JetBlue Airways Corp. /zigman2/quotes/207639051/composite JBLU +3.05% reported Thursday a narrower-than-expected fourth-quarter loss and revenue that nearly tripled to beat forecasts, and said it expects return to "sustained profitability" in the spring as the negative effects of the omicron variant fades. The stock was little changed in the premarket. The net loss narrowed to $129 million, or 40 cents a share, from $373 million, or $1.31 a share, in the year-ago period. Excluding nonrecurring items, the adjusted per-share loss was 36 cents, compared with the FactSet loss consensus of 39 cents. Revenue spiked up 177.3% to $1.83 billion, above the FactSet consensus of $1.82 billion. Load factor rose to 76.4% from 52.4%, as traffic growth of 161.6% outpaced capacity growth of 79.4%, but missed the FactSet consensus of 80.7%. "As quickly as the Omicron variant swept through the Northeast, we are seeing cases rapidly decline and we expect sequential month-on-month improvement leading to a profitable Q2 and a very strong summer peak," said Chief Executive Robin Hayes. The stock has slipped 4.1% over the past three months, while the U.S. Global Jets ETF /zigman2/quotes/207744796/composite JETS +0.87% has shed 6.8% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.09% has lost 4.4%.