Issue Overview
During the first half of 2015, no U.S. airline enjoyed stronger y/y RASM trends than JetBlue. And sure enough again last week, the New York-based LCC reported a 1% rise in passenger unit revenue for the month of September despite 13% ASM capacity growth and even as rival carriers report rather sharp RASM declines on less capacity growth. Also last month, JetBlue said to expect PRASM for the full third quarter to be more or less flat y/y, a forecast even more bullish than that of Southwest, whose own expectation of a 1% Q3 RASM decline was itself rather cheerful—Delta…
