JetBlue says 'on track' to hit 2018-2020 CASM CAGR goal of 0-1% growth
Says executing on plan to reach $2.50-$3.00 EPS by 2020. Says anticipates capacity growth slowing to lower end of mid-to-high single digit range. Says focusing on margin opportunities. Says on track to hit 2018-2020 CASM CAGR goal of 0-1% growth, Says realizing Structural Cost Program achievements in sourcing/contracts, productivity gains and tech deployments. Says network reallocation and ancillary "Building Blocks" ramping as expects. Says on track to deliver Fare Options 2.0 by year-end. Says 2019 holiday placement shifts 2.25 points of RASM from Q1 to Q2. Says Transcon showing signs of normalization; Florida to Caribbean markets continue to see elevated capacity. Says soft start to 2Q; April peak as expected. Says cautiously optimistic for RASM growth acceleration for May / June. Says anticipates 1H-2H 2019 improvement driven by cost control initiatives and ASM tailwind. Says exact timing of engine maintenance expected to impact quarterly progression. Says expecting progress during 2019 and 2020 to hit 0-1% CASM Ex-Fuel CAGR goal. Says expects full run rate benefits from Structural Cost Program by 2020. Says additional seats from restyle program expected to benefit unit costs. Says no aircraft deliveries in Q1, anticipates one A321 NEO in Q2. Expects a minimum of six A321 NEO deliveries in 2019. Says capex mainly focused on aircraft, cabin restyling program. Sees Q2 all-in fuel price $2.21/gallon. Sees Q2 capex aircraft $300M-350M, capex non-aircraft $30M-$45M, other income/expense ($11M)-($16M), JTP/JTV ($9M)-($13M). Sees FY19 capex aircraft $1.05B-$1.2B, capex non-aircraft $150M-$200M, other income/expense ($62M)-($72M), JTP/JTV ($40M)-($50M). Comments taken from presentation slides to be presented on Q1 earnings conference call.