JetBlue Airways Lowers Q3 Revenue Expectations On Weather-related Disruptions

(RTTNews) - JetBlue Airways Corporation (JBLU), a low-cost airline company, on Thursday said it is revising down its third-quarter outlook citing air traffic and weather-related disruptions.

The airline said that the air traffic control and weather-related disruptions due to convective activity in the Northeast were more than expected in the quarter that affected crew and associated disruption costs and flown revenue, the company said in a filing with the Securities and Exchange Commission.

For the third-quarter, the company now expects its revenue to be near the low end of its previous guidance range.

On August 1, JetBlue had projected for a year-on-year decline of 4 percent to 8 percent in its third-quarter revenue.

The airline now forecast available seat miles ASMs to be up around seven percent year-over-year, the midpoint of its prior guidance range. Earlier, the company had projected ASMs growth of 5.5 percent to 8.5 percent.

JetBlue now expects a fuel price per gallon, net of fuel taxes and hedges, of around $2.95 for the third quarter as fuel prices have increased significantly.