JetBlue's stock swings higher after upbeat March data, raised outlook

Shares of JetBlue Airways Corp. swung to a gain of 0.6% in premarket trade Wednesday, after the air carrier reported March results that showed demand growth outpaced supply, and provided an upbeat first-quarter outlook. Before the announcement, the stock was down about 0.8%. The company said load factor rose to 89.

0% from 85.7% for the month, as traffic rose 7.3% to 4.38 billion revenue passenger miles and capacity grew 3.3% to 4.92 billion available seat miles. JetBlue lowered its first-quarter capacity growth outlook to 3.3% from a previous guidance range of 3.5% to 5.5%, while increasing its revenue per available seat mile estimate to 6.1% growth from a previous outlook for a 3.5% to 5.5% rise. JetBlue's stock had tumbled 13.3% year to date through Tuesday, while the NYSE Arca Airline Index had declined 2.9% and the S&P 500 had eased 0.6%.