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LONG ISLAND CITY — JetBlue Airways reported that it is continuing to experience volatile booking trends, and expects the demand and revenue recovery will be non-linear into 4Q2020 and beyond. 

Consequently, capacity is expected to fall between 45% and 50% year-on-year in 4Q2020, compared to its previous estimate of approximately 45%. Additionally, revenue is forecast to decline by approximately 70%, while operating expenses are projected to decline by at least 30%.

As a result of recent booking trends and the delay in receipt of approximately USD70 million in cash tax refunds anticipated for 4Q2020, the average daily cash burn is expected to be in the range of USD6 million and USD8 million, compared to the previous expectation of between USD4 million and USD6 million. JetBlue recorded approximately USD2.8 billion in cash and short term investments as of 27-Nov-2020.#
Via (JetBlue Airways)
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