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JetBlue says hurricanes hurt third, fourth quarter revenue
October 11, 2017 / 1:34 PM / in 2 months

JetBlue says hurricanes hurt third, fourth quarter revenue

Oct 11 (Reuters) - U.S. carrier JetBlue Airways Corp warned on Wednesday that revenue and operating income for the third and fourth quarters would be hurt by the recent historic hurricanes, which led to thousands of canceled flights across the United States.

The airline said on a preliminary basis third-quarter revenue would be cut by $44 million and operating income would be reduced by about 6 cents to 7 cents per share.

The New York-based carrier expects revenue in the fourth quarter to be hurt by about $70 million to $90 million based on current passenger bookings. Operating income will be chopped by 10 cents to 13 cents per share.

JetBlue is expected to report third-quarter results and a fourth-quarter forecast on Oct 24.

The company did say third-quarter unit revenue, a key metric that compares sales to flight capacity, would rise by 0.9 percent. Last month, the airline forecast unit revenue between a decline of 1 percent and a rise of 1 percent, excluding Irma.

JetBlue expects unit revenue growth to be hurt by 1 to 2 percentage points in the fourth quarter due to Hurricanes Irma and Maria.

For the full year, JetBlue expects revenue to be impacted by $114 million to $134 million and operating income to be reduced by 16 cents to 20 cents per share.

Reporting by Arunima Banerjee in Bengaluru; Editing by Arun Koyyur

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