BUZZ-JetBlue raises fuel cost forecast; shares fall

Jetblue Airways

Jetblue Airways

JBLU

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** Shares of U.S. carrier JetBlue JBLU.O down nearly 2% at $5.36 in choppy premarket trading

** Co lifts Q2 fuel costs forecast amid disruptions triggered by the Strait of Hormuz closure that are driving up jet fuel prices across the global aviation industry

** It now expects fuel to cost between $4.26 and $4.36 per gallon, compared with its earlier forecast of $4.13 to $4.28

** The airline raises forecast for revenue growth per available seat mile to between 9% and 12%, versus the 7% to 11% range forecast earlier

** JetBlue reports "outperformance" on routes formerly run by Spirit Airlines following the budget carrier's shutdown last month

** As of last close, stock had risen 20.2% YTD