JetBlue Airways (NASDAQ: JBLU) reported disappointing results on the same day the antitrust trial debating JetBlue's planned acquisition of Spirit Airlines kicked off. The combined headwinds are weighing heavily on the stock, sending shares of JetBlue down as much as 17% on Tuesday.

It has been a difficult earnings season for airlines, with most reporting strong summer holiday traffic but weakening trends heading into the fall. Unfortunately, JetBlue didn't enjoy as robust of a summer season due to air traffic constraints at key airports.

JetBlue lost $0.39 per share in the quarter, worse than the $0.25-per-share loss analysts had expected. The company also warned it expects to lose between $0.35 and $0.055 per share in the fourth quarter and between $0.45 and $0.65 per share for the year, which is below the $0.15-per-share and $0.24-per-share loss estimates.

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Source Fool.com