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JetBlue Airways reports first profit in the first quarter since 2005

30-Apr-2009

JetBlue reported a net profit of USD12 million in the three months ended 31-Mar-09 (1Q09), the carrier’s first profit in the first quarter in four years, and a significant improvement from the USD10 million net loss reported in the previous corresponding period. Excluding special charges, which included an USD8 million charge related to the valuation of JetBlue’s auction rate securities, the carrier’s net profit would have been USD20 million. [2339 words]

Unlock the following content in this report:

Subheadings:

  • Operating margin reaches highest level since 3Q07
  • "Encouraged" by the success of ancillary revenue initiatives
  • Break-even load factor exceeded in 1Q09...just
  • Unit revenue reductions reflecting weakening airline revenue environment
  • Benefiting from easing oil prices
  • Increase in cash position over past 12 months
  • Shrinking for first time in its history in 2009
  • ... but Caribbean/Latin America growth to continue (subject to Swine flu)
  • Challenging times ahead, but strongly focused on survival strategy

Graphs and data:

  • JetBlue financial highlights for three months ended 31-Mar-09
  • JetBlue Airways share price: Apr-2008 to Apr-2009
  • JetBlue quarterly operating margin: 1Q06 to 1Q09
  • JetBlue load factor and break-even load factor: 1Q07 to 4Q08
  • Select US carrier unit costs (cents) and year-on-year change (%): 1Q09
  • Select US carrier unit costs excluding fuel (cents) and year-on-year change (%): 1Q09
  • Aircraft fuel as a percentage of total operating expenses: 4Q03 to 1Q09
  • 2Q09 and FY09 outlook: Mar-2009
  • JetBlue Airways capacity growth (ASK) growth: Jan-2004 to Mar-2009
  • JetBlue Airways fleet plan: 2009 to 2016
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