:max_bytes(150000):strip_icc()/INV_JetBlueJets_GettyImages-1258433397-1372b82c66dd4dca917c61b7dfab826e.jpg?w=1500&resize=1500,1000&ssl=1 "JetBlue Lifts Revenue Outlook on Post-Election Travel Bump | Global News Avenue")
JetBlue Lifts Revenue Outlook on Post-Election Travel Bump
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Main points
- JetBlue Airways on Wednesday raised its revenue forecast for the current quarter and full year, saying it was benefiting from increased demand after last month’s U.S. presidential election.
- The airline said bookings for November and December following the vote were higher than expected.
- JetBlue also had a better-than-expected Thanksgiving week, and the airline reported higher-than-expected bookings for December.
JetBlue Airways stock (Jilin UniversityShares soared on Wednesday after the airline raised its revenue forecast for the current quarter and full year amid a post-election surge in travel.
The operator said in a regulatory filing on Wednesday that it now expects fourth-quarter revenue to fall 2% to 5% from the previous quarter. prospect Starting in late October, it is expected to fall 3% to 7% in the quarter ending December 31. JetBlue Airways Full-year revenue is expected to fall 3.5% to 4.5%, compared with the previous forecast of 4% to 5%.
Year-end “revenue headwinds” reduce after election
The company explained that its travel booking performance in November and December was “above expectations following the outbreak” US presidential election“. As a result, “Fourth-quarter revenue headwinds from the election are now estimated at 0.5 percentage points, compared with the previous forecast of 1.0 percentage points. ”
Additionally, JetBlue notes that strong Thanksgiving Week Performances That led to better-than-expected revenue during the November holiday rush. It also said bookings during the quarter were higher than initially expected for travel in December.
JetBlue shares rose nearly 8% to $6.53 in midday trading on Wednesday, and are up about 17.6% so far this year after a year of volatility.
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