Why JetBlue Stock Is Flying High Today
JetBlue Airways (NASDAQ: JBLU) narrowed its loss forecast thanks to strong holiday travel demand trends. Investors are breathing a sigh of relief, sending the beaten-down shares up 10% as of 10 a.m. ET Thursday.
JetBlue shares have lost about half of their value in the second half of 2023 due to investor fears that higher rates and a slowing economy will eat into travel demand. Airlines including JetBlue have enjoyed strong post-pandemic demand in recent years, but the focus of late has been on whether this historically cyclical industry is beginning to take a turn for the worse.
JetBlue in a regulatory filing said travel demand is holding up well. "Since late October, close-in bookings have outperformed expectations for both holiday peak and non-holiday travel periods," the company wrote. The weather has also cooperated, helping the airline post a 99.9% flight completion rate in November and 100% over the Thanksgiving peak period.
Source Fool.com
Jetblue Airways Corp. Stock
Currently there is a rather negative sentiment for Jetblue Airways Corp. with 1 Buy predictions and 4 Sell predictions..
A slightly negative potential of -7.13% at a current price of 5.38 € for Jetblue Airways Corp. is the result of a target price of 5 €.
