JetBlue Airways Corp.’s stock
JBLU,
jumped 4.9% early Thursday, after the airline raised guidance for the fourth quarter and full year, saying travel demand remains “healthy.” “Since late October, close-in bookings have outperformed expectations for both holiday peak and non-holiday travel periods,” the carrier said in a regulatory filing. ” “JetBlue experienced strong operational performance during the month of November and achieved a 99.9% completion factor for the month and 100% completion factor for the Thanksgiving peak period.” The company is now expecting its fourth-quarter adjusted loss per share to range from 35 cents to 25 cents, narrower than prior guidance of 55 cents to 35 cents. It expects revenue to fall 7% to 4%, compared with prior guidance for a drop of 10.5% to 6.5%. Available seat miles are expected to rise 2.0% to 3.0%, up from prior guidance of up 0.5% to 3.5%. For the full year, the airline expects its adjusted loss per share to range from 50 cents to 40 cents, vs. prior guidance of 65 cents to 45 cents. Revenue is expected to rise 4.0% to 5.0%, compared with prior guidance of 3.0% to 5.0%. ASM are expected to rise 5.5% to 6.5%, versus prior guidance of 5.0% to 7.0%. The stock has fallen 27% in the year to date, while the S&P 500
SPX,
has gained 19%.
