JetBlue sees Q4 revenue down 2%-5% vs. previous view of down 3%-7%

Sees Q4 ASMs down 4.5%-6.5% vs. previous view of down 4%-7%. Sees Q4 CASM ex-fuel 12.5%-14.5% vs. previous view 13%-15%. Booking performance for travel in November and December was higher than expectations immediately following the U.S. presidential election and as a result, the fourth quarter revenue headwind from the election is now estimated to be 0.5 points compared to the previous forecast of 1.0 point. Furthermore, improved close-in demand and strong operational performance over Thanksgiving week resulted in better revenue performance during the November holiday peak. For travel in December, in-quarter bookings have exceeded prior expectations in both peak and off-peak travel periods. JetBlue’s (JBLU) 2024 revenue initiatives are expected to exceed $300M of cumulative benefit in the fourth quarter, supported by preferred seating, the Blue Basic carry-on baggage policy change, and other initiatives.