JetBlue lifts 2023 outlook on strong year-end bookings

JetBlue Airways Corp. boosted its full-year financial outlook, citing better-than-expected bookings and operational performance this fall. Its shares jumped in premarket trading. 

The airline expects an adjusted loss of 40 cents to 50 cents a share for 2023, and revenue growth of 4% to 5%, it said in a securities filing Thursday. That compared with an earlier forecast for an adjusted loss of 45 cents to 65 cents and for revenue gains of 3% to 5%.

“Demand for travel remains healthy,” the company said. “Since late October, close-in bookings have outperformed expectations for both holiday peak and non-holiday travel periods.”  

Shares rose 7.8% to $5.10 as of 7:39 a.m. in New York. The stock was down 27% so far this year through Wednesday’s close, compared with a 3.6% rise for the S&P SmallCap 600 Index. 

JetBlue also lifted its projection for the quarter ended Dec. 31. It now expects to report an adjusted loss of 25 cents to 35 cents a share, above its previous projection for an adjusted loss of 35 cents to 55 cents. It’s also better than a consensus analyst estimate for a loss of 41 cents a share.