UPDATE 1-JetBlue flags higher fuel costs, benefits from Spirit shutdown

Jetblue Airways
Spirit Aviation Holdings, Inc.

Jetblue Airways

JBLU

0.00

Spirit Aviation Holdings, Inc.

FLYYQ

0.00

Adds details from JetBlue's filing throughout

- U.S. carrier JetBlue JBLU.O raised its second-quarter fuel costs forecast on Monday as the global aviation industry grapples with rising jet fuel prices amid disruptions from the closure of the Strait of Hormuz.

The airline now expects fuel to cost $4.26 to $4.36 per gallon in the second quarter, compared to an earlier forecast between $4.13 and $4.28.

However, JetBlue said it expects to "recapture 40% or more of increased fuel costs in the quarter," helped by consistent operational performance.

The airline raised its forecast for revenue growth per available seat mile to between 9% and 12%, versus the 7% to 11% range forecast earlier.

It has also reported "outperformance" in routes previously operated by Spirit Airlines after the distressed carrier shut down last month.

"Although it remains early in the third quarter booking curve, we are encouraged current trends may carry-forward," JetBlue said in a regulatory filing.