JetBlue Airways Lowers Full Year Capacity Guidance

JetBlue Airways Corporation JBLU disclosed that it is reducing its capacity outlook for the full year and now expects available seat mile growth to be 8.0–9.5 percent. Earlier, the company estimated 8.5 – 10.5 percent growth in ASM.

JetBlue reported its traffic in May grew 10.7 percent from May 2015, driven by a capacity increase of 12.1 percent.

The company stated its load factor for May, however, slipped 1.1 points to 84.6 percent. The airliner's preliminary completion factor was 99.6 percent and its on-time performance was 80.7 percent.

JetBlue's preliminary revenue per available seat mile (RASM) for May fell about seven percent year over year. For the second quarter, the company expects RASM to fall between seven and a half and eight and a half percent year over year, toward the lower end of prior expectations.

Year-to-date, load factor slipped 0.6 points to 84.3 percent while RPM advanced 12.2 percent.

The stock traded 0.98 percent down in the pre-market on Friday