JetBlue Airways Corp (MIL:1JAM)
€ 5.24 0 (0%) Market Cap: 1.88 Bil Enterprise Value: 6.33 Bil PE Ratio: 0 PB Ratio: 0.75 GF Score: 50/100
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Q3 2024 JetBlue Airways Corp Earnings Call Transcript

Oct 29, 2024 / 02:00PM GMT
Release Date Price: €5.67 (-13.10%)

Key Points

Positve
  • JetBlue Airways Corp (JBLU) reported a 5-point improvement in operating margin year-over-year for the third quarter.
  • The company achieved a double-digit increase in net promoter score, indicating improved customer satisfaction.
  • JetBlue Airways Corp (JBLU) raised over $3 billion in debt to retire existing debt and fund future capital expenditures, providing financial stability.
  • The company's premium offerings, including Even More Space and Mint, continue to perform well, indicating strong demand for premium services.
  • JetBlue Airways Corp (JBLU) has realized $275 million of the $300 million revenue target set for 2024, showing progress in revenue initiatives.
Negative
  • JetBlue Airways Corp (JBLU) faces challenges with Pratt & Whitney aircraft on the ground, impacting long-term capacity planning.
  • The company expects a temporary increase in unit costs in the fourth quarter due to various transitory factors, including maintenance expenses and contractual wage rate step-ups.
  • JetBlue Airways Corp (JBLU) experienced disruptions from hurricanes Helene and Milton, affecting travel and forward bookings.
  • The company is dealing with competitive capacity pressures in its markets, impacting revenue performance.
  • JetBlue Airways Corp (JBLU) is not yet profitable, with an adjusted operating loss of $11 million in the third quarter, despite improvements.
Operator

Good morning. My name is Britney, and I would like to welcome everyone to the JetBlue Airways third-quarter 2024 earnings conference call. As a reminder, today's call is being recorded. (Operator Instructions)

I would now like to turn the call over to JetBlue's Director of Investor Relations, Koosh Patel. Please go ahead, sir.

Koosh Patel
JetBlue Airways Corp - Director, Investor Relations

Thanks, Britney. Good morning, everyone and thanks for joining our third-quarter 2024 earnings call. This morning, we issued our earnings release and a presentation that we will reference during this call. All of those documents are available on our website at ir.jetblue.com and on the SEC's website at www.sec.gov. In New York to discuss our results are Joanna Geraghty, our Chief Executive Officer; Marty St. George, our President; and Ursula Hurley, Chief Financial Officer.

During today's call, we'll make forward-looking statements within the meaning of the Safe Harbor provisions of the Private

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