While forecasting a narrower loss, JetBlue expects its annual revenue growth to rise, adjusting a 3% to 5% annual revenue growth forecast to a range of 4% to 5%. This comes as the U.S. carrier finds itself in the midst of a legal dispute with Spirit Airlines.

“Since late October, close-in bookings have outperformed expectations for both holiday peak and non-holiday travel periods,” JetBlue remarked in a regulatory filing on Thursday, justifying the narrower loss forecast.

U.S. airlines at large are expecting travel demand to remain resilient going into next year, dismissing concerns over potential demand vulnerability stemming from the impact of rising interest rates and rising prices on customers’ spending power.

The post JetBlue Stock Jumps Following Adjusted Forecast appeared first on theprimarymarket.com.

A summary of a Friday press conference on the website of CAAC News revealed the winter and spring season flight plan, with 96,651 domestic flights having been scheduled per week. Since the same period last year, 7,202 new weekly flights have been introduced following the opening of 516 new domestic routes.

While international flights to and from China are slower to rise, they are also on an upward trajectory. Weekly direct flights between China and the United States are expected to rise by 48 to 70.

The post Flights in China Expected to Surge Past Pre-Pandemic Levels appeared first on theprimarymarket.com.

Virgin Australia reported a statutory net profit after tax for the full year ended June 30, 2023, of A$129 million ($82.93 million). Last year, the airline suffered a loss of A$565.5 million.

Bain Capital, the owner of Virgin Australia, is looking to list Virgin on the Australian Securities Exchange next month, targeting an A$1 billion valuation. This comes after the company purchased Virgin Australia for A$3.5 billion including liabilities in 2020 after the airline was placed in voluntary administration.

The post Virgin Australia Gains First Profit in 11 Years on Travel Boom appeared first on theprimarymarket.com.

The company’s profit for Q3 stood at  $1.07 billion, or 79 cents per share, vastly outperforming its loss of $770 million, or 65 cents per share during the same quarter in 2022. Still, higher fuel costs have led the cruise ship company to forecast a wider-than-expected loss of $130 million during the fourth quarter. Still, this financial hit is expected to be a temporary one, with the cruise industry looking strong from a long-term perspective.

“Fear around inflation, shrinking consumer savings, student loan repayments, and other spending issues have bogged down shares recently, but should prove to be transient,” Morningstar research analyst Jaime Katz observed. “All signals indicate cruising is resonating with consumers.”

The post Carnival Raises Annual Forecast Following Third Quarter Profit appeared first on theprimarymarket.com.

With the company’s analysts set to meet later on Wednesday, Marriott claimed that its adjusted earnings per share could rise between 25% and 29% in 2023 from the previous year. Two-year annualized growth of 10% to 15% is expected leading up to 2025. Total gross fee revenue could increase between 16% and 18% in 2023, while the two-year annualized growth rate is projected to be between 6.5% and 9.5%.

International travel has been on a constant recovery since the easing of pandemic restrictions. Flexible work arrangements have also been sustained since the pandemic, meaning that more tourists have the flexibility to travel, even if they work some of the time while abroad.

The post Marriott Projects Revenue Growth Amid Resilient Travel Demand appeared first on theprimarymarket.com.

“Our gaming revenues are up but relatively flat,” MGM Chief Executive Officer Bill Hornbuckle revealed, explaining that experiences are what consumers are focused on. “There’s just this appetite for experience at a higher level that people seem to be prepared to pay for.” The Formula One Grand Prix in Las Vegas is one experience that has drawn in new visitors.

Mastercard’s Travel Industry Trends 2023 report showed that total spending on vacation experiences such as restaurants, amusement parks, and nightclubs globally surged by 65% in March 2023. Spending on material goods such as cosmetics, jewelry, and electronics rose by only 12%.

The post MGM Resorts International, Other Hotels Introduce Packages to Lure Travellers appeared first on theprimarymarket.com.

Last Wednesday, representatives from Wheels Up revealed that the company is doubtful of its ability to continue operations despite securing short-term funding from major U.S. carrier Delta Airlines. The Atlanta, Georgia-based airline revealed that its capital infusion in Wheels Up came in the form of a secured promissory note. Neither company disclosed the funding amount.

In addition to securing funding from Delta, Bain Capital, and MSD Capital, Wheels Up has implemented several cost-cutting measures in an effort to improve its financial situation. These include management changes, job cuts, and changes to private jet traffic, which soared during the pandemic and have since dropped in demand.

The post Wheels Up in Talks With Lenders Amid Cash Crunch appeared first on theprimarymarket.com.

With JetBlue in the process of acquiring Spirit Airlines, this low-cost airline and American Airlines began to wind down their Northeast Alliance on July 21 following a judge’s order that stemmed from competition concerns.

On Tuesday, JetBlue stated that its new full-year outlook reflects “a greater than expected shift of pent-up COVID demand to long-haul international markets which is pressuring demand for domestic travel during the peak summer travel period.”

Adjusted net income for the second quarter was $152 million, or 45 cents per share, far outpacing the loss of $153 million, or 47 cents per share posted a year earlier.

The post JetBlue Cuts Profit Forecast After American Airlines Deal Ends appeared first on theprimarymarket.com.

Chief Executive Tufan Erginbilgic stated that the company has made significant progress this year, referring to its rise in military spending and the recovery of its long-haul flying business. The company also underwent several operational improvements.

Now, the company expects to achieve a profit this year between 1.2 billion and 1.4 billion pounds ($1.6-1.8 billion). Its previous expectation was in the range of 800 million and 1 billion pounds.

“Despite a challenging external environment, notably supply chain constraints, we are starting to see the early impact of our transformation in all our divisions,” Erginbilgic commented on Wednesday.

The post Rolls-Royce Shares Jump as Company Raises Full-Year Forecast appeared first on theprimarymarket.com.

Airbus boosted its deliveries from 297 aircraft during the first six months of 2022. This year, the company is aiming to make a total of 720 deliveries

The performance of the aviation company is even more impressive considering that aerospace deliveries at large have been affected by supply chain issues while labor shortages stemming from the Covid pandemic persist.

Chief Commercial Officer Christian Scherer stated in June that while industry-wide issues continue to pose an obstacle, Airbus is beginning to experience a more “predictable” pattern in industrial economic conditions.

Airbus is set to report its first-half financial results on July 26.

The post Airbus First Half Deliveries Rise appeared first on theprimarymarket.com.

While forecasting a narrower loss, JetBlue expects its annual revenue growth to rise, adjusting a 3% to 5% annual revenue growth forecast to a range of 4% to 5%. This comes as the U.S. carrier finds itself in the midst of a legal dispute with Spirit Airlines.

“Since late October, close-in bookings have outperformed expectations for both holiday peak and non-holiday travel periods,” JetBlue remarked in a regulatory filing on Thursday, justifying the narrower loss forecast.

U.S. airlines at large are expecting travel demand to remain resilient going into next year, dismissing concerns over potential demand vulnerability stemming from the impact of rising interest rates and rising prices on customers’ spending power.

The post JetBlue Stock Jumps Following Adjusted Forecast appeared first on theprimarymarket.com.

A summary of a Friday press conference on the website of CAAC News revealed the winter and spring season flight plan, with 96,651 domestic flights having been scheduled per week. Since the same period last year, 7,202 new weekly flights have been introduced following the opening of 516 new domestic routes.

While international flights to and from China are slower to rise, they are also on an upward trajectory. Weekly direct flights between China and the United States are expected to rise by 48 to 70.

The post Flights in China Expected to Surge Past Pre-Pandemic Levels appeared first on theprimarymarket.com.

Virgin Australia reported a statutory net profit after tax for the full year ended June 30, 2023, of A$129 million ($82.93 million). Last year, the airline suffered a loss of A$565.5 million.

Bain Capital, the owner of Virgin Australia, is looking to list Virgin on the Australian Securities Exchange next month, targeting an A$1 billion valuation. This comes after the company purchased Virgin Australia for A$3.5 billion including liabilities in 2020 after the airline was placed in voluntary administration.

The post Virgin Australia Gains First Profit in 11 Years on Travel Boom appeared first on theprimarymarket.com.

The company’s profit for Q3 stood at  $1.07 billion, or 79 cents per share, vastly outperforming its loss of $770 million, or 65 cents per share during the same quarter in 2022. Still, higher fuel costs have led the cruise ship company to forecast a wider-than-expected loss of $130 million during the fourth quarter. Still, this financial hit is expected to be a temporary one, with the cruise industry looking strong from a long-term perspective.

“Fear around inflation, shrinking consumer savings, student loan repayments, and other spending issues have bogged down shares recently, but should prove to be transient,” Morningstar research analyst Jaime Katz observed. “All signals indicate cruising is resonating with consumers.”

The post Carnival Raises Annual Forecast Following Third Quarter Profit appeared first on theprimarymarket.com.

With the company’s analysts set to meet later on Wednesday, Marriott claimed that its adjusted earnings per share could rise between 25% and 29% in 2023 from the previous year. Two-year annualized growth of 10% to 15% is expected leading up to 2025. Total gross fee revenue could increase between 16% and 18% in 2023, while the two-year annualized growth rate is projected to be between 6.5% and 9.5%.

International travel has been on a constant recovery since the easing of pandemic restrictions. Flexible work arrangements have also been sustained since the pandemic, meaning that more tourists have the flexibility to travel, even if they work some of the time while abroad.

The post Marriott Projects Revenue Growth Amid Resilient Travel Demand appeared first on theprimarymarket.com.

“Our gaming revenues are up but relatively flat,” MGM Chief Executive Officer Bill Hornbuckle revealed, explaining that experiences are what consumers are focused on. “There’s just this appetite for experience at a higher level that people seem to be prepared to pay for.” The Formula One Grand Prix in Las Vegas is one experience that has drawn in new visitors.

Mastercard’s Travel Industry Trends 2023 report showed that total spending on vacation experiences such as restaurants, amusement parks, and nightclubs globally surged by 65% in March 2023. Spending on material goods such as cosmetics, jewelry, and electronics rose by only 12%.

The post MGM Resorts International, Other Hotels Introduce Packages to Lure Travellers appeared first on theprimarymarket.com.

Last Wednesday, representatives from Wheels Up revealed that the company is doubtful of its ability to continue operations despite securing short-term funding from major U.S. carrier Delta Airlines. The Atlanta, Georgia-based airline revealed that its capital infusion in Wheels Up came in the form of a secured promissory note. Neither company disclosed the funding amount.

In addition to securing funding from Delta, Bain Capital, and MSD Capital, Wheels Up has implemented several cost-cutting measures in an effort to improve its financial situation. These include management changes, job cuts, and changes to private jet traffic, which soared during the pandemic and have since dropped in demand.

The post Wheels Up in Talks With Lenders Amid Cash Crunch appeared first on theprimarymarket.com.

With JetBlue in the process of acquiring Spirit Airlines, this low-cost airline and American Airlines began to wind down their Northeast Alliance on July 21 following a judge’s order that stemmed from competition concerns.

On Tuesday, JetBlue stated that its new full-year outlook reflects “a greater than expected shift of pent-up COVID demand to long-haul international markets which is pressuring demand for domestic travel during the peak summer travel period.”

Adjusted net income for the second quarter was $152 million, or 45 cents per share, far outpacing the loss of $153 million, or 47 cents per share posted a year earlier.

The post JetBlue Cuts Profit Forecast After American Airlines Deal Ends appeared first on theprimarymarket.com.

Chief Executive Tufan Erginbilgic stated that the company has made significant progress this year, referring to its rise in military spending and the recovery of its long-haul flying business. The company also underwent several operational improvements.

Now, the company expects to achieve a profit this year between 1.2 billion and 1.4 billion pounds ($1.6-1.8 billion). Its previous expectation was in the range of 800 million and 1 billion pounds.

“Despite a challenging external environment, notably supply chain constraints, we are starting to see the early impact of our transformation in all our divisions,” Erginbilgic commented on Wednesday.

The post Rolls-Royce Shares Jump as Company Raises Full-Year Forecast appeared first on theprimarymarket.com.

Airbus boosted its deliveries from 297 aircraft during the first six months of 2022. This year, the company is aiming to make a total of 720 deliveries

The performance of the aviation company is even more impressive considering that aerospace deliveries at large have been affected by supply chain issues while labor shortages stemming from the Covid pandemic persist.

Chief Commercial Officer Christian Scherer stated in June that while industry-wide issues continue to pose an obstacle, Airbus is beginning to experience a more “predictable” pattern in industrial economic conditions.

Airbus is set to report its first-half financial results on July 26.

The post Airbus First Half Deliveries Rise appeared first on theprimarymarket.com.