JBLU - Flying Into Rough Air: JetBlue Airways' Mixed Bag Of Q4 & Cautious Outlook | Benzinga
JetBlue Airways Corp (NASDAQ:JBLU) stock is down after it reported fourth-quarter FY23 results.
Operating revenue declined by 3.7% year-on-year to $2.33 billion, beating the consensus estimate of $2.29 billion. Adjusted loss per share was $(0.19), surpassing the consensus of $(0.28).
Operating expenses increased 0.9% year-over-year to $2.39 billion. The company recorded an operating loss of $(67) million for the quarter, compared to a profit of $43 million a year ago.
The load factor declined to 80.1% in the quarter from 83.2% a year ago. Revenue passenger miles fell by 0.5% Y/Y, and ASM increased by 3.3% YY. Operating expense per available seat mile (CASM) ex-fuel increased by 7.6% Y/Y.
The average fuel price in the fourth quarter of 2023 was $3.08 per gallon, ...