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JetBlue Shares Soar as Airline Lowers Loss Forecast Amid Strong Demand

The airline boosts its revenue outlook and reports nearly perfect flight completion in November, despite ongoing legal battle over Spirit Airlines acquisition.

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Overview

  • JetBlue Airways shares soared more than 11% in intraday trading Thursday after the airline lowered its full-year loss guidance due to booming demand for tickets.
  • The carrier reduced its forecast for its 2023 loss to $0.40 to $0.50 from a loss of $0.45 to $0.65, and boosted the low end of its revenue outlook, which it now sees rising 4% to 5% compared to the earlier 3% to 5%.
  • JetBlue noted that since late October, close-in bookings have outperformed expectations for both holiday peak and non-holiday travel periods.
  • The airline's operational performance was strong, with 99.9% of its flights completed during November, and 100% for the Thanksgiving peak period.
  • JetBlue is currently in a legal battle with the Department of Justice that could impact JetBlue's $3.8 billion acquisition of rival low-cost carrier Spirit Airlines.