Maybe Halloween was too spooky of a day for an earnings call
from JetBlue Airways. The airline announced losses of $0.46 per share in the
third quarter, or $0.39 after one-time expenditures.
The final result missed Wall Street expectations. Analysts
were calling for an average loss of $0.27 per share. Revenue of $2.35 billion
also fell short of Wall Street expectations of $2.38 billion.
“While we faced challenges in the quarter, including
significant weather-related impacts and rising fuel prices, our Crewmembers
rose to the occasion, focusing on what we can control to mitigate these
headwinds and provide our customers with great service,” said Robin Hayes,
JetBlue’s Chief Executive Officer, in a statement.
“As we look ahead, we are making improvements to drive
profitable growth and ensure JetBlue is positioned for success in 2024 and
beyond,” Hayes continued.
Also, more bad news for JetBlue. An attorney with the U.S.
Justice Department urged a federal judge to block
the merger between JetBlue and Spirit Airlines. The airlines have gone to
trial in Boston over the proposed merger.
If a ruling comes in the next three months, it could
significantly affect JetBlue’s fourth-quarter earnings. In the meantime, the
airline also had a major shake-up in its route network and cut 14
flights.
The affected routes are:
- Boston Logan International Airport (BOS)-Newark Liberty
International Airport (EWR)
- Boston Logan International Airport (BOS)-Frederick Douglass
Greater Rochester International Airport (ROC)
- Newark Liberty International Airport (EWR)-Miami
International Airport (MIA)
- John F. Kennedy International Airport (JFK)-Burlington
International Airport (BTV)
- John F. Kennedy International Airport (JFK)-Ronald Reagan
Washington National Airport (DCA)
- Los Angeles International Airport (LAX)-Charleston
International Airport (CHS)
- LaGuardia Airport (LGA)-L.F. Wade International Airport
(BDA)
- LaGuardia Airport (LGA)-Nashville International Airport
(BNA)
- LaGuardia Airport (LGA)-Charleston International Airport
(CHS)
- LaGuardia Airport (LGA)-Denver International Airport (DEN)
- LaGuardia Airport (LGA)-Cape Cod Gateway Airport (HYA)
- LaGuardia Airport (LGA)-Jacksonville International Airport
(JAX)
- LaGuardia Airport (LGA)-Portland International Jetport (PWM)
- LaGuardia Airport (LGA)-Sarasota Bradenton International
Airport (SRQ)
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