The stock price of JetBlue dropped by 30 per cent this morning, plunging from $19.90 to $18.90, according to the Bloomberg Terminal Market.
JetBlue said the plunge was caused by an increase in fuel costs and reduced sales of its Air Canada business.
“We expect the impact of the new fuel price to be less than anticipated and we will continue to review the fuel pricing and impact on our business,” JetBlue wrote in a statement.
The airline, which had a record $5.5 billion in revenue in 2015, said it expects the fuel price increase to be offset by an impact on ticket sales.
The stock dropped 20 per cent from Monday’s close of $23.60.
The company said it was considering further measures to reduce the impact on customers.
The shares closed at $19 in New York.
