JetBlue Posts $257 Million Third-Quarter Loss as Fuel Bill Jumps 61%

JetBlue Airways posted a $257 million net loss for the third quarter as its fuel bill climbed 61%, even as average fares rose and revenue came in close to analyst expectations. The loss for the three months ended Sept. 30 compared with $143 million a year earlier. Fuel expense reached $868 million, and revenue was $2.81 billion, just below the $2.82 billion analysts expected. JetBlue’s adjusted loss was 60 cents per share, versus an expected loss of 55 cents. Average fares rose more than 19% to $245.11 from $205.67 in the year-earlier quarter. CEO Joanna Geraghty credited resilient demand and strong yields with taking revenue above JetBlue’s initial expectation, allowing the airline to recapture more of the fuel-cost increase than anticipated. Geraghty said the momentum continued into the fourth quarter.

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