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April 10, 2014
14:33 EDTJBLUJetBlue reports March traffic increase of 0.9% over last year
JetBlue Airways Corporation reported its preliminary traffic results for March. Traffic in March increased 0.9% from March 2013, on a capacity increase of 3.7%. Load factor for March was 84.8%, a decrease of 2.3 points from March 2013. JetBlue's preliminary completion factor was 98.0% and its on-time performance was 77.2%. JetBlue's preliminary passenger revenue per available seat mile for the month of March decreased 8% year over year. March PRASM was negatively impacted by the shift in the Easter and Passover holidays from March last year.
News For JBLU From The Last 14 Days
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February 24, 2015
15:54 EDTJBLUAmerican Express confirms end of partnership with JetBlue
American Express (AXP) confirmed in a regulatory filing that the company was unable to reach terms to renew its cobrand relationship with JetBlue (JBLU) recently. The Fly notes that Bloomberg first reported on February 13 that JetBlue was ending its agreement with American Express.
06:29 EDTJBLUCriticism grows against U.S. airline attempts to limit Gulf airlines, WSJ says
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February 23, 2015
16:17 EDTJBLUBuckeye Partners reduces FY14 revenue by $40M due to settlement discussions
Buckeye Partners (BPL) announced revisions to its financial results for Q4 and FY14 due to a recent development. As has been previously disclosed, commencing in September 2012, Delta Air Lines (DAL), JetBlue (JBLU), United/Continental Air Lines (UAL), US Airways, and American Airlines (AAL) filed complaints with the Federal Energy Regulatory Commission challenging rates for transportation of jet fuel from New Jersey to three New York City area airports charged by Buckeye Pipe Line Company, an operating subsidiary of Buckeye. The Airlines are seeking payments for alleged past excessive charges and prospective tariff rate reductions. As the litigation has progressed, BPLC and the Airlines have continued to pursue settlement discussions. Due to positive developments in those settlement discussions subsequent to Buckeye's issuance of its 2014 earnings on Friday, February 6, Buckeye has recorded a reduction in revenue in the amount of $40M for the year ended December 31, 2014 in accordance with applicable accounting guidance regarding contingencies. This reduction in revenue is a one-time charge; therefore, Adjusted EBITDA and distributable cash flow for 2014 remain as reported on February 6th. The $40M is based upon a settlement offer made by BPLC to satisfy the claims for alleged past excessive charges through December 31, 2014, which offer has not been accepted by the Airlines. "While we continue to pursue settlement of this matter, we are not able to predict with certainty the final outcome of the proceeding, should it be carried through to its conclusion, or whether we can reach a satisfactory settlement and, if so, whether or not it will be on more or less favorable terms," the company said.
February 19, 2015
09:59 EDTJBLUOn The Fly: Analyst Initiation Summary
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February 18, 2015
17:28 EDTJBLUJetBlue initiated with a Buy at BofA/Merrill
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05:15 EDTJBLUJetBlue says Lufthansa incentive order will have no impact on share count
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