JetBlue Airways Revenue Outlook

(Reuters) – JetBlue Airways announced on Wednesday a smaller-than-expected decline in its 2024 revenue due to a rebound in domestic travel demand following the U.S. presidential election.

Shares of the carrier rose as much as 10% in morning trading.

JetBlue now expects annual revenue to decline between 3.5% and 4.5%, an improvement from the earlier projection of 4% to 5%.

Previously, the airline had anticipated a more significant drop in revenue amid moderating domestic travel demand leading up to the elections.

The New York-based airline noted that improved bookings closer to departure dates during Thanksgiving week helped boost revenue during the November holiday peak.

Additionally, bookings for December travel have surpassed previous expectations.

JetBlue also adjusted its forecast for 2024 revenue per available seat mile, which reflects pricing power, now expecting a drop of 3% to 4%, compared to the earlier estimate of 2.5% to 4.5% decline.