JetBlue Airways’ inventory falls after it says it does not count on a third-quarter revenue

JetBlue
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-1.02%
swung to a second-quarter revenue of $138 million, or 41 cents a share, from a year-ago lack of $188 million, or 58 cents a share.

Adjusted second-quarter revenue for the airline totaled 45 cents a share, forward of the analyst expectation of 44 cents a share, based on FactSet information.

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Second-quarter income at JetBlue elevated by 6.7% to $2.61 billion from $2.445 billion within the year-ago interval, and barely forward of the analyst estimate of $2.607 billion.

For the third quarter, JetBlue mentioned it could miss expectations because of the beforehand introduced lack of its Northeast alliance with American Airlines
AAL,
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in addition to a “challenging operating environment in the northeast and a greater than expected shift of pent-up COVID demand to long-haul international markets which is pressuring demand for domestic travel during the peak summer travel period.”

For the third quarter, JetBlue now expects an adjusted lack of 20 cents a share to breakeven, beneath the analyst goal of 40 cents a share in web revenue.

For full-year 2023, JetBlue is projecting earnings between 5 cents a share and 40 cents a share, beneath the analyst estimate of 78 cents a share.

To faucet worldwide demand, JetBlue started every day flights from New York City and Paris, with plans to fly between Boston and Paris beginning in 2024, in addition to new flights to the Caribbean.

“We faced a more challenging than expected operating environment driven by severe air traffic control restrictions and exacerbated by weather,” mentioned Joanna Geraghty, JetBlue’s chief working officer. “Our investments in the operation are making a difference and enabling us to recover more quickly as we manage through unforeseeable disruptions.”