JBLU - Air Traffic Control and Weather-Related Delays For JetBlue Was 'Staggering' In Q3 Stock Slides | Benzinga
JetBlue Airways Corp (NASDAQ: JBLU) stock plummeted after it reported a third-quarter FY23 operating revenue decline of 8.2% year-on-year to $2.35 billion, missing the consensus estimate of $2.81 billion.
Adjusted loss per share was $(0.39), missing the consensus of $(0.25).
Operating expenses increased 3.5% year-over-year to $2.51 billion. The company recorded an operating loss of $(156) million for the quarter, compared to a profit of $139 million a year ago.
The load factor declined to 85.1% in the quarter from 86.1% in 3Q22. Revenue passenger miles increased by 5.8% Y/Y, and ASM increased by 7.1% Y/Y. CASM ex-fuel decreased by 3.3% Y/Y.
The average aircraft fuel price per gallon, including related taxes, was $2.94 vs. $3.84 last ...