JetBlue Airways Boosts Q2 Revenue Growth Guidance

(RTTNews) - JetBlue Airways Corp. (JBLU) on Thursday provided an operational and financial update of its business for the second quarter of 2022.

JetBlue said the operational performance has improved steadily since early April as a result of the investments the Company has made to enhance operational reliability into the summer peak. The demand environment continues to be strong, with bookings exceeding Company expectations.

While the industry continues to face some challenging operating conditions mainly due to weather and air traffic control disruption, JetBlue's completion factor in May is trending above 98%, compared to approximately 90% in the first three weeks of April.

Based on this, the company now expects flown capacity for the second quarter to increase in a range of 2 to 3 percent compared to the second quarter of 2019, compared to the prior projection for capacity to range between 0% and a 3% growth.

Due to a very strong demand environment, second quarter revenue is expected to be at or above the high-end of its prior guidance of a revenue increase between 11% and 16%. JetBlue continues to expect record revenue this summer. June revenue per available seat mile is expected to be up more than 20%.

The Company continues to expect CASM Ex-Fuel for the second quarter of 2022 to increase between 15% and 17%.