JetBlue Airways Corporation (JBLU - Free Report) recently posted its traffic update for September, which reflects a significant increase in the metric. Revenue passenger miles (RPMs) – a measure of traffic – climbed 10.8% on a year-over-year basis to 3.43 billion. Average seat miles (ASMs) – a measure of capacity – rose 7.9% to 4.13 billion in Sep 2016.
Load factor (percentage of seats filled by passengers) expanded 210 basis points to 83.2% in the month as traffic growth outpaced capacity expansion.
The number of departures during Sep 2016 grew 6.4%. The low-cost carrier registered a completion factor of 99.5%, with 78.7% of its flights on schedule. JetBlue’s preliminary revenue per available seat mile (RASM) dropped roughly 2% year over year in September. For the first nine months of 2016, JetBlue witnessed a 10.5% increase in RPMs to 34.43 billion and a 10.3% rise in ASMs to 40.42 billion, both on a year-over-year basis. Load factor improved 10 basis points to 85.2% in the period.
The company reiterated its third-quarter guidance and continues to expect RASM for the quarter to decline 3–4% year over year.
New Routes
JetBlue also entered into some important strategic agreements in September. These include the code share agreement with Cape Air and a remarkable renewable jet fuel purchase agreement with SG Preston. The company also announced new non-stop flight services between Orlando and Los Angeles.
However, this Zacks Rank #3 (Hold) carrier continues to face tough competition from peers like SkyWest Inc. (SKYW - Free Report) , Alaska Air Group, Inc. (ALK - Free Report) and Southwest Airlines Co. (LUV - Free Report) . We wait to see how JetBlue performs when it releases third-quarter earnings results on Oct 25, 2016. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Confidntial from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
JetBlue Airways Corporation (JBLU - Free Report) recently posted its traffic update for September, which reflects a significant increase in the metric. Revenue passenger miles (RPMs) – a measure of traffic – climbed 10.8% on a year-over-year basis to 3.43 billion. Average seat miles (ASMs) – a measure of capacity – rose 7.9% to 4.13 billion in Sep 2016.
Load factor (percentage of seats filled by passengers) expanded 210 basis points to 83.2% in the month as traffic growth outpaced capacity expansion.
The number of departures during Sep 2016 grew 6.4%. The low-cost carrier registered a completion factor of 99.5%, with 78.7% of its flights on schedule. JetBlue’s preliminary revenue per available seat mile (RASM) dropped roughly 2% year over year in September. For the first nine months of 2016, JetBlue witnessed a 10.5% increase in RPMs to 34.43 billion and a 10.3% rise in ASMs to 40.42 billion, both on a year-over-year basis. Load factor improved 10 basis points to 85.2% in the period.
The company reiterated its third-quarter guidance and continues to expect RASM for the quarter to decline 3–4% year over year.
New Routes
JetBlue also entered into some important strategic agreements in September. These include the code share agreement with Cape Air and a remarkable renewable jet fuel purchase agreement with SG Preston. The company also announced new non-stop flight services between Orlando and Los Angeles.
However, this Zacks Rank #3 (Hold) carrier continues to face tough competition from peers like SkyWest Inc. (SKYW - Free Report) , Alaska Air Group, Inc. (ALK - Free Report) and Southwest Airlines Co. (LUV - Free Report) . We wait to see how JetBlue performs when it releases third-quarter earnings results on Oct 25, 2016. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Confidntial from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Get the latest research report on LUV - FREE
Get the latest research report on JBLU - FREE
Get the latest research report on ALK - FREE
Get the latest research report on SKYW - FREE