JetBlue Says Sandy Cut October Revenue by $20 Million

NEW YORK (AP) -- JetBlue (NASDAQ: JBLU  ) said Thursday that Superstorm Sandy cut its October revenue by about $20 million, as the New York airline canceled 1,700 flights.

JetBlue expects a similar impact in November because demand was slow to pick up again after the storm. That would put the total revenue impact between $40 million and $45 million.

That will likely account for about 5 percent of its total revenue for the fourth quarter. Its revenue in last year's fourth quarter was $940 million.

United (NYSE: UAL  ) , the world's largest airline, said the storm cut its revenue in October by $90 million. Delta (NYSE: DAL  ) said it lost $45 million in revenue last month. Neither has released November estimates. But both airlines are significantly larger than JetBlue and will have a smaller overall impact from the storm.

Sandy hit JetBlue the hardest because its business is heavily focused in the Northeast. It's the largest airline at New York's JFK airport.

JetBlue estimates the storm cut operating income in each month by about $25 million to $30 million.


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