JetBlue Wounded As Airlines Pour Capacity Into Latin American Leisure Markets [Forbes]
JetBlue Airways Corporation (JBLU)
Last jetblue airways corporation earnings: 1/23 07:00 am
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Source: Forbes
In the first quarter, the airline industry's excessive capacity expansion in Latin America leisure markets slightly wounded Delta and United. But it decimated JetBlue results. Excluding one-time items, JetBlue reported a first quarter loss of $145 million or 43 cents a share, as revenue declined 5.1% to $2.21 billion. In the same quarter a year earlier, the net loss was $111 million. During the carrier's earnings call, CFO Ursula Hurley declared, “We no longer plan to approach break even profitability this year.” In early afternoon trading, shares were down 16% to $6.30. Year-to-date, shares are up about 20%. A focus on the call, during both executive presentations and redundant analyst questions, was JetBlue's diminished returns in Caribbean and Latin American resort destinations. JetBlue serves 25 airports in the region from its Northeast and Fort Lauderdale hubs. Early on, CEO Joanna Geraghty cited “headwinds in Latin flying due to excess capacity” and noted, “Elevated cap
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News
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JBLU
Earnings
- 4/23/24 - Beat
JBLU
Sec Filings
- 5/1/24 - Form 4
- 5/1/24 - Form 4
- 5/1/24 - Form 4
- JBLU's page on the SEC website