JetBlue Airways Corporation (NASDAQ:JBLU) shares edged higher in pre-market trade on Tuesday after the low-cost carrier revealed the impact from the recent hurricanes would be less than previously thought.
Hurricanes Irma and Maria battered the Caribbean and parts of the east coast of the United States back in September and October.
At the time, JetBlue said it expected the storms to negatively impact fourth quarter results by between 1-2%, but it now reckons the effect will be closer to 0.5%.
As a result, the airline upped its revenue per available seat mile growth range – an important industry metric – to between -0.5% and +1.5% compared with the same period last year.
That compares with the previous growth range of between -3% and 0%.
In a separate part of Tuesday Morning’s announcement, JetBlue said its load factor – how full a plane is – in November fell to 84.2% from 85.4% a year ago, as a 4.3% increase in capacity outpaced a 2.8% rise in traffic.
In pre-market trade on Tuesday, shares rose 1.8% to US$22.58.