Business
business
Max Knoblauch

JetBlue boosts its third-quarter revenue forecast after strong late summer travel demand

Empty August offices gave JetBlue a boost, and the carrier on Thursday announced improved guidance for its current quarter.

The carrier now expects operating revenue per available seat mile to decline between 1.5% and 4% in the third quarter, an improvement from its previous forecast that it would drop between 2% and 6%. JetBlue also lifted the floor on its capacity guidance, from a 1% drop to flat.

“Momentum from earlier in the summer carried forward into August and through the Labor Day holiday, both of which were marked by strength for bookings,” the company said.

JetBlue posted an earnings beat in its second quarter, though it reported its fourth straight quarterly net loss. The carrier has made a profit in just four out of its last 14 quarters.

The company on Thursday also announced a new deal with Amazon to adopt its Project Kuiper satellite broadband network to power in-flight Wi-Fi on some planes beginning in 2027.

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Lucid climbs after Uber revealed to be its second-largest shareholder following recent investment

Shares of luxury EV maker Lucid are up more than 7% in premarket trading on Tuesday, following the release of a regulatory filing that revealed Uber is now its second-largest shareholder, trailing only Saudi Arabia’s PIF sovereign wealth fund.

The news follows an announcement earlier this month that Uber and Lucid would expand their robotaxi partnership from 20,000 planned vehicles to 35,000. Along with the expansion, Uber also said it would invest an additional $200 million into the EV maker.

Per Monday afternoon’s filing, it seems that investment pushed Uber’s ownership stake in Lucid to 11.52%.

Lucid’s stock is down 29% in April. It hit an all-time low of $6.75 on Monday ahead of the regulatory filing becoming public.

In a mark of just how painful the slide has been for Lucid shareholders, as of Monday, the company’s market cap had dropped to a quarter of the approximately $9.5 billion that Saudi Arabia’s PIF has sunk into it.

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Justice Department accuses telehealth Zealthy of fraud, says remedy may bankrupt it

The feds say they don’t think Zealthy has the liquidity to pay what it owes customers.

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Americans aren’t drinking as much Mexican beer — that’s not been good for Constellation

The nation’s largest beer importer by sales just saw a 10-year growth streak come to an abrupt end.

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