JetBlue raises revenue per ASM outlook, as it still sees ‘robust’ travel demand

JetBlue Airways Corp. JBLU, -1.67% said Friday that it is seeing “strong demand” extend beyond the summer peak, with “robust” demand for travel in September and beyond. The air carrier raised its third-quarter guidance for growth in revenue per available seat mile (RASM), compared with pre-pandemic 2019, to $22% to 24% from 19% to 23%. The company also revised its outlook for third-quarter ASM, or capacity, to down 0.5% to up 0.5% from down 3% to flat. JetBlue also raised its estimate for fuel price per gallon to $3.86 from $3.68, but maintained its forecast for cost per ASM excluding fuel versus 2019 at 15% to 17%. JetBlue’s stock fell 1.6% in premarket trading, while the U.S. Global Jets ETF JETS, -3.70% shed 1.1% ahead of the open and futures ES00, -1.35% for the S&P 500 SPX, -1.34% slid 0.8%.