Yahoo Finance JetBlue's (JBLU) July Traffic Solid on High Travel Demand
JetBlue Airways Corporation JBLU reported robust July traffic results. Traffic – measured in revenue passenger miles (RPMs) – improved 6.2% year over year to 4.76 billion. On a year-over-year basis, consolidated capacity (or available seat miles/ASMs) expanded 4.1% to 5.35 billion.
Owing to traffic rise exceeding capacity expansion, load factor or percentage of seats filled up by passengers grew 180 basis points (bps) to 88.9%. The low-cost carrier registered a completion factor (system wide) of 97.6% in the month with 67.2% flights on schedule.
On a year-to-date basis, the carrier posted a 5.9% increase in RPMs while ASMs climbed 4.7%, both on a year-over-year basis. Load factor was up 90 bps in the period to 85.9%.
JetBlue Airways Corporation Price
JetBlue Airways Corporation Price | JetBlue Airways Corporation Quote
JetBlue maintains its projection for revenue per available seat mile (RASM) growth for the third quarter of 2018 in the range of 0-3%. Additionally, the carrier anticipates capacity increase between 7.5% and 9.5%. Third-quarter fuel cost, net of hedges, is estimated at $2.33 per gallon. Meanwhile, non-fuel unit costs are predicted to rise in the band of 3-5%.
Zacks Rank & Key Picks
JetBlue has a Zacks Rank #5 (Sell).
Some better-ranked stocks in the broader Transportation sector are SkyWest, Inc. SKYW, GATX Corporation GATX and Trinity Industries, Inc. TRN. While SkyWest and Trinity sport a Zacks Rank #1 (Strong Buy), GATX carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of SkyWest, GATX and Trinity, have surged more than 60%, 33% and 31%, respectively, in a year.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
JetBlue Airways Corporation (JBLU) : Free Stock Analysis Report
SkyWest, Inc. (SKYW) : Free Stock Analysis Report
Trinity Industries, Inc. (TRN) : Free Stock Analysis Report
GATX Corporation (GATX) : Free Stock Analysis Report
To read this article on Zacks.com click here.
