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Business Recorder
29-04-2025
- Business
- Business Recorder
JetBlue withdraws annual forecast over demand uncertainty
JetBlue Airways pulled its 2025 forecast on Tuesday, as macroeconomic uncertainties stemming from U.S. President Donald Trump's sweeping tariffs have made it difficult to predict travel demand. Trump's tariffs have sparked a global trade war and raised the odds of the world spiraling into recession, creating headwinds for major U.S. airlines which were benefiting from strong travel demand and solid pricing across their networks just two months ago. 'As we continue to monitor the evolving macro backdrop, we are evaluating all levers available to us to boost profitability and preserve cash, including additional capacity reductions, targeted cost savings and further evaluation of our fleet retirement schedule,' JetBlue CEO Joanna Geraghty said. The airline reported a smaller-than-expected adjusted loss of 59 cents per share for quarter ended March 31, compared with analysts' expectations of 61 cents according to data compiled by LSEG. As travel is mainly a discretionary expense for many consumers and businesses, growing economic concerns have clouded the airline industry's outlook. JetBlue expects second-quarter revenue per available seat mile, a proxy for pricing power, to fall between 3.5% and 7.5%. The New-York based airline is facing higher operating costs as ongoing inspections of RTX's Pratt & Whitney's Geared Turbofan engines have grounded a number of its aircraft. The airline has deferred deliveries of 44 new Airbus jets, cutting planned capital expenditures by approximately $3 billion between 2025 and 2029. Total first-quarter operating revenue fell 3.1% to $2.14 billion.
Yahoo
29-04-2025
- Business
- Yahoo
JetBlue withdraws annual forecast over demand uncertainty
(Reuters) -JetBlue Airways pulled its 2025 forecast on Tuesday, as macroeconomic uncertainties stemming from U.S. President Donald Trump's sweeping tariffs have made it difficult to predict travel demand. Trump's tariffs have sparked a global trade war and raised the odds of the world spiraling into recession, creating headwinds for major U.S. airlines which were benefiting from strong travel demand and solid pricing across their networks just two months ago. "As we continue to monitor the evolving macro backdrop, we are evaluating all levers available to us to boost profitability and preserve cash, including additional capacity reductions, targeted cost savings and further evaluation of our fleet retirement schedule," JetBlue CEO Joanna Geraghty said. The airline reported a smaller-than-expected adjusted loss of 59 cents per share for quarter ended March 31, compared with analysts' expectations of 61 cents according to data compiled by LSEG. As travel is mainly a discretionary expense for many consumers and businesses, growing economic concerns have clouded the airline industry's outlook. JetBlue expects second-quarter revenue per available seat mile, a proxy for pricing power, to fall between 3.5% and 7.5%. The New-York based airline is facing higher operating costs as ongoing inspections of RTX's Pratt & Whitney's Geared Turbofan engines have grounded a number of its aircraft. The airline has deferred deliveries of 44 new Airbus jets, cutting planned capital expenditures by approximately $3 billion between 2025 and 2029. Total first-quarter operating revenue fell 3.1% to $2.14 billion. Sign in to access your portfolio
Reuters
29-04-2025
- Business
- Reuters
JetBlue withdraws annual forecast over demand uncertainty
April 29 (Reuters) - JetBlue Airways (JBLU.O), opens new tab pulled its 2025 forecast on Tuesday, as macroeconomic uncertainties stemming from U.S. President Donald Trump's sweeping tariffs have made it difficult to predict travel demand. Trump's tariffs have sparked a global trade war and raised the odds of the world spiraling into recession, creating headwinds for major U.S. airlines which were benefiting from strong travel demand and solid pricing across their networks just two months ago. "As we continue to monitor the evolving macro backdrop, we are evaluating all levers available to us to boost profitability and preserve cash, including additional capacity reductions, targeted cost savings and further evaluation of our fleet retirement schedule," JetBlue CEO Joanna Geraghty said. The airline reported a smaller-than-expected adjusted loss of 59 cents per share for quarter ended March 31, compared with analysts' expectations of 61 cents according to data compiled by LSEG. As travel is mainly a discretionary expense for many consumers and businesses, growing economic concerns have clouded the airline industry's outlook. JetBlue expects second-quarter revenue per available seat mile, a proxy for pricing power, to fall between 3.5% and 7.5%. The New-York based airline is facing higher operating costs as ongoing inspections of RTX's (RTX.N), opens new tab Pratt & Whitney's Geared Turbofan engines have grounded a number of its aircraft. The airline has deferred deliveries of 44 new Airbus ( opens new tab jets, cutting planned capital expenditures by approximately $3 billion between 2025 and 2029. Total first-quarter operating revenue fell 3.1% to $2.14 billion.
Reuters
22-04-2025
- Business
- Reuters
RTX posts higher quarterly profit on strong demand for jet services
April 22 (Reuters) - RTX (RTX.N), opens new tab reported a higher first-quarter profit and reaffirmed its annual outlook on Tuesday, as strong demand for jet repair and maintenance services helped offset weaker sales in the company's defense unit. The aerospace and defense major has benefited from steady demand for parts and maintenance as airlines fly aging fleets amid jet production delays, even as broader market uncertainty grows due to U.S. President Donald Trump's trade war and ongoing supply chain challenges. Arlington, Virginia-based RTX reported total revenue of $20.31 billion for the quarter ended March 31, higher than the about $19.31 billion it posted a year ago. On an adjusted basis, it reported a per-share profit of $1.47 on net income of $1.99 billion for the quarter, compared with $1.34, or $1.79 billion last year. Collins Aerospace, RTX's aerospace and avionics arm, posted an 8% rise in revenue that touched $7.22 billion in the quarter, while the Pratt and Whitney unit, which makes engines for Airbus' ( opens new tab A320neo jets, saw sales rise 14%. Pratt is currently in the process of conducting an inspection drive for potentially flawed components in its Geared Turbofan (GTF) engines that has led to the grounding of hundreds of planes in recent months. Raytheon, RTX's defense unit, reported a 5% fall in sales year-over-year, primarily driven by the divestiture of its cybersecurity, intelligence and services business completed last year. Defense contractors, continuing to benefit from surging demand amid heightened geopolitical tensions, may also get a potential boost from Trump's review on military equipment export rules that he is seeking to ease. Some experts have suggested that a higher defense budget supports backlog at contractors, providing stability in revenues for key government programs.
Yahoo
22-04-2025
- Business
- Yahoo
RTX posts higher quarterly profit on strong demand for jet services
By Utkarsh Shetti and Mike Stone (Reuters) -RTX reported a higher first-quarter profit and reaffirmed its annual outlook on Tuesday, as strong demand for jet repair and maintenance services helped offset weaker sales in the company's defense unit. The aerospace and defense major has benefited from steady demand for parts and maintenance as airlines fly aging fleets amid jet production delays, even as broader market uncertainty grows due to U.S. President Donald Trump's trade war and ongoing supply chain challenges. Arlington, Virginia-based RTX reported total revenue of $20.31 billion for the quarter ended March 31, higher than the about $19.31 billion it posted a year ago. On an adjusted basis, it reported a per-share profit of $1.47 on net income of $1.99 billion for the quarter, compared with $1.34, or $1.79 billion last year. Collins Aerospace, RTX's aerospace and avionics arm, posted an 8% rise in revenue that touched $7.22 billion in the quarter, while the Pratt and Whitney unit, which makes engines for Airbus' A320neo jets, saw sales rise 14%. Pratt is currently in the process of conducting an inspection drive for potentially flawed components in its Geared Turbofan (GTF) engines that has led to the grounding of hundreds of planes in recent months. Raytheon, RTX's defense unit, reported a 5% fall in sales year-over-year, primarily driven by the divestiture of its cybersecurity, intelligence and services business completed last year. Defense contractors, continuing to benefit from surging demand amid heightened geopolitical tensions, may also get a potential boost from Trump's review on military equipment export rules that he is seeking to ease. Some experts have suggested that a higher defense budget supports backlog at contractors, providing stability in revenues for key government programs.
