Zinger Key Points
- JetBlue raised its Q3 revenue outlook to between -2.5% and +1.0%, improving from the prior forecast of -5.5% to -1.5%.
- On-time performance improved by ten points year-over-year during the summer, driving better operational results.
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Shares of JetBlue Airways Corporation JBLU are trading higher following the company's revised third-quarter revenue expectations. Here’s a detailed breakdown:
Why Is the Stock Moving?
JetBlue raised its third-quarter 2024 revenue outlook, driven by improved operational performance and stronger bookings. The company now expects third-quarter revenue to fall between -2.5% to +1.0% year-over-year, which is an improvement from the previous forecast of -5.5% to -1.5%. Key contributors to this upgrade include:
- Improved on-time performance during the summer travel season, which saw a ten-point increase year-over-year.
- Increased bookings, particularly in the Latin American region.
- Additional revenue from re-accommodating passengers affected by other airlines’ cancellations due to technology outages in July.
Operational Updates
- JetBlue expects grounded aircraft to be in the mid-to-high teens in 2025 due to Pratt & Whitney engine issues.
- Capacity growth is expected to be flat year-over-year in 2025, with the focus on: A220 deliveries, which offer 90% more premium seats and 30% lower unit costs compared to the outgoing E190 aircraft and simplifying the fleet to only two types, the A220 and A320 family by 2025, improving efficiency.
JBLU Price Action: JetBlue Airways shares were up by 8.35% at $5.44 according to benzinga Pro.
See Also:
JetBlue Photo via Wikimedia.
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