JetBlue Q3 operating profit climbs to $152m

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New York-based JetBlue Airways has posted a 34.8% climb in operating profit to $152 million for the third quarter.

Operating revenues rose 10.4% to $1.44 billion for the three months ended 30 September, and operating expenses rose 8.1% to $1.29 billion.

The airline's third quarter net income grew to $71 million from $45 million in the same period a year ago.

Traffic at the airline rose 5.4% during the quarter and capacity increased 5.1%. The load factor rose 0.2 percentage points to 85%. The airline's passenger revenue per available seat mile rose 5.4% to 11.75 cents while cost per available seat mile (CASM) excluding fuel increased 5.3% to 7.03 cents.

In fourth quarter guidance, JetBlue expects CASM to be between negative 1% and positive 1% year-on-year. CASM excluding fuel and profit sharing is forecasted to be between negative 0.5% and positive 1.5%.

JetBlue expects capacity to grow by between 7% and 9% in the fourth quarter and to increase between 5.5% and 7.5% for the full year, it adds.