{"id":54119,"date":"2023-12-10T18:07:56","date_gmt":"2023-12-10T18:07:56","guid":{"rendered":"https:\/\/prosfunds.com\/markets\/jetblue-airways-hikes-guidance-on-healthy-travel-demand-the-stock-is-soaring\/"},"modified":"2023-12-10T18:07:57","modified_gmt":"2023-12-10T18:07:57","slug":"jetblue-airways-hikes-guidance-on-healthy-travel-demand-the-stock-is-soaring","status":"publish","type":"post","link":"https:\/\/prosfunds.com\/?p=54119","title":{"rendered":"JetBlue Airways Hikes Guidance on Healthy Travel Demand. The Stock Is Soaring."},"content":{"rendered":"
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<\/p>\n<\/figure><\/div>\n

\n JetBlue Airways
\n stock was flying higher Thursday after the low-cost carrier hiked its current quarter guidance on strong holiday travel demand.<\/p>\n

It seems things aren\u2019t nearly as bad as investors, or JetBlue itself, initially feared. The airline\u2019s original guidance, issued on Halloween along with its third-quarter earnings, gave investors a serious fright. The stock had plunged more than 10% in response, touching a 12-year low at one point.<\/p>\n

\n

The stock has recovered since then, and the improved forecast announced Thursday is keeping the momentum going. JetBlue stock surged 13% in early trading Thursday; the shares have now climbed 45% from its 2023 low hit on Nov. 1. <\/p>\n

The company now expects revenue to decline between 4% and 7% in the fourth quarter from the year-ago period. It had previously forecast a steeper drop of between 6.5% and 10.5%. Full-year revenue will now rise between 4% and 5%, up from a previous 3% to 5% outlook.<\/p>\n

JetBlue still sees an adjusted loss in the current quarter, but a narrower one of 25 to 35 cents, an improvement on its initial 35 cents to 55 cents forecast.<\/p>\n

Other airline stocks were lifted early Thursday.
\n Southwest Airlines
\n jumped 5.1%,
\n American Airlines
\n rose 3.6%,
\n Delta Air Lines
\n was up 3.4%, and
\n United Airlines
\n rose 1.5%.<\/p>\n

\u201cDemand for travel remains healthy. Since late October, close-in bookings have outperformed expectations for both holiday peak and non-holiday travel periods,\u201d the company said in a filing.<\/p>\n

Strong holiday demand isn\u2019t much of a surprise\u2014the Sunday after Thanksgiving was the busiest day in the U.S. aviation history. But JetBlue flagging better-than-expected non-holiday demand is more significant.<\/p>\n

During earnings season, airlines noted an emerging trend of stronger-than-normal demand in peak periods and weaker nonpeak periods. If the latter doesn\u2019t materialize, or isn\u2019t as weak as feared, that will be a boon for the sector.<\/p>\n

With the holiday travel season set to ramp up again later in the month, the picture is beginning to improve for airlines, after months of downward pressure.<\/p>\n

Write to Callum Keown at callum.keown@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

JetBlue Airways stock was flying higher Thursday after the low-cost carrier hiked its current quarter guidance on strong holiday travel demand. It seems things aren\u2019t nearly as bad as investors, or JetBlue itself, initially feared. The airline\u2019s original guidance, issued on Halloween along with its third-quarter earnings, gave investors a serious fright. The stock had […]<\/p>\n","protected":false},"author":1,"featured_media":54120,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[33],"tags":[],"class_list":{"0":"post-54119","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets"},"yoast_head":"\nJetBlue Airways Hikes Guidance on Healthy Travel Demand. 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