JetBlue releases quarterly investor update.
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North America,
JetBlue Airways
Jetblue filed (21-Sep-06) its quarterly update to the US Securities and Exchange Commission for 3Q06, anticipating a break even or loss position for the full year.
The carrier revised its forecast third quarter EBIT to -1% to +1%, as well as a full year profit margin of -2% to 0%, down 1% over the previous guidance from 25-Jul-06. Operating margin is expected to be between 4% to 6%, while full-year margin is expected to be between 2% to 4%. The guidance assumes the sale of two A320s in Sep-06 and three in Oct-06, resulting in a USD6 million gain in Q306 and an immaterial loss in 4Q06.
Operationally, JetBlue forecasts revenue (per Available Seat Mile) to increase 13% to 15% for Q306 and 12% to 14% for the full-year, both down five percentage points over the previous guidance. Costs (per Available Seat Mile) are expected to grow ahead of revenue, rising 14% to 16% for 3Q06 and 12% to 15% for the full year. Capacity growth is forecast at 19% to 21% for the third quarter and 20% to 22% for the full-year.
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JetBlue releases quarterly investor update. 
