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30-Jan-2013 3:36 PM

JetBlue Airways operating profit down in 4Q2012, full year profit up in 2012

JetBlue Airways revenue up 4% - financial highlights:

  • Three months ended 31-Dec-2012:
    • Total operating revenue: USD1194 million, +4.2% year-on-year;
    • Total operating costs: USD1150 million, +8.3%;
      • Fuel: USD442 million, +5.9%;
      • Labour: USD262 million, +8.6%;
    • Operating profit: USD44 million, -47.5%;
    • Net profit: USD1 million, -95.7%;
    • Passenger numbers: 7.0 million, +4.9%;
    • Load factor: 81.9%, -0.3 ppt;
    • Average fare: USD155.17, -0.3%;
    • Yield: USD 13.47 cents, +0.2%;
    • Passenger revenue per ASM: USD 11.03 cents, -0.2%;
    • Operating revenue per ASM: USD 12.09 cents, -0.5%;
    • Operating costs per ASM: USD 11.65 cents, +3.3%;
    • Cost per ASM excl fuel: USD 7.17 cents, +4.8%;
  • 12 months ended 31-Dec-2012:
    • Total operating revenue: USD4982 million, +10.6%;
    • Total operating costs: USD4606 million, +10.1%;
      • Fuel: USD1806 million, +8.6%;
      • Labour: USD1044 million, +10.3%;
    • Operating profit: USD376 million, +16.6%;
    • Net profit: USD128 million, +48.8%;
    • Passenger numbers: 29.0 million, +9.8%;
    • Load factor: 83.8%, +1.4 ppt;
    • Average fare: USD157.11, +1.5%;
    • Yield: USD 13.55 cents, +2.0%;
    • Passenger revenue per ASM: USD 11.35 cents, +3.6%;
    • Operating revenue per ASM: USD 12.43 cents, +2.8%;
    • Operating costs per ASM: USD 11.49 cents, +2.3%;
    • Cost per ASM excl fuel USD 6.99 cents, +3.3%;
    • Total assets: USD7070 million, stable;
    • Cash and cash equivalents: USD182 million, -73.0%;
    • Total liabilities: USD5182 million, -2.5%;
  • 1Q2013 forecast:
    • Capacity (ASMs): +5.5% to +7.5%;
    • Unit costs: +1.0% to +3.0%;
    • Cost per ASM excl fuel and profit sharing: +2.0% to +4.0%;
    • Capital expenditure:
      • Aircraft: USD50 million;
      • Non-aircraft: USD55 million;
  • FY2013 forecast:
    • Capacity: +5.5% to +7.5%;
    • Unit costs: +1.5% to +3.5%;
    • Cost per ASM excl fuel and profit sharing: +1.0% to +3.0%;
    • Capital expenditure:

JetBlue Airways: "Although Hurricane Sandy negatively impacted fourth quarter results, 2012 was a very good year for JetBlue. We further solidified our position as New York's Hometown Airline while continuing to pursue profitable growth opportunities in Boston and the Caribbean & Latin America, resulting in record revenue performance,” Dave Barger, President and CEO. Source: Company statement, 29-Jan-2013.

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