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JetBlue Airways has revised its 2024 revenue forecast downward, anticipating a 4% to 5% decline, exceeding analysts' expectations of a 3.6% drop, due to reduced domestic travel demand linked to election-related uncertainty and Hurricane Milton's impact in Florida. The airline's shares fell 4.5% following the announcement, although it reported a smaller-than-expected third-quarter loss of 16 cents per share, aided by improved demand and pricing. JetBlue is also facing higher operating costs due to ongoing engine inspections and has deferred deliveries of 44 new jets to cut capital expenditures by about $3 billion.
Spirit Airlines' stock surged 25% after announcing plans to sell 23 older Airbus aircraft for $519 million and cut jobs to reduce costs by $80 million. The airline, which has struggled post-pandemic, also delayed refinancing over $1 billion in debt until late December. Despite the recent gains, Spirit's shares have plummeted over 80% this year following a blocked acquisition by JetBlue Airways.
IndiGo plans to reduce its grounded aircraft to the mid-forties by April 2025, down from 60 in September, as it addresses supply-chain challenges and engine defects. The airline expects to operate around 35 grounded planes after resolving issues with Pratt & Whitney engines. Additionally, IndiGo will return damp leased aircraft to lower rising rental costs.
Pratt & Whitney Autoair Inc.
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jetblue forecasts larger revenue decline shares drop amid travel demand concerns
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13:26 29.10.2024
spirit airlines stock surges as company announces job cuts and aircraft sales
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16:40 25.10.2024
IndiGo plans to reduce grounded aircraft and expand to Malaysia
14:10 25.10.2024
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