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AP National Business

JetBlue posts Q2 loss as fuel costs offset rising revenue

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Published 10:03 AM

NEW YORK (AP) — JetBlue Airways is still losing money despite a big increase in travel this summer. The New York airline said Tuesday that it lost $188 million in the second quarter, as higher prices caused its spending on fuel to nearly triple. The loss was wider than Wall Street was expecting. JetBlue is giving the financial update just days after reaching an agreement to buy Spirit Airlines for about $3.8 billion. CEO Robin Hayes says buying Spirit will cause JetBlue’s earnings per share to improve in the first year after it closes. But that could take time. Antitrust regulators are just starting to dig into the JetBlue-Spirit agreement.

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