Leading passenger airline JetBlue Airways Corporation (JBLU) has displayed steady traffic growth in Oct 2014. The carrier reported airline traffic – measured in revenue passenger miles or RPMs – of 3 billion, up 10.4% year over year, representing the ninth consecutive month of traffic growth post a dip in numbers in Jan 2014.
Consolidated capacity (or available seat miles/ASMs) was also up 7.6% year over year at 3.59 billion. The load factor or percentage of seats filled by passengers was 83.5%, up 210 basis points. Passenger revenue per available seat mile (PRASM) increased 2% year over year. Notably, the company registered a completion factor of 99.6%, with on-time performance of 83.7%.
Through the first ten months of this year, JetBlue has generated RPMs of 31.42 billion (up 5.1% year over year) and ASMs of 37.15 billion (up 4.7%). Load factor improved to 84.6% from the year-ago figure of 84.3%. We expect the carrier to deliver healthy traffic growth in the coming months as well.
In a separate development, the passenger carrier recently launched a new daily nonstop service from Salt Lake City International Airport to Orlando International Airport in a bid to expand its reach further and augment the flying experience for its customers. The launch, which marks the third nonstop service offered by JetBlue out of Salt Lake City, will help expedite connections to the Caribbean and Latin America.
JetBlue passengers availing this new route will enjoy multiple benefits that promise to make their flying experience a memorable one. Such offerings include unlimited free snacks and non-alcoholic drinks, among others.
Zacks Rank
JetBlue Airways presently carries a Zacks Rank #2 (Buy). Better-ranked stocks in the airline space include Spirit Airlines (SAVE), Southwest Airlines (LUV) and Republic Airways Holdings (RJET). All three stocks sport a Zacks Rank #1 (Strong Buy).
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