JetBlue forecasts Q2 fuel costs of $4.26-$4.36 per gallon versus $4.13-$4.28 and raised PRASM growth to 9%-12% year-over-year from 7%-11%, aiming to recoup over 40% of higher fuel expenses. It trimmed Q2 capex guidance to $225 million, held non-fuel CASM growth at 3%-5%, and achieved a 99.8% completion factor.
JetBlue forecasts fuel costs of $4.26-$4.36 per gallon in Q2, up from $4.13-$4.28, reflecting a rise in Brent crude prices and extended closure of the Strait of Hormuz.
The airline lifted its PRASM growth projection to 9%-12% year-over-year, up from 7%-11%, and anticipates recapturing at least 40% of added fuel costs through pricing power and sustained travel demand.
Non-fuel CASM growth is guided at 3%-5%, while capital expenditures for Q2 were trimmed to $225 million from $275 million to preserve cash given cost pressures.
JetBlue recorded a 99.8% completion factor for the quarter to date and reported above-expectation results on routes previously served by Spirit Airlines following its shutdown.
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