Oversupply articles
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JetBlue lowers annual revenue forecast as Latin America oversupply bites
Struggling to return to profitability, JetBlue last month outlined plans to cut some of its routes and markets that were unprofitable, including Bogota in Colombia and Lima in Peru, and reallocate resources to better-performing regions. The Caribbean and Latin American regions represented more than 33% of JetBlue's overall capacity in 2023, a regulatory filing showed. JetBlue now expects fiscal 2024 revenue to decline in the low-single-digit percentage range, compared with its prior forecast...
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China's state planner warns intensified EV price war on oversupply
China's state planner expects an intensified price war among automakers of electric cars and plug-in hybrids this year because of overhanging supply, among other issues, the government body said in a statement on Monday. The National Development and Reform Commission (NDRC) expected more than 110 new energy vehicle models among a total of 150 new cars launched this year, intensifying competition. NDRC also estimated the market demand for new energy vehicles, including EVs and plug-in hybrids, to...