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

JetBlue is executing a cost-cut strategy of cutting unprofitable routes, deferring aircraft deliveries and pricing premium seats. It was also reported by CNBC that the airline has already offered senior pilots voluntary early retirement packages as part of the restructuring.

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

By Shivansh Tiwary and Rajesh Kumar Singh (Reuters) -JetBlue Airways shares plunged 28% on Tuesday after the New York-based carrier forecast lower-than-expected unit revenue and higher costs in the current quarter.