NEW YORK—JetBlue Airways lost $188 million in the second quarter, as fuel costs nearly tripled and wiped out a large increase in revenue during the early part of the peak vacation-travel season.
The loss reported Tuesday was wider than Wall Street expected. JetBlue was unable to keep pace with bigger rivals, who posted profits for the quarter on full planes and higher fares.
Shares of JetBlue fell 6 percent in late-morning trading Tuesday.
JetBlue gave the financial update just days after reaching an agreement to buy Spirit Airlines for about $3.8 billion. CEO Robin Hayes said the deal, which JetBlue expects to close by early 2024, will increase his airline’s earnings per share in the first year after closing….