A JetBlue plane at LaGuardia Airport.
Leslie Josephs/CNBC
JetBlue Airways posted a loss for the primary three months of the yr but joined other carriers in forecasting a profit for the second quarter due to strong travel demand.
JetBlue estimated per-share earnings of 35 cents to 45 cents for the present quarter, which coincides with the beginning of the height travel season, with revenue up 4.5% to eight.5% on the yr.
“For the second quarter, we expect strong revenue growth to proceed as demand stays robust and as we see continued momentum from our industrial initiatives,” CEO Robin Hayes said in an earnings release. “We’re forecasting a solidly profitable quarter, and we remain confident in our full-year earnings outlook.”
Here’s how JetBlue performed within the quarter ended March 31 compared with Wall Street expectations based on Refinitiv consensus estimates:
- Adjusted loss per share:Â 34 cents vs. 38 cents expected.
- Revenue:Â $2.33 billion vs. $2.32 billion expected.
The Latest York-based airline struck a deal to purchase budget carrier Spirit Airlines in July for $3.8 billion in money, however the Justice Department sued to dam the acquisition last month.
JetBlue executives will face questions from analysts about that deal during a quarterly call scheduled for 10 a.m. ET. Also they are more likely to be asked about JetBlue’s partnership with American Airlines within the Northeast, which the Justice Department also sued to undo. A judge has not yet ruled in that case.
JetBlue’s CEO told CNBC last month that the carrier is among the many airlines that plans to in the reduction of a few of its schedule within the Latest York area this summer due to a shortage of air traffic controllers, a part of a plan with the Federal Aviation Administration to scale back congestion.
That is breaking news. Please check back for updates.
