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JetBlue (JBLU) to Expand Network by Adding Florida Routes
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JetBlue Airways (JBLU - Free Report) , in coordination with Massachusetts Port Authority (Massport), announced two new routes from Worcester Regional Airport in Massachusetts to attract additional traffic. One of these is a seasonal service from Worcester, MA, to Southwest Florida International Airport in Fort Myers, FL. Flights (non-stop) on this route will be operational from Jan 4, 2024.
Initially, flights will operate twice a week on this route. However, from mid-February till the end of the Red Sox Spring Training, flights will operate daily to meet the anticipated demand swell.
The other route will be operating from Worcester, MA to Orlando Sanford International Airport. Flights to Orlando, which stopped during the pandemic, will resume operation from Jun 15. This will imply that JBLU is the sole airline offering non-stop service between the two cities.
Expressing delight at the route additions, Robin Hayes, the chief executive officer of JetBlue said "We are proud to introduce even more options to connect our Massachusetts customers to the places they want to fly with more nonstop Florida service from Worcester." Once the new routes become operational, JetBlue will offer services to three cities in Florida – Fort Lauderdale, Orlando and Fort Myers – from Worcester.
Driven by the stronger-than-expected revival of air-travel demand, shares of JBLU have gained 9.1% year to date, outperforming its industry’s 5% appreciation.
Image Source: Zacks Investment Research
Given this backdrop, the decision to introduce new routes is extremely prudent. This is likely to boost JBLU’s top line, given the increased demand for additional Florida flights from people in central Massachusetts area.
Zacks Rank & Key Picks
JetBlue currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Zacks Airline industry are American Airlines (AAL - Free Report) and Copa Holdings, (CPA - Free Report) .
American Airlines, currently sporting a Zacks Rank #1 (Strong Buy), is benefiting from the improved air-travel-demand situation. In the fourth quarter of 2022, AAL reported earnings of $1.17 per share, surpassing the Zacks Consensus Estimate by 2.63%. You can see the complete list of today’s Zacks #1 Rank stocks here.
Driven by soaring demand on healthy bookings, management expects total unit revenues in first-quarter 2023 to be roughly 24-27% higher than first-quarter 2022 levels. Over the past 60 days, the Zacks Consensus Estimate for AAL’s 2023 earnings has been revised 12.5% upward.
Copa Holdings is benefiting from the improvement in air-travel demand. In fourth-quarter 2022, passenger revenues increased 29.5% due to higher yields.
CPA’s focus on its cargo segment is encouraging. In fourth-quarter 2022, cargo and mail revenues grew 69%, owing to higher cargo volumes and yields. Copa Holdings' fleet modernization and cost-management efforts are also commendable.
The above-mentioned tailwinds are likely to continue aiding this Latin American carrier that currently sports a Zacks Rank #1. The Zacks Consensus Estimate for the company’s current-year earnings has been revised 10% upward over the past 60 days.
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JetBlue (JBLU) to Expand Network by Adding Florida Routes
JetBlue Airways (JBLU - Free Report) , in coordination with Massachusetts Port Authority (Massport), announced two new routes from Worcester Regional Airport in Massachusetts to attract additional traffic. One of these is a seasonal service from Worcester, MA, to Southwest Florida International Airport in Fort Myers, FL. Flights (non-stop) on this route will be operational from Jan 4, 2024.
Initially, flights will operate twice a week on this route. However, from mid-February till the end of the Red Sox Spring Training, flights will operate daily to meet the anticipated demand swell.
The other route will be operating from Worcester, MA to Orlando Sanford International Airport. Flights to Orlando, which stopped during the pandemic, will resume operation from Jun 15. This will imply that JBLU is the sole airline offering non-stop service between the two cities.
Expressing delight at the route additions, Robin Hayes, the chief executive officer of JetBlue said "We are proud to introduce even more options to connect our Massachusetts customers to the places they want to fly with more nonstop Florida service from Worcester." Once the new routes become operational, JetBlue will offer services to three cities in Florida – Fort Lauderdale, Orlando and Fort Myers – from Worcester.
Driven by the stronger-than-expected revival of air-travel demand, shares of JBLU have gained 9.1% year to date, outperforming its industry’s 5% appreciation.
Image Source: Zacks Investment Research
Given this backdrop, the decision to introduce new routes is extremely prudent. This is likely to boost JBLU’s top line, given the increased demand for additional Florida flights from people in central Massachusetts area.
Zacks Rank & Key Picks
JetBlue currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Zacks Airline industry are American Airlines (AAL - Free Report) and Copa Holdings, (CPA - Free Report) .
American Airlines, currently sporting a Zacks Rank #1 (Strong Buy), is benefiting from the improved air-travel-demand situation. In the fourth quarter of 2022, AAL reported earnings of $1.17 per share, surpassing the Zacks Consensus Estimate by 2.63%. You can see the complete list of today’s Zacks #1 Rank stocks here.
Driven by soaring demand on healthy bookings, management expects total unit revenues in first-quarter 2023 to be roughly 24-27% higher than first-quarter 2022 levels. Over the past 60 days, the Zacks Consensus Estimate for AAL’s 2023 earnings has been revised 12.5% upward.
Copa Holdings is benefiting from the improvement in air-travel demand. In fourth-quarter 2022, passenger revenues increased 29.5% due to higher yields.
CPA’s focus on its cargo segment is encouraging. In fourth-quarter 2022, cargo and mail revenues grew 69%, owing to higher cargo volumes and yields. Copa Holdings' fleet modernization and cost-management efforts are also commendable.
The above-mentioned tailwinds are likely to continue aiding this Latin American carrier that currently sports a Zacks Rank #1. The Zacks Consensus Estimate for the company’s current-year earnings has been revised 10% upward over the past 60 days.