JetBlue Airways reports sharp profit declines in 1Q2014

JetBlue Airways revenue up 4% - financial highlights for three months ended 31-Mar-2014:

• Total operating revenue: USD1349 million, +3.8% year-on-year;
• Total operating costs: USD1308 million, +5.5%;
• • Fuel: USD464 million, -0.8%;
  • Labour: USD329 million, +17.7%;
• Operating profit: USD41 million, -30.5%;
• Net profit: USD4 million, -71.4%;
• Passenger numbers: 7.3 million, +0.4%;
• Passenger load factor: 83.1%, -0.8 ppt;
• Average fare: USD167.69, +3.2%;
• Yield: USD 14.20 cents, +1.8%;
• Passenger revenue per ASM: USD 11.80 cents, +0.9%;
• Operating revenue per ASM: USD 12.95 cents, +1.1%;
• Operating cost per ASM: USD 12.55 cents, +2.6%;
• Cost per ASM excl fuel: USD 8.10 cents, +6.3%;
• Average stage length: 1095 miles, +0.3%;
• Total assets: USD7645 million;
• Cash and cash equivalents: USD501 million;
• Total liabilities: USD5509 million. [more - original PR]

JetBlue: "With a solid demand environment and continued focus on ancillary revenue initiatives, we expect year over year unit revenue growth to accelerate in the second quarter," Robin Hayes, President. Source: Company statement, 23-Apr-2014.