JetBlue posts bigger loss on fuel costs, but CEO says margins improving

JetBlue Airways reported a bigger loss in the third quarter compared with last year, but the New York carrier said it is on the right track thanks to strong travel demand despite higher fuel prices as it seeks to calm investors after shares fell to a record low Monday. JetBlue on Monday posted a net loss of $257 million for the three months ended Sept. 30, compared with a loss of $143 million a year earlier. The carrier's fuel bill rose 61% to $868 million. "Resilient demand and strong yields drove revenue well ahead of our initial expectations, allowing us to recapture more of the increase in fuel costs than we initially expected," CEO Joanna Geraghty said in an earnings release.