JetBlue Airways Corp. said Tuesday it generated its first third-quarter profit in two years as capacity and occupancy grew. But it also decided to leave two markets.
Net income for the three months ended Sept. 30 rose to $23 million (EUR16.24 million), or 12 cents per share. The low-cost airline broke even during the same period last year.
Revenue for the quarter increased to $765 million (5EUR40 million), up from $628 million a year earlier. The airline said load factor, a measure of occupancy, grew 1.6 percentage points over the year-earlier period, while capacity jumped 10.9 percent.
Analysts surveyed by Thomson Financial forecast earnings of 7 cents per share on revenue of $767.4 million (EUR541.7 million), on average.
The carrier said it expects to report an operating margin of 3 to 5 percent in the fourth quarter, and between 5 to 7 percent for the full year. Capacity is expected to grow 10 to 12 percent in the fourth quarter, and 11 to 13 percent for the year.
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