JetBlue Cuts 4Q Passenger Revenue Outlook

JetBlue (NASDAQ:JBLU) on Wednesday cut its fourth-quarter passenger revenue outlook, noting fewer travelers are purchasing last-minute tickets, sending its shares more than 5% lower.

The New York airline now sees passenger revenue per available seat mile up 10% to 13% in the thee-month period set to end at the end of December.

The new prediction is lower than its earlier view of a 12% to 15% gain.

Meanwhile, revenue per available seat mile is expected to increase in the range of 8% to 10%, down from its earlier guidance of 10% to 12% growth.

JetBlue CFO Ed Barnes said at an investor conference Wednesday that the company plans on doubling its number of partner airlines by the end of next year, adding between six and eight next year in New York and Boston, its largest markets.