JetBlue posts wider third-quarter loss as fuel costs jump 57%

The carrier ended the quarter with $2.2B in liquidity, including a $600M undrawn credit facility, and said its unencumbered assets had grown to about $7B, including $2.8B in aircraft and engines. It now expects full-year unit revenue to rise 13.5% to 14.5%.

JetBlue shares rose more than 12% in early trading on Tuesday after the update, Reuters reported. Fuel costs have climbed since the war with Iran began, and JetBlue had lost roughly 48% of its share value, making it the worst-performing US carrier, according to Reuters.

Why it matters: Airlines have leaned on higher fares to offset fuel costs, and JetBlue's results show how much of the increase it has been able to pass on.