After of traffic growth in Mar 2013, JetBlue Airways (JBLU) experienced another month of rising traffic across its network. For the month of Apr 2013, the carrier reported airline traffic – measured in revenue passenger miles or RPMs, of 2.99 billion, up 4.7% year over year. Consolidated capacity (or available seat miles/ASMs) was also up 6.5% year over year at 3.58 billion.
The load factor or percentage of seats filled by passengers was 83.7%, down 150 basis points. Passenger revenue per available seat mile (:PRASM) also decreased 9.0% year over year. The company registered a completion factor of 99.2%, with on-time performance of 71.8%.
For the four-month period ended Apr 2013, JetBlue Airways generated RPMs of 11.50 (up 6.8% year over year) and ASMs of 13.72 billion (up 6.4% year over year), on a consolidated basis. Load factor was 83.8%, reflecting an improvement of 30 basis points from the corresponding prior-year month.
JetBlue Airways is in constant endeavor to expand and broaden its operating base. Last week, the company added a new city – Worcester, MA – to its growing perimeter. Starting Nov 7, the company will fly daily jets from Worcester to Fort Lauderdale and Orlando.
The company also announced plans to reach its 49th destination from the Logan International Airport, Boston. The airline will bring its plan into effect by operating two daily flights from Logan Airport to Houston's William P. Hobby Airport, starting Jul 25.
Currently, JetBlue Airways operates over 100 daily flights from Logan to destinations spanning the U.S., Caribbean and Latin America. Management targets to increase the number of flights to 150 in the next two years.
JetBlue Airways will also be the recipient of the first ever US-assembled jets from Airbus. The low cost airline will receive the deliveries of the aircraft from the new assembling facility, which is expected to roll out its first fleet of the US-assembled jets by 2016.
Supported by well-designed interiors, high-value services and superior on-board entertainment options, JetBlue Airways aims to hold a strong position within the industry amid big players such as Delta Air Lines Inc. (DAL) and United Continental Holdings Inc. (UAL) as well as the popular low fare airline Southwest Airlines Co. (LUV) .
JetBlue Airways currently carries a Zacks Rank #3 (Hold).Read the Full Research Report on JBLU
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