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Investor Alert

Jan. 27, 2022, 1:30 p.m. EST

JetBlue CEO: Omicron's 'worst is behind us'

JetBlue Airways Corp. is "confident the worst (of the omicron's wave) is behind us," as evidenced by recent case-count trends in New York City "plummeting," Chief Executive Robin Hayes said in a call with analysts following the airline's fourth-quarter results. "We believe demand is poised to reaccelerate through the quarter into a robust spring and peak summer travel season, similar to the setup around this time last year," Hayes said, according to a FactSet transcript of the call. "And we are already seeing demand rebound strongly, with net revenue builds up roughly 30% compared to the first week of January." JetBlue earlier Thursday reported a fourth-quarter loss that was narrower than expected and revenue above forecasts. The stock was the sole major U.S. airline stock to trade higher on Thursday amid broader market weakness. JetBlue shares have lost 6% in the past 12 months, contrasting with gains of around 15% for the S&P 500 index. (S&P:SPX) and underperforming in relation to the U.S. Global JETS ETF (PSE:JETS) , which lost about 5% in the same period.

Link to MarketWatch's Slice.