Airline stocks are poised for upside growth heading into the final months of 2024, according to Bank of America. JetBlue Airways (JBLU) has recently lifted its forward guidance, citing decreased gas prices and increased July bookings after a challenging year involving the sale of $2.75 billion in debt. JetBlue Airways CEO Joanna Geraghty joins Catalysts from the Skift Global Forum to discuss the airline operator’s performance and some of its growth opportunities ahead. Geraghty explains that JetBlue has its sights set on getting back to profitability, and points to the launch of its Jet Forward program as a way to work toward that goal. She explains that the strategy focuses on "reliable and caring service, best East Coast leisure network products and perks customers love, and a secure financial future." She notes that many of JetBlue’s planes use Pratt & Whitney GTF engines, which are being investigated for potential issues. Geraghty calls Pratt & Whitney an "important business partner and an important part of JetBlue’s future," adding that JetBlue is currently working with the company to "ensure that we receive the right level of compensation to reflect the impact that this is having to our forward-looking capacity." As capacity remains a critical issue, she explains that JetBlue is seeing "positive improvements" in Latin America, which is largely a cyclical industry. She explains that the fall season is historically challenging, and highlights that the company has pulled nearly 10% of its capacity out of the fall to boost its performance Overall, she says, "the peaks and troughs post-COVID are definitely much more acute, and we’re taking a number of self-help measures to moderate some of that impact." Moving forward, Geraghty tells Yahoo Finance that JetBlue is focused on "flying to the places where our brand is strong and where we make the most money." She points to areas on the East Coast and expansions into Islip, New York, and Manchester, New Hampshire, while continuing to grow its presence in Boston and surrounding areas.
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