Airline Stocks Drop as JetBlue Warns of Rising Jet Fuel Costs Amid Iran War
By
Zachary Folk
1mo ago· 2 min readenNews
Summary
Airline stocks fell sharply on Monday after JetBlue warned of rising jet fuel prices due to the Iran war. JetBlue revised its second quarter fuel cost guidance upward to $4.26-$4.36 per gallon in an SEC filing, up from the previous $4.13-$4.28 range. Jet fuel prices rose to about $142 per barrel in May, up from $85, putting pressure on the airline industry. JetBlue's stock dropped as much as 9% before slightly recovering.
Source
bskyAirline Stocks Drop as JetBlue Warns of Rising Jet Fuel Costs Amid Iran Warforbes.comKey quotes
· 3 pulledJetBlue raised its second quarter fuel cost guidance to $4.26-$4.36 per gallon—up from an expected $4.13-$4.28 listed in its previous guidance from April.
Jet fuel prices rose to about $142 per barrel in May, Reuters reported, up from $85
Airline stocks tumbled Monday as the industry continues to feel pressure from increasing jet fuel prices due to the Iran war
JetBlue’s stock price fell on Monday, before slightly recovering.
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