JetBlue continues to limit its participation in the corporate travel market, but the third quarter nevertheless brought an increase in the sector's demand for the carrier with managed corporate travel yields up "high single digits" year over year, JetBlue president Marty St. George said during a Tuesday earnings call.
Though noting that "our total [managed business travel] sales team, I can count on two hands," St. George said that "I've been very, very happy with what we've seen on yields," especially given JetBlue's reduced presence in the sector.
JetBlue last year announced it would shift capacity away from corporate routes from New York's LaGuardia Airport and toward leisure routes. That process is continuing, executives said, and the carrier is targeting Fort Lauderdale for new capacity.
The carrier hasn't "seen any meaningful impact" from the ongoing U.S. government shutdown, CEO Joanna Geraghty said.
Meanwhile, St. George said JetBlue was "working on" introducing New Distribution Capability fare mechanisms so that it could offer continuously priced fares, but did not offer a firm debut date.
"No date to report yet, but it's very much on our radar," St. George said
JetBlue Q3 Metrics
JetBlue reported third-quarter passenger revenue of more than $2.1 billion, a 2.9 percent decrease year over year. Total revenue was more than $2.3 billion, representing a 1.8 percent decline.
The company's third-quarter net loss was $143 million, compared with a $60 million loss a year prior. Capacity increased 0.9 percent year over year, and the average fuel cost for the period was $2.49 per gallon.
JetBlue's fourth-quarter guidance projected capacity to be down 0.75 percent to up 2.25 percent year over year, and the average fuel price to be $2.33 to $2.48 per gallon. Full-year 2025 guidance projected capacity to be flat to down 2 percent compared with 2024.
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