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Jetblue (JBLU) To Launch Multiple Routes to Attract Traffic

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JetBlue Airways (JBLU - Free Report) announces 24 new non-stop services in a bid to take advantage of the improvement in leisure travel demand. These routes will include four JetBlue focus cities. The carrier will also expand its Mint services in Newark and Los Angeles Through this move, JetBlue aims to generate additional revenues and bring back some temporarily parked aircraft into service, which will boost flying opportunities for its crewmembers.

Commencing from Nov 19, 2020 JetBlue will initiate services connecting Newark Liberty International Airport Aruba Queen Beatrix International Airport, Cancún International Airport (CUN), Jamaica Sangster International Airport, Bahamas Lynden Pindling International Airport, Caicos Providenciales International Airport, Punta Cana International Airport and Saint Maarten Princess Juliana International Airport.

Services from Los Angeles International Airport to Charleston International Airport, CUN, Costa Rica Daniel Oduber Quirós International Airport, Palm Beach International Airport, Raleigh–Durham International Airport (RDU), Richmond International Airport, Costa Rica Juan Santamaría International Airport are also anticipated to begin in November and December.

Starting off on Nov 19, JetBlue will initiate a flight connecting San Juan Luis Muñoz Marín International Airport and RDU.  Commencing on Dec 18, 2020 this low-cost carrier will begin a flight connecting Fort Lauderdale-Hollywood International Airport to Bozeman Yellowstone International Airport and Palm Springs International Airport. Apart from the above routes, JetBlue announced that it will start additional flights to Florida later this year. The carrier also decided to boost its Latin American and Caribbean footprint.

Notably, JetBlue is constantly trying to expand its network to generate additional traffic and bolster the top line. To this end, JetBlue recently announced plans for adding 30 new domestic routes as it aims to take advantage of the gradually increasing demand for leisure and VRF (visiting friends and relatives) travel.

Zacks Rank & Stocks to Consider

JetBlue currently carries a Zacks Rank #4 (Sell).

Some better-ranked stocks in the Zacks Transportation sector are Knight-Swift Transportation Holdings Inc. (KNX - Free Report) , Canadian Pacific Railway Limited (CP - Free Report) and Werner Enterprises, Inc. (WERN - Free Report) . Knight-Swift and Werner sports a Zacks Rank #1(Strong Buy), while Canadian Pacific carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Long-term expected earnings per share (three to five years) growth rate for Knight-Swift, Canadian Pacific and Werner is pegged at 15%, 8% and 8.5%, respectively.

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