Close on the heels of its last week’s announcement of two new non-stop flights from Fort Lauderdale-Hollywood International Airport, JetBlue Airways Corporation (JBLU) has added twice-daily non-stop flights between Fort Lauderdale-Hollywood International Airport and Jacksonville International Airport. The company aims to launch the new flights from Oct 29, 2014. We believe the new addition to JetBlue’s operationswill beaccretive to its revenues and support its long-term growth goals.
With a low cost structure, the carrier continues to successfully expand its network footprint in major growth regions – Boston, Fort Lauderdale, the Caribbean and Latin America. Going forward, JetBlue expects to add new routes from Boston and aims at operating 150 flights per day from the region. Short haul routes from Boston continue to reap benefits from efforts to reduce seasonality of network and improved corporate travel demand. Recently, JetBlue also flagged off its daily service between Detroit and Boston.
The Latin American and Caribbean markets comprise almost one-third of the company’s total network. The carrier serves 24 locations in the region. JetBlue is also banking heavily on the new services offered from Fort Lauderdale to different locations in the Caribbean and Latin America.
To support this growth momentum, the carrier has also introduced a new daily service to Port-of-Spain from New York. We believe addition of such meaningful new routes will enhance JetBlue’s growth and strengthen its network against other group members going forward.
JetBlue currently has a Zacks Rank #3 (Hold).
Other Stocks to Consider
Some Zacks Rank #1 (Strong Buy) stocks worth considering in this sector include American Airlines Group Inc. (AAL), Era Group Inc. (ERA) and Delta Air Lines Inc. (DAL).
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