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☆ JetBlue cuts profit forecast as travel demand shifts; shares fall
  + stars: | 2023-08-01 | by ( Rajesh Kumar Singh Kannaki Deka | Rajesh Kumar Singh | Kannaki Deka | ) www.reuters.com   time to read: +3 min
Investors have been jittery about the strength of domestic travel demand, as recent fare data shows ticket prices have peaked. Like leisure carrier Alaska Air (ALK.N), JetBlue said soaring demand for long-haul international trips has led to a drop in domestic travel. While JetBlue expects the trend to improve in the fourth quarter, around the winter holidays, it is still estimated to hurt the company's full-year earnings. JetBlue now expects full-year adjusted profit of 5 cents to 40 cents per share, compared with its previous forecast of 70 cents to $1 per share. Profit for the second quarter came in at 45 cents per share, compared with analysts' average estimate of 44 cents per share, according to Refinitiv data.
Persons: Chris Helgren, Pratt, Ursula Hurley, Rajesh Kumar Singh, Anil D'Silva, Jan Harvey Organizations: JetBlue, Newark Liberty International Airport, REUTERS, JetBlue Airways, American Airlines, NYSE, Investors, Carriers, Alaska Air, Pratt & Whitney, Airbus, Pratt, Whitney, Thomson Locations: New York City, New Jersey, U.S, York, Boston, New York, Chicago, Bengaluru
☆ JetBlue posts quarterly loss but forecasts profit thanks to strong travel demand
  + stars: | 2023-04-25 | by ( Leslie Josephs | ) www.cnbc.com   time to read: +3 min
JetBlue Airways posted a loss for the first three months of the year but joined other carriers in forecasting a profit for the second quarter thanks to strong travel demand. Here's how JetBlue performed in the first quarter compared with Wall Street expectations based on Refinitiv consensus estimates:Adjusted loss per share: 34 cents vs. 38 cents expected. 34 cents vs. 38 cents expected. Revenue: $2.33 billion vs. $2.32 billion expected. Adjusting for one-time items, JetBlue had a loss of $111 million, or 34 cents per share, better than the loss of 38 cents a share analysts expected.
☆ U.S. airlines forecast strong 2023 travel, costs may dampen outlook
  + stars: | 2023-01-26 | by ( Aishwarya Nair Abhijith Ganapavaram | Aishwarya Nair | Abhijith Ganapavaram | ) www.reuters.com   time to read: +4 min
Jan 26 (Reuters) - U.S. airlines expect strong travel demand that drove record fourth-quarter revenues to continue into 2023, but economic uncertainty and burgeoning labor and operations costs could cloud their rosy outlooks. On Thursday, American Airlines (AAL.O), JetBlue Airways Corp (JBLU.O) and Alaska Air Group (ALK.N) forecast better-than-expected full-year earnings. JetBlue forecast expenses excluding fuel to rise 1.5% to 4.5% in 2023. China's recent reopening may also boost international travel, but demand remains uncertain and U.S. airlines face challenges toward cashing in. American Airlines forecast an adjusted profit of $2.50 to $3.50 per share for 2023, handily beating analyst expectations of $1.77, according to Refinitiv data.
☆ JetBlue posts quarterly profit as travel demand helps cover jump in costs
  + stars: | 2022-10-25 | by ( Leslie Josephs | ) www.cnbc.com   time to read: +3 min
A JetBlue Airways Corp. plane prepares for landing at LaGuardia Airport in New York, U.S., on Tuesday, April 18, 2017. JetBlue Airways eked out a $57 million profit for the third quarter as strong travel demand and higher fares helped the carrier cover more expensive fuel and other costs. The New York-based airline's revenue rose 30% during the quarter from the same period last year to $2.56 billion, in line with analysts' estimates. Larger U.S. carriers have been upbeat about travel demand and largely outperformed analysts' expectations on resilient travel demand, particularly on the return of international trips. The airline forecast fourth-quarter unit costs, excluding fuel, to be up as much as 10.5% from three years ago.
☆ Airlines have the passengers. Now they need the planes
  + stars: | 2022-10-25 | by ( Leslie Josephs | ) www.cnbc.com   time to read: +2 min
But new planes are in short supply, they warned, limiting growth and keeping fares high. JetBlue Airways said Tuesday that it was supposed to receive 29 planes from Airbus next year but will only get about 22. That means airlines that had parked planes and slashed growth are now struggling to expand. Boeing and Airbus, which didn't immediately comment, are set to report results on Wednesday and Friday, respectively. Raytheon's Pratt and Whitney engines fly on both Boeing and Airbus planes, and its Collins Aerospace unit supplies both manufacturers.
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