JetBlue reports narrow profit for 1Q2011

JetBlue reported (21-Apr-2011) the following financial highlights for the three months ended 31-Mar-2011:

• Revenue: USD1012 million, +16.3% year-on-year;
  • Passenger revenue: USD906 million, +15.3%;
  • Other revenue: USD106 million, +25.7%;
  • Passenger revenue per available seat mile: USD10.64 cents, +14.1%;
  • Operating revenue per available seat mile: USD11.89 cents, +15.1%;
• Operating costs: USD967 million, +16.8%;
  • Fuel: USD353 million, +38.6%;
  • Costs per available seat mile: USD11.26 cents, +15.6%
• Operating income: USD45 million, +5.5%;
• Operating margin: 4.4%, (0.5 ppts);
• EBIT: USD6 million, compared to an EBIT loss of USD1 million in the previous corresponding period;
• Net income: USD3 million, compared to a net loss of USD1 million in the previous corresponding period.

JetBlue: "Despite significantly higher fuel prices, we are pleased to report a profit in the first quarter. Our first quarter results demonstrate the success of our Boston and Caribbean network which continue to deliver strong revenue performance," Dave Barger, President and CEO. Source: JetBlue, 21-Apr-2011.