Market Overview

JetBlue Airways Reports March Traffic

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JetBlue Airways Corporation (NASDAQ:JBLU) reported its preliminary
traffic results for March 2019. Traffic in March increased 7.9 percent
from March 2018, on a capacity increase of 12.6 percent. Load factor for
March 2019 was 85.3 percent, a decrease of 3.7 points from March 2018.
JetBlue's preliminary completion factor for March 2019 was 98.4 percent
and its on-time (1) performance was 73.8 percent.

The following reflects revised guidance for the first quarter of 2019:

  • First quarter RASM (a) is expected to decrease
    approximately 3.1 percent year-over-year, versus our prior guidance
    range of negative 1.5 to negative 3.5 percent. Higher than expected
    completion factor negatively impacted first quarter RASM by
    approximately 0.75 points.
  • CASM ex-fuel (b) growth for the first quarter is expected
    to be at or below the lower end of our initial guidance range of 1.5
    to 3.5 percent. Higher than expected completion factor similarly
    reduced CASM ex-fuel by approximately 0.75 points.
  • JetBlue expects the price of jet fuel for the first quarter to range
    between $2.05 and $2.06 per gallon. Our fuel consumption is expected
    to be broadly in line with our original guidance of 215 million
    gallons for the quarter.
    (a) Revenue per available
    seat mile
    (b) Operating cost per available seat mile,
    excluding fuel and related taxes, operating expenses related to other
    non-airline businesses, and special items
 

JETBLUE AIRWAYS TRAFFIC RESULTS

  March 2019   March 2018   % Change
Revenue passenger miles (000) 4,721,374 4,376,149 7.9 %
Available seat miles (000) 5,535,718 4,918,144 12.6 %
Load factor 85.3 % 89 % -3.7 pts.
Revenue passengers 3,783,575 3,651,416 3.6 %
Departures 32,005 30,179 6.1 %
Average stage length (miles) 1,154 1,099 5.0 %
 
Y-T-D 2019 Y-T-D 2018 % Change
Revenue passenger miles (000) 12,734,121 11,866,145 7.3 %
Available seat miles (000) 15,436,999 14,024,559 10.1 %
Load factor 82.5 % 84.6 % -2.1 pts.
Revenue passengers 10,165,013 9,880,785 2.9 %
Departures 89,236 86,046 3.7 %
Average stage length (miles) 1,153 1,098 5.0 %
 

(1) The U.S. Department of Transportation considers on-time arrivals to
be those domestic flights arriving within 14 minutes of schedule.

JetBlue is New York's Hometown Airline®, and a leading carrier in
Boston, Fort Lauderdale-Hollywood, Los Angeles (Long Beach), Orlando,
and San Juan. JetBlue carries more than 42 million customers a year to
100+ cities in the U.S., Caribbean, and Latin America with an average of
more than 1,000 daily flights. For more information please visit jetblue.com.

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