JetBlue shares tumble roughly 20% after disappointing outlook

Financial Outlook - JetBlue Airways shares declined after the company provided a disappointing financial outlook, forecasting a cost increase of up to 10% this quarter compared to the first three months of 2024, excluding fuel costs [1] - The airline estimated that revenue could be as much as 0.5% lower to up to 3.5% higher this quarter compared to the same period last year [2] Competitive Landscape - Larger competitors, such as Delta and United, are projecting higher revenue growth, indicating stronger pricing power within the airline industry [2] Cost Management Strategies - JetBlue is implementing a plan to reduce costs by eliminating unprofitable routes and increasing revenue through higher-priced seats [2] - The company has also offered voluntary early retirement packages to senior pilots as part of its cost management efforts [2]