| JetBlue Trims Profit Forecast in Aftermath of Storms (Update2)
March 21 (Bloomberg) -- JetBlue Airways Corp., buffeted by winter storms that disrupted 1,600 flights in two consecutive months and cut into revenue, trimmed its full-year profit forecast today. Operating profit will be 7 percent to 9 percent of revenue, down from an earlier forecast of 8 percent to 10 percent, and its pretax margin will be 2 percent to 4 percent, down from 3 percent to 5 percent, the New York-based carrier said. JetBlue, the biggest carrier at New York's John F. Kennedy International Airport, has named new executives to oversee operations there and changed procedures to avoid a repeat of the customer-service meltdown from the first storm that drew national attention. ``We see it as positive that JetBlue is reiterating a profit forecast despite recent weather troubles,'' James Corridore, a Standard & Poor's analyst in New York, said in a report today.
JetBlue cuts full-year margin outlook
Low-cost carrier JetBlue Airways Corp., which has struggled with weather-related cancellations this quarter, on Wednesday lowered its 2007 profit outlook. The Forest Hills, N.Y.-based airline said it now expects a pre-tax margin range of 2 percent to 4 percent, down from a previous forecast of between 3 percent and 5 percent. Jet Blue also lowered its forecast for full-year operating margin to a range of 7 percent to 9 percent from between 8 percent and 10 percent, previously. The airline maintained its outlook for a first-quarter loss, with operating margin still expected at negative 2 percent to 4 percent. An ice storm in the Northeast forced the company to cancel more than 1,000 flights in February, and storms caused additional cancellations last week. Operating margin measures operating income as a percentage of revenue.
US to deploy combat aviation unit to Iraq ahead of schedule
Washington, March 18. (AP): The Army says around 2,600 soldiers from a combat aviation unit will go to Iraq ahead of schedule, part of the support troops the Defense Department says are needed. With their assault and transport helicopters, the extra brigade can help with attack and reconnaissance missions, air assaults and raids and medical evacuations in support of combat troops already flowing in for the President George W Bush's buildup of forces in Baghdad and Iraq's western Anbar province. The Army's 3rd Infantry Division combat aviation brigade will go to Iraq 45 days earlier than planned, the Army said in a statement. That means the troops, the 3rd Combat Aviation Brigade, will go at the beginning of May. Officials said Gen. David Petraeus, the new US commander in Iraq, requested the air support, and he wanted the buildup to move as quickly as possible.
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