Why JetBlue Airways (JBLU) Shares Are Flying Higher Today - JetBlue Airways (NASDAQ:JBLU)

JetBlue Airways Corporation (NASDAQ:JBLU) shares are trading higher after the company said that demand for travel remains healthy, with close-in bookings outperforming expectations for both holiday peak and non-holiday travel periods since late October.

In a filing, the company said it experienced strong operational performance during the month of November and achieved a 99.9% completion factor for the month and a 100% completion factor for the Thanksgiving peak period.

Based on the upbeat sentiments, the company raised its Q4 outlook.

For Q4, the company expects available seat miles (ASMs) year-over-year to rise 2.0% - 3.0%, higher than the previous projection of 0.5% - 3.5%.

Revenue for Q4 is likely to decrease in the range of (7.0%) - (4.0%) year-over-year. The prior outlook was for (10.5%) - (6.5%) year-over-year change.

Adjusted loss per share in Q4 is likely to be in the range of $(0.35)-$(0.25), compared with the prior outlook of $(0.55)-$($0.35). The street view is pegged at $(0.39).

For FY23, the company sees revenues to grow by 4%-5% versus the prior outlook of 3%-5%.

Adjusted loss per share in FY23 is expected to be in the range of $(0.50)-$(0.40), compared with the prior outlook of $(0.65)-$(0.45).The street view is pegged at $(0.65).

Price Action: JBLU shares are trading higher by 8.35% to $5.13 premarket on the last check Thursday.

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JBLUJetBlue Airways Corp

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Why JetBlue Airways Shares Are Flying Higher Today