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JetBlue Airways - Increase in fuel costs pushes JetBlue to a net loss in 3Q08

27-Oct-2008

JetBlue reported a net loss of USD4.0 million in the three months ended 30-Sep-08 (3Q08), slipping from the USD23 million net profit reported in the previous corresponding period. The loss was primarily driven by a spike in fuel costs in the quarter, up USD145 million in 3Q08 compared to 3Q07 levels. [1481 words]

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Subheadings:

  • Record revenue in 3Q08, but unable to keep up with cost increases
  • Gap between load factor and break-even load factor widens
  • Yield, unit revenue and unit cost increase in 3Q08
  • Fuel representing 44% of total operating costs
  • Shrinking for first time in its history
  • Continues Caribbean expansion
  • Challenging times ahead, but well focused on survival strategy

Graphs and data:

  • JetBlue financial highlights for three months ended 30-Sep-08
  • JetBlue quarterly operating margin: 1Q06 to 3Q08
  • JetBlue load factor and break-even load factor: 1Q07 to 3Q08
  • Aircraft fuel as a percentage of total operating expenses: 4Q03 vs 3Q08
  • Select US airline 3Q08 fuel costs (cents) per gallon (GAAP) and year-on-year increases
  • US carrier's losses/gains from 3Q08 fuel hedging
  • JetBlue Airways fuel cost per gallon (USD): Feb-00 to Jul-08
  • 4Q08 and FY2008 outlook
  • JetBlue Airways capacity growth (ASK) growth: Jan-04 to Sep-08
  • JetBlue Airways fleet plan: 2008 to 2016
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