JetBlue’s unit revenue guide implied deceleration year over year despite all the changes it has been making,” offered Melius Research analyst Conor Cunningham.

The airline is in the middle of a plan to reduce costs by culling unprofitable routes and drumming up revenue with higher-priced seats.

Unit costs in 2025 will rise as much as 7% excluding fuel, the airline said Tuesday in a statement, outpacing analysts’ estimates on higher spending for compensation and aircraft maintenance. JetBlue shares fell as much as 18% as markets opened in New York, their biggest slump since Aug. 12.

JetBlue Airways forecast higher costs and unit revenue below analysts' expectations for the first quarter on Tuesday, sending the New York-based carrier's shares down 14% in morning trade.

JetBlue Airways Corp.’s stock dropped in early trading on Tuesday, to pull back from an 18-month high, as investors focused on the air carrier’s weaker-than-expected guidance for a key revenue metric rather than upbeat fourth-quarter results.

JetBlue Airways Corp. reported fourth-quarter earnings that were better than Wall Street expected as demand climbed after the November election and during the winter holidays and fuel prices fell.