Shares of JetBlue Airways Corp. JBLU were rising about 2% in premarket trading Tuesday after the airline increased various aspects of its first-quarter outlook. The company now anticipates 8% to 9% growth in available seat miles relative to a year before, whereas its prior forecast was for 5.5% to 8.5% growth. JetBlue also now anticipates 32% to 35% revenue growth for the quarter, versus the 28% to 32% growth that management previously forecasted. “JetBlue continues to experience robust travel demand trends, which strengthened into Presidents’ Day weekend and beyond. The Company is seeing very strong demand in our core leisure and visiting friends and relatives (VFR) markets,” the company disclosed in a filing with the Securities and Exchange Commission. However, JetBlue’s “[s]trong performance on revenue and execution on costs are largely being offset by an increase in fuel prices, which is primarily driven by volatility in regional jet fuel prices,” the company continued. The company currently estimates that fuel price per gallon, net of hedges, will be $3.50 to $3.60 for the first quarter. JetBlue previously was forecasting $3.20 to $3.35. The company is keeping its first-quarter projection for 35 cents to 45 cents a share in losses intact.
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