SAN FRANCISCO (AFX) -- AirTran Airways warned Tuesday that the recent spate of hurricanes drove passenger bookings to Florida far below last year's levels, prompting analysts to signal slumping fourth-quarter profits at AirTran and JetBlue Airways. AirTran, the Orlando, Fla.-based low-fare carrier, said it was forced to cancel about 580 flights while hurricanes Bonnie, Charley, Frances and Ivan battered the region. "We already seeing a significant decline over the previous year," AirTran spokeswoman Judy Graham-Weaver told CBS MarketWatch, referring to bookings for the fall and early winter months. Florida is a big revenue generator for AirTran and JetBlue, which depend on the Sunshine State for about 40 percent of their projected third-quarter revenue, more than any other big carriers, according to Lehman Brothers research. On Tuesday, BB&T Capital Markets analyst Tony Cristello cut his earnings' estimates on JetBlue for the second time in two weeks, citing weakening margins and disruptions caused by the hurricanes. "We suspect that bookings for the balance of September and into October have likely been impacted," Cristello said in a research note. "It will take some time for Florida residents to repair damage, and travelers may be weary of booking flights until the hurricane season has fully passed." The hurricane season officially ends Nov. 30. Earlier this month, AirTran and JetBlue both warned that third-quarter results would be significantly affected. Now, analysts expect fourth-quarter profit warnings. "We believe that both carriers will seek to guide down expectations when they report Q3 results next month, including an expected fourth-quarter loss at AirTran," J.P. Morgan analyst Jamie Baker said in a Sept. 16 research note. Analysts project AirTran will swing to a third-quarter loss of 2 cents a share versus a 24 cent per share profit in the year-ago period, according to Thomson First Call. The airline is expected to earn 6 cents in the fourth quarter, down from 18 cents a year-ago. JetBlue is expected to make 12 cents a share, down from 26 cents a year-ago. Analysts estimate the airline will earn 13 cents in the fourth quarter, down from 17 cents a year-ago. Booking woes at AirTran and JetBlue come at a bad time. Airlines capture more revenue from Florida flights in the fourth quarter than the third quarter, airline analysts say. Florida is soon expected to become a major battleground for airlines, J.P. Morgan's Baker added. Flights from East Coast destinations to the Sunshine State are expected to increase 16 percent in the fourth quarter over the same period last year. Leading the charge will be JetBlue, AirTran, Southwest Airlines and Spirit Airlines. Meanwhile, traditional carriers like American Airlines and Continental Airlines are projected to cut back on flights to Florida from October through March of 2005, Baker said. In late afternoon trading action, shares of AirTran fell 9 cents to $11.12. JetBlue lost 18 cents to $22.64. This story was supplied by CBSMarketWatch. For further information see www.cbsmarketwatch.com. Roger EWROPS