JetBlue Dec. load factor 81.4% vs. 82.7% a year ago

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JetBlue tops profit expectations, matches on revenue

JetBlue Airways Corp. reported Tuesday third-quarter net income that fell to $50 million, or 16 cents a share, from $181 million, or 55 cents a share, in the same period a year ago. Excluding non-recurring items, such as fleet transition costs and a pilots contract, adjusted earnings per share came to 43 cents, above the FactSet consensus of 42 cents. Total revenue rose to $2.01 billion from $1.82 billion, matching the FactSet consensus. Revenue per available seat mile (RASM) increased 1.7%, while operating expenses excluding fuel rose 3.2%. For the fourth quarter, the air carrier expects capacity to rise 7.5% to 9.5%, RASM growth of 1% to 4% and operating expenses ex-fuel to fall 3.5% to 1.5%. The stock, which was still inactive in premarket trade, has lot 16.4% over the past three months, while the NYSE Arca Airline Index has declined 6.9% and the S&P 500 has slipped 1.8%.

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