earnings
confidence high
sentiment positive
materiality 0.65
JetBlue updates Q3 guidance: revenue outlook raised, fuel costs down, interest expense up
JETBLUE AIRWAYS CORP
- Q3 revenue YoY guidance narrowed to -2.5% to +1.0% from prior -5.5% to -1.5%; ASMs slightly improved.
- Fuel price guidance lowered to $2.70-$2.80/gallon from $2.82-$2.97; CASM ex-fuel improved to 5%-7%.
- Completed $2B senior secured notes (2031), $765M term loan (2029), and $460M convertible notes (2029).
- Full-year interest expense now guided at $370M-$380M, up from prior assumption of $320M-$330M.
- On-time performance improved ~10 points YoY; revenue initiatives and re-accommodation revenue contributed.