JetBlue Airways targeting single digit capacity growth, adjusting to higher oil prices

    JetBlue Airways EVP of commercial and planning Marty St George stated (24-Jul-2018) the airline continues to target a mid to high single digit capacity growth, as it takes a number of actions to adjust to higher oil prices. JetBlue is updating its 2018 capacity guidance, including a two point reduction to its 4Q2018 growth that will run through its schedules over the next few days. The airline reported a fuel price of USD2.28 per gallon in 2Q2018, a 41.7% year-on-year increase. JetBlue entered into forward fuel derivative contracts to hedge approximately 7.4% of its fuel consumption during 3Q2018. The airline expects an average price per gallon of fuel of USD2.33 in 3Q2018. JetBlue also hedged approximately 7.5% of 4Q2018. [more – original PR]