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

JetBlue’s fourth-quarter results beat expectations, but the outlook for a key revenue metric was below forecasts.

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 26% in morning trade. The carrier forecast first-quarter revenue per available seat mile (RASM),

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

The company also expects the average fuel price per gallon to increase to a range of between $2.65 and $2.80 in the first quarter from $2.47 in the fourth quarter. The stock fell