JetBlue Airways Corp. said Tuesday morning that it’s seen “strong” operational performance thus far in the quarter, with its completion factor nearly 100% during the peak November holiday travel period. JetBlue anticipates that it will see a 1% to 4% bump in flown capacity in the fourth quarter of 2022 compared with the third quarter of 2019. That said, JetBlue now expects revenue per available seat mile in the fourth quarter to be at the low end of its prior outlook, which called for a 15% to 19% bump. While the company has seen “strong ancillary revenue performance,” it also “experienced a negative impact from Hurricane Nicole in November, and the expected very strong close-in demand for December reflected in its prior outlook has materialized below expectations.” Additionally, the company has observed a greater adverse effect from the timing of this year’s holidays than it previously anticipated. Shares of JetBlue are down about 1% in premarket action Tuesday.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
0
0
