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JetBlue Airways Tops Q2 Earnings & Revenue Estimates

Low-cost carrier, JetBlue Airways Corporation’s (JBLU - Free Report) second-quarter 2017 earnings (excluding special items) of 64 cents per share beat the Zacks Consensus Estimate by 8 cents, which pleased the investors.

Consequently, shares of the company rallied in early trading. Moreover, quarterly earnings improved 20.75% from the year-ago figure. Results were aided by higher revenues.

Operating revenues came in at $1,842 million, ahead of the Zacks Consensus Estimate of $1,822.1 million. Revenues improved 12.11% from the year-ago figure. Passenger revenues, which accounted for bulk of the top line (89.6%), improved 11% in the second quarter. Other revenues increased 22.8%.

Operating Statistics

Capacity, measured in available seat miles, expanded 4.8% year over year. Traffic, measured in revenue passenger miles, grew 5% in the second quarter. Load factor (percentage of seats filled by passengers) improved 20 basis points (bps) year over year to 85.2% in the reported quarter as...