And so making sure that we’re prepared to take full advantage of that with the slot portfolio that we do have here. It’s constrained that’s a good place to be, particularly when you’re a leisure carrier, and we’re looking forward to seeing New York fully return. But it will take a little while to get there. But on pace for probably, call it, 2024, 2025.
Catherine O’Brien: Okay. Got it. And then how should we think about the puts and takes between aircraft on the ground, increasing over the course of 2024 against aircraft deliveries. It sounds like we should stay tuned for official guidance. But just high level, is down slightly year-over-year in the first quarter? Is that the high watermark with declines getting deeper through year-end? Or just anything high level on where year-over-year capacity goes from 1Q? Thanks.
Ursula Hurley: Yes. So I think the first quarter is probably close to a representation. I mean, just to put a high level, right, we take 28 deliveries next year. We’re retiring 24 and then we’ve got grounded aircraft due to the GTF. So in the mid — the high single digits to low double digits. So that progresses throughout the year. So we start with six at the end of this year, and then that will end the year at low double digits. So I think that the first quarter is a fair representation. We are still working through our 2024 planning process. So we’ll obviously provide you more color on the next call.
Catherine O’Brien: Got it. Thanks for the time.
Operator: Your next question comes from Andrew Didora with Bank of America. Please go ahead.
Andrew Didora: Hi, good morning everyone. So Robin, just seems like a lot of the capacity hold down that you talked about on the call is coming from like external factors in the GTF slot extensions at JFK. Can you speak to maybe some of the more proactive capacity adjustments you’re making? What markets make the most sense for your product now? I know you’re looking at moving capacity to international markets, but what are the real structural changes you’re considering right now to kind of help the margin profile going forward?
Robin Hayes: I said I’m going to start and then hand over to Joanna and Dave. I mean we’ve actually been extremely proactive over the last couple of quarters in reallocating capacity. Clearly, we’ve seen the strength in international that others have seen. We just don’t have as much exposure to it. But I think we’ve got to be really thoughtful around what trends do we see into 2024. If everyone starts pulling domestic capacity, and that’s some of the commentary has been made, we could see a bounce back to domestic much more quickly than we think, and then you may have too much exposure to international. So the team is kind of constantly reallocating and moving things around. And we’re going to continue to do that.
I think the other thing that’s going on with our fleet renewal is that with the 220, there’s a broader set of markets that would work compared to 190. The 190 historically had some range considerations and the 220 remove that as well. And so that also creates the opportunity of redeploying outside some of the shorter, more business markets that have sort of been really served by the 190 into sort of more leisure-focused markets as well. So I don’t know if you, I don’t know, Joanna or Dave, you want to sort of…
Joanna Geraghty: Yes. Maybe I’ll just add on the leisure front. I mean, I think as you look at JetBlue overall, knowing that this is our core bread and butter and what we were built for. We’ve got the point-to-point network. We have the product offering that covers an array of customers who want different things from a more basic unbundled product to a premium product and then our strength as we see it growing sort of the premium sector. And then you look at that overlaid with being in these constrained environments, whether it’s Boston with gate constraints, or JFK, Newark in places like that. We’ve got a network over the long term that should perform very well in these leisure markets and a product that also perform as well.
And then you wrap that with loyalty and just with travel products creating that leisure ecosystem, over time, we expect it to produce some nice results. We’re just in a more challenging environment right now as we navigate through this quarter into next year with some of these external headwinds facing us around engines and excess capacity in some of the leisure markets.
Andrew Didora: Okay. And then just as a follow-up, I know you mentioned corporate travel has improved, and sorry if I missed this, but can you quantify that quantify the corporate travel improvement? And is this more of a New York comment? Or are you seeing it more broadly across your network? Thank you.
Dave Clark: Sure. This is Dave. So corporate travel has had a very nice step up since Labor Day. We’ll admit it had sort of softened over the summer and appear to be a seasonal thing that happened at beginning of the summer and then it bounces back to the end. But if you look at, say, since COVID, if you look at our best 7 booking weeks since COVID started 3 to 4 years ago, 6 of them in the past 2 months. So we’ve seen a real nice pickup here. I mean in terms of personal recovered, we’re still sort of 80% or low 80s, but we are seeing that sequential improvement also seeing some areas like media and entertainment, which has seen some softness over the summer with strikes picked back up in the fall. So feel good about how we’re progressing on the corporate side, but still feel it’s largely in steady state, and we’ll just grow sort of with the economy going forward.
Andrew Didora: Got it. Thank you.
Operator: Your next question comes from Helane Becker with TD Cowen. Please go ahead.
Helane Becker: Hello, hi everybody. Thanks very much for squeezing me in here. So I just have a clarifying question. I have two questions. One is, I think, Ursula, you mentioned competitive CASM ex. Can you just say what competitive CASM ex means?
Ursula Hurley: Yes. I think we’re obviously going to have a much lower growth profile than we have historically. And so if you look at competitors’ performance at a lower growth profile, I would envision us being in that same realm. Again, we’re still going through our planning process for 2024. But I guess you can expect us to ensure that we’re building a plan with a CASM ex that is competitive based on the growth rate that we pinpoint compared to historical competitor performance.
