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Airline Stocks: JetBlue is Back in the Black, Drops Routes
Published by AirlineFanatic | Filed under jetblue airways
JetBlue airways had their 3rd quarter conference call this morning and announced a stunning swing back to profits. Not only did they make money, but they almost doubled Wall Street’s estimates. They posted earning of 12 cents a share for the quarter while expectations had them pegged at only 7 cents.
JetBlue also announced they would be dropping service to Columbus, Ohio, and Nashville, Tennessee, as well dropping one daily flight between Oakland, California and Ft. Lauderdale, Florida. I’m not surprised that JetBlue would do this from their smaller hub in Boston, but to see them dropping service from their home airport of JFK piqued my interest. I guess that unlike Delta’sold Song division they are focused on making money and staying efficient. The E190s currently being used on this route look like they will be relocated to serve new routes starting three days later between the Northeast and Southeast and Florida.
One final note, JetBlue also announced they would sell at least two more Airbus A320 in early 2008, and possibly more if market conditions were favorable. They’ve been doing this for a while now as a way to hold down the size of the fleet and slow growth. As the pace of A320’s slows down a little, no announcement was made about E190 deliveries, which shows they continue to be a very efficient plane on which to run an airline.
All in all it was a pretty good quarter for the low cost carrier, which remained bullish and forecasted a strong holiday travel season.
October 24th, 2007 at 1:28 pm
[...] my post on JetBlue’s impressive quarterly results, the Wall Street Journal talks with Ray Neidl about United and JetBlue, as well as some general [...]
October 25th, 2007 at 12:19 pm
[...] Airline Stocks: JetBlue is Back in the Black, Drops Routes [...]