JetBlue Airways Boosts Q4, FY23 Outlook

(RTTNews) - While announcing operational and financial update of its expected fourth quarter and full-year 2023 results on Thursday, JetBlue Airways Corp. (JBLU) said it achieved a 99.9 percent completion factor for the month of November and 100 percent completion factor for the Thanksgiving peak period.

JetBlue said demand for travel remains healthy. Since late October, close-in bookings have outperformed expectations for both holiday peak and non-holiday travel periods.

For the fourth quarter, the company now projects a loss in a range of $0.35 to $0.35 per share on a revenue decline of 7.0 to 4.0 percent. Previously, it expected a loss in the range of $0.55 to $0.35 per share on a revenue decline of 10.5 to 6.5 percent.

On average, analysts polled by Thomson Reuters expect the company to report a loss of $0.39 per share on a revenue decline of 7.2 percent to $2.24 billion for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2023, the company now projects a loss in a range of $0.50 to $0.40 per share on revenue growth of 4.0 to 5.0 percent. Previously, it expected a loss in the range of $0.65 to $0.45 per share on revenue growth of 3.0 to 5.0 percent.

The Street is looking for a loss of $0.65 per share on revenue growth of 4.0 percent to $9.53 billion for the year.