JetBlue's stock drops sharply, with other airline stocks in tow
Shares of JetBlue Airways Corp.'s slumped 4% toward a 13-month low in afternoon trade Thursday, with other airline stocks in tow, after the New York-based carrier said it took in a lot less money per passenger in April than it did last year. JetBlue reported late Wednesday that April load factor fell to 84.1% from 85.7% a year ago, as capacity increased at a faster rate than traffic. Revenue per available seat mile dropped 12.5%. JetBlue's stock, on track to close at the lowest level since March 13, 2015, was the biggest decliner within the Dow Jones Transportation Average , which slumped 1%. The NYSE Arca Airline Index shed 2.3%. Among other Dow transports components, shares of United Continental Holdings Inc. slid 3.6%, of American Airlines Group Inc. dropped 3.3%, of Delta Air Lines Inc. fell 2.6% and of Southwest Airlines Co. declined 1.4%.
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