JetBlue Airways Turns To Profit In Q2; Results Beat View

(RTTNews) - JetBlue Airways Corp. (JBLU) reported that its net income for the second quarter 2019 was $179 million or $0.59 per share, compared to a loss of $121 million or $0.39 per share in the prior year.

"Airbus has recently communicated additional A321neo delays that will reduce our 2020 growth plans and naturally add pressure to our CASM ex-fuel. Despite these delays, we remain confident that we can execute both our unit cost commitments and achieve our $2.50 to $3.00 earnings per share target for 2020," said Robin Hayes, JetBlue's Chief Executive Officer.

Adjusted earnings per share for the second quarter 2019 were $0.60 compared to $0.37 in the second quarter of 2018. Analysts polled by Thomson Reuters expected the company to report earnings of $0.57 per share. Analysts' estimates typically exclude special items.

Total operating revenues for the quarter grew to $2.11 billion from $1.93 billion in the previous year. Analysts expected revenues of $2.10 billion for the quarter.

Looking into the third quarter, the company expect RASM growth between 0.5 and 3.5 percent year over year.