Why Shares of JetBlue Are Flying Higher Today

Shares of JetBlue Airways (NASDAQ: JBLU) were up more than 5% on Thursday afternoon, propelled higher by a bullish 2021 outlook from a rival and some positive analyst comments. The airlines had a difficult year in 2020, but investors are growing more hopeful they'll see a turnaround in 2021.

JetBlue and other airlines were hit hard by the COVID-19 pandemic, which caused travel demand to evaporate. JetBlue shares are down 25% from their pre-pandemic February highs, and JetBlue has warned it expected to burn through about $8 million in cash per day in the recently completed fourth quarter.

Image source: JetBlue Airways.

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Source Fool.com