JetBlue Airways forecasts higher Q4 cash burn

JetBlue said Monday it expects cash burn to rise to about $8m per day in Q4, citing recent booking trends and a delay in cash tax refunds. A renewed surge in COVID-19 infections and travel curbs has further dimmed the financial outlook for the sector, which the IATA has predicted is set to lose $87b this year. US airlines received $25b in federal aid to keep employees on payroll between March and September and have now asked for a second round of support. “Booking trends remain volatile and the company continues to believe demand and revenue recovery will be non-linear through the fourth quarter and beyond,” New York-based budget carrier JetBlue said. It expects its Q4 average daily cash burn to be between $6 and $8m, compared with its prior forecast of between $4 and $6m. <br/>