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JetBlue’s stock jumps toward 13-month high as revenue outlook improves

Economy, Finance

Shares of JetBlue Airways Corp. jumped 3.5% toward a 13-month high in premarket trading Monday, after the air carrier provided an upbeat first-quarter revenue outlook. The company said while booking trends remain “choppy,” it has seen an improving in bookings by leisure and customers visiting friends and relative, and it now expects revenue to be down 61% to 64% from the same period in 2019, compared with its previous forecast of down 65% to 70%. Capacity is expected to be down 41% from the first quarter of 2019, compared with a previous estimate of down 40%. Separately, operating expenses are still expected to be down 25% despite modestly higher fuel prices. The stock has hiked up 37.9% over the past three months through Friday, while the U.S. Global Jets ETF has rallied 20.1% and the S&P 500 has gained 6.7%.

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