Why JetBlue Shares Were Grounded This Week
JetBlue Airways (NASDAQ: JBLU) is struggling to hire pilots at a fast enough pace, and as a result, it's slashing its growth forecast for the year. Investors reacted by hitting the eject button, sending JetBlue shares down 12% for the week as of Thursday afternoon.
Airlines came into 2022 hoping that a post-pandemic surge in demand would help the industry to rebound after a miserable couple of years, and few had more ambitious growth plans than JetBlue. Alas, the airline industry has struggled to find the pilots needed to meet those growth objectives. As a result, when releasing first-quarter results, JetBlue slashed its growth forecast for 2022 to between flat and up 5% compared with 2019, down from previous guidance for "low-double-digit" growth.
Image source: JetBlue Airways.
Source Fool.com
