JetBlue Airways Corporation has projected a revenue decline of between 5.0% to 9.0% in the first quarter year-over-year. According to their predictions, capacity, which is measured in Available Seat Miles, will fall between 3.0% - 6.0% from the previous year. For the 2024 fiscal year, the company intends to maintain a roughly flat revenue and a low single-digit decrease in AMSs.
JetBlue's Chief Financial Officer, Ursula Hurley, stated that they are judiciously examining possible deeper cuts to controllable costs. This is alongside their ongoing endeavors for fleet modernization and structural cost programs.
In contrast to a profit of $24 million last year, JetBlue reported a net loss of $104 million in the fourth quarter. Per share loss was $0.31 compared to a profit of $0.07 during the same period the previous year. Adjusted per share loss was $0.19 as opposed to a profit of $0.22. These figures were closer to the anticipated per share loss of $0.28 as predicted by 12 analysts from Thomson Reuters.
In the fourth quarter, operating revenue was found to be $2.3 billion, marking a 3.7% annual decrease. This total slightly exceeded the average revenue estimate of $2.28 billion by analysts. Over the same period, capacity saw an increase of 3.3% year-over-year.
