JetBlue raises revenue per ASM outlook, as it still sees ‘robust’ travel demand

JetBlue Airways Corp.
said Friday that it is seeing “strong demand” extend beyond the summer peak, with “robust” demand for travel in September and beyond. The air carrier raised its third-quarter guidance for growth in revenue per available seat mile (RASM), compared with pre-pandemic 2019, to $22% to 24% from 19% to 23%. The company also revised its outlook for third-quarter ASM, or capacity, to down 0.5% to up 0.5% from down 3% to flat. JetBlue also raised its estimate for fuel price per gallon to $3.86 from $3.68, but maintained its forecast for cost per ASM excluding fuel versus 2019 at 15% to 17%. JetBlue’s stock fell 1.6% in premarket trading, while the U.S. Global Jets ETF
shed 1.1% ahead of the open and futures
for the S&P 500
slid 0.8%.

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