JetBlue Airways' (JBLU) July Load Factor Falls, Stock Down
Zacks Investment Research | Aug 11, 2017 07:35AM ET
Long Island City, NY-based JetBlue Airways Corporation (NASDAQ:JBLU) posted a significant rise in air traffic for July. Traffic – measured in revenue passenger miles (RPMs) – improved 5.1% year over year to 4.48 billion. On a year-over-year basis, consolidated capacity (or available seat miles/ASMs) expanded 5.9% to 5.14 billion.
Load factor or percentage of seats filled by passengers decreased 70 basis points (bps) to 87.1% in the month as capacity expansion outpaced traffic growth. This decline in load factor seems to have disappointed investors. Consequently, the stock declined 1.78% to $21.46 at the close of business on Aug 10.
The low-cost carrier registered a completion factor (system wide) of 97.5% in the month with 63.5% flights on schedule.
On a year-to-date basis, the carrier posted a 4.6% rise in RPMs while ASMs rose 4.7%, both on a year-over-year basis. Load factor fell 10 bps year over year to 85%.
JetBlue Airways Corporation Price
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