JetBlue Shares Down 1.8% Despite Increased Traffic
JetBlue Airways Corp.’s (NASDAQ:JBLU) increasing capacity has accounted for traffic increases of 11% in November. JetBlue boosted capacity 7.7% in November from a year earlier. Many legacy carriers have started to report declines. The stock is up 23% in the past three months.
Load factor rose to 83.3% from 80.9% last year. The company said preliminary passenger revenue per available seat mile, which is a key profitability metric for airlines, climbed 15% year-over-year.
The company said it expects fourth-quarter preliminary revenue per available seat mile, or PRASM, to increase between 11% and 13% year-over-year.
“JetBlue was one of the best-performing airlines in the downturn, but it reported a 41% decline in third-quarter profit in October as it struggled with a sharp increase in its fuel costs and took a hit from Hurricane Irene,” according MarketWatch.