbed nearly 19% after the carrier projected stronger fourth-quarter revenue and pointed to a path back to profitability. The airline reported a net loss of $257 million for the three months ended Sept. 30, versus a $143 million loss a year earlier, as its fuel bill rose 61% to $868 million. JetBlue said revenue per available seat mile could rise as much as 22% in the fourth quarter, with full-year growth of 13.5% to 14.5%. The company ended the quarter with $2.2 billion in liquidity, $7 billion in unencumbered assets and $8.4 billion in total debt. Investor nerves had been rattled after a Wall Street Journal report that senior creditors were working with PJT Partners.