Jim Cramer: Skip JetBlue Buy Southwest Instead

Investors should buy Southwest (LUV) - Get Report over JetBlue (JBLU) - Get Report , says TheStreet's Jim Cramer. Shares of JetBlue are down over one percent today after the company reported that capacity growth outpaced traffic in May and cut its capacity growth outlook for 2016.  The Long Island City, NY-based airline said that May traffic rose by 10.7 percent from a year ago, while capacity grew by 12.1 percent. Load factor for the month was down to 84.6 percent from 85.7 percent in May 2015. Revenue per available seat mile (RASM) dropped by seven percent in May, and JetBlue anticipates that RASM will decline between 7.5 percent and 8.5 percent in the second quarter. For the full year, JetBlue lowered its capacity growth forecast to between 8 percent and 9.5 percent from 8.5 percent to 10.5 percent.

At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.