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JetBlue revenue up 9.7%; unexpected net loss in 1Q2010

29-Apr-2010 1:36 PM

JetBlue revenue up 9.7% - financial highlights for the three months ended 31-Mar-2010:

  • Total operating revenue: USD870 million, +9.7% year-on-year;
  • Total operating costs: USD828 million, +15.1%;
    • Fuel: USD254 million, +14.3%;
    • Labour: USD219 million, +18.1%;
  • Operating profit: USD42 million, -43.5%;
  • Net profit (loss): (USd1 million), compared to a profit of USD12 million in the previous corresponding period;
  • Passenger numbers: 5.5 million, +4.5%;
  • Load factor: 76.8%, +0.8 ppt;
  • Average fare: USD141.98, +6.4%;
  • Yield: USD 12.13 cents, +3.8%;
  • Operating revenue per ASM: USD 10.32 cents, +3.4%;
  • Passenger revenue per ASM: USD 9.32 cents, +4.9%;
  • Operating costs per ASM: USD 9.83 cents, +8.5%;
  • Costs per ASM excl fuel: USD 6.81 cents, +8.9%.
  • 2Q2010 Outlook:
    • Capacity (ASMs): +4% to +6%;
    • RASM: +9%;
    • PRASM: +6%;
    • CASM: +12% to +14%;
    • CASM excl fuel: +9% to +11%;
  • FY2010 Outlook:
    • Capacity (ASMs): +6% to +8%;
    • RASM: +9%;
    • PRASM: +6%;
    • CASM: +8% to +10%;
    • CASM excl fuel: +3% to +5%. [more - SEC Filing]

JetBlue: "While we are disappointed to report a loss for the quarter, we are confident that we are taking the right steps to return to sustained profitability. During the quarter, we successfully implemented a new customer service and reservations system - a significant accomplishment given the complexity of such a transition - reflecting meticulous preparation and execution by our outstanding crewmembers. We believe this new system, along with our growing presence in Boston and our unique position as the largest domestic carrier at JFK Airport, allows us to continue to grow and develop revenue streams in the future,” Dave Barger, CEO. Source: JetBlue, 28-Apr-2010.