JBLU Raises Capacity and Revenue Targets

Jblu stock slumped to 7.92 (-0.16) (-1.98%) in Pre-Market Friday trading 09:04AM EDT

As we approach the end of the year, JetBlue Airways (NASDAQ:JBLU) is increasingly confident in its dependability as a carrier, according to an SEC filing made public on Friday.

The New York-based carrier revised its third quarter available seat mile prediction from a flat to down 3% prior to forecast to be between 0.5% and -0.5% as compared to 2019. In the meantime, income per available seat mile increased from 2019 to 22% to 24%. Prior to this, the airline had predicted between 19% and 23%.

In a statement, JetBlue noted that the high demand environment continues to stretch beyond the summer season, with substantial demand for travel in September and beyond. Record co-brand spend helping ancillary income continue to perform nicely, the company said.

The cost per available seat mile remained constant at 15-17%, and the projected fuel price per gallon for the quarter increased to $3.86 from the previous projection of $3.68.

Bookings For International Airlines Are Still Returning To Levels From 2019.

Jblu revenue outlook

According to JetBlue Airways Corp. JBLU, +1.25%, high demand is continuing past the summer peak and is solid for travel in September and beyond. In comparison to pre-pandemic 2019, the airline increased its third-quarter projection for growth in revenue per available seat mile (RASM) to $22% to 24%, from 19% to 23%. Additionally, the business changed its forecast for third-quarter ASM, or capacity, from down 3% to flat to down 0.5% to up 0.5%. JetBlue increased its projected cost per gallon of gasoline from $3.68 to $3.86, but kept its projected cost per ASM, excluding fuel, predicted for 2019 at 15% to 17%. Premarket trading saw a 1.6% decline in JetBlues stock, a 1.1% decline in the U.S. Global Jets ETF JETS, +0.06%, and a 0.8% decline in the S&P 500 SPX, -1.13% futures contract ES00, -1.32%. More real-time information on MarketWatch.

JBLU stock previous day trades

On Thursday, the NASDAQ Composite Index COMP, -1.43%, dropped 1.43% to 11,552.36, and the Dow Jones Industrial Average DJIA, -0.56%, dropped 0.56% to 30,961.82. Shares of JetBlue Airways Corp. (JBLU), +1.25%, rose 1.25% to $8.08 during what turned out to be a generally bad trading session for the stock market. JetBlue Airways Corp. fell $8.57 short of its October 4th 52-week high ($16.65), which it had previously hit.

Thursdays stock performance was poor when compared to some of its rivals, including Southwest Airlines Co. LUV, -2.97%, which dropped 2.97% to $36.90, United Airlines Holdings Inc. UAL, +1.22%, which increased 1.22% to $38.90; and Delta Air Lines Inc. DAL, +1.90%, which increased 1.90% to $33.28. 10.7 million in trading volume, which is still 18,842 below the 50-day average of 10.7 million.

Read more about the development of the possible acquisition of Spirit Airlines.

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Author: Jowi Kwasu
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