(RTTNews) - JetBlue (JBLU) updated investor guidance for the third quarter ending September 30, 2024. Revenue is now projected between a decline of 2.5% to an increase of 1.0% compared to prior year. Previously, the guidance was a decline in a range of 5.5% - 1.5%. Available Seat Miles are now projected to decine in the range of 5.0% - 3.0% from last year. Prior guidance was a decline in a range of 6.0% - 3.0%.
JetBlue said its revenue performance quarter-to-date was benefited by several factors, including improving in-month bookings, particularly in the Latin region, and continued progress from its previously announced $300 million worth of revenue initiatives. The company also recognized revenue uplift from the re-accommodation of customers affected by other airlines' cancellations due to technology outages in July.
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