JetBlue Airways ( NASDAQ: JBLU ) is more confident in its reliability as an air carrier heading into the end of the year, according to an SEC filing released on Friday.
The New York-based carrier raised its third quarter available seat miles for the third quarter to be between 0.5% and -0.5% as compared to 2019, improved from a flat to down 3% prior forecast. Meanwhile, revenue per available seat mile was raised to 22% to 24% versus 2019. The airline had previously forecast between 19% and 23%.
“JetBlue continues to see the strong demand environment extend beyond the summer peak, with robust demand for travel in September and beyond,” the filing stated. “Ancillary revenue also continues to perform well, aided by record co-brand spend.”
Cost per available seat mile was kept steady at 15-17% and the estimated fuel price per gallon for the quarter was raised to $3.86 versus a prior $3.68 estimate.
Update: In speaking at the MorganMorgan Stanley 2022 Laguna Conference, CEO Robin Hayes indicated fourth quarter capacity will exceed 2019 levels. However, he expects the impact of the pilot shortage to remain as an overhang well into 2023.
Read more on the progress of the prospective takeover of Spirit Airlines .
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JetBlue boosts capacity, revenue expectations (update)