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JetBlue Airways' November Traffic, Load Factor Improve
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Low-cost carrier JetBlue Airways Corp. (JBLU - Free Report) recently reported improved air traffic in the month of November this year. Traffic – measured in revenue passenger miles (RPMs) – was 3.64 billion, up 7.1% from 3.4 billion a year ago. On a year-over-year basis, consolidated capacity or available seat miles (ASMs) grew 5.2% to 4.26 billion.
Additionally, load factor or percentage of seats filled by passengers increased to 85.4% from 83.9% in Nov 2015. JetBlue’s preliminary revenue per available seat mile (RASM) in the month remained almost flat on a year-over-year basis.
For the first eleven months of 2016, JetBlue reported 9.9% rise in RPMs to 41.65 billion and 9.4% increase in ASMs of 48.9 billion, both on a year-over-year basis. Moreover, load factor improved 30 basis points to 85.2%.
The airline also recorded an 84.3% on-time performance and 99.8% completion factor for the month of November. The number of departures grew 6.2% and 6.8% for the reported month and for the first 11 months, respectively.
The November traffic statistics have been good for several peers of the airline too, such as Delta Air Lines Inc. (DAL - Free Report) , Southwest Airlines Co. (LUV - Free Report) , and Alaska Airlines (ALK - Free Report) .
Fourth-Quarter Guidance
JetBlue provided guidance for the fourth quarter. RASM is expected to decline between 1% and 2%, on a year-over-year basis. The company also mentioned that December RASM is likely to be favorably impacted by around 1% from incentive payments associated with its co-brand credit card deal.
The company’s stock, however, dipped 1.28% as investors are concerned about the expected decline in RASM.
We note that the company has been performing well over the past few months and has surpassed the Zacks categorized Transportation-Airline industry over the last three months. The stock has gained over 25.77% compared with the industry, which has advanced just 23.44% over the same period.
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JetBlue Airways' November Traffic, Load Factor Improve
Low-cost carrier JetBlue Airways Corp. (JBLU - Free Report) recently reported improved air traffic in the month of November this year. Traffic – measured in revenue passenger miles (RPMs) – was 3.64 billion, up 7.1% from 3.4 billion a year ago. On a year-over-year basis, consolidated capacity or available seat miles (ASMs) grew 5.2% to 4.26 billion.
Additionally, load factor or percentage of seats filled by passengers increased to 85.4% from 83.9% in Nov 2015. JetBlue’s preliminary revenue per available seat mile (RASM) in the month remained almost flat on a year-over-year basis.
For the first eleven months of 2016, JetBlue reported 9.9% rise in RPMs to 41.65 billion and 9.4% increase in ASMs of 48.9 billion, both on a year-over-year basis. Moreover, load factor improved 30 basis points to 85.2%.
The airline also recorded an 84.3% on-time performance and 99.8% completion factor for the month of November. The number of departures grew 6.2% and 6.8% for the reported month and for the first 11 months, respectively.
The November traffic statistics have been good for several peers of the airline too, such as Delta Air Lines Inc. (DAL - Free Report) , Southwest Airlines Co. (LUV - Free Report) , and Alaska Airlines (ALK - Free Report) .
Fourth-Quarter Guidance
JetBlue provided guidance for the fourth quarter. RASM is expected to decline between 1% and 2%, on a year-over-year basis. The company also mentioned that December RASM is likely to be favorably impacted by around 1% from incentive payments associated with its co-brand credit card deal.
The company’s stock, however, dipped 1.28% as investors are concerned about the expected decline in RASM.
We note that the company has been performing well over the past few months and has surpassed the Zacks categorized Transportation-Airline industry over the last three months. The stock has gained over 25.77% compared with the industry, which has advanced just 23.44% over the same period.
Zacks Rank
JetBlue carries a Zack Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>