jetBlue Airways operating profit up 13% in 2Q2017 as unit revenue exceeds guidance

jetBlue Airways reported (25-Jul-2017) the following financial highlights:

• Three months ended 30-Jun-2017:
  • Total operating revenue: USD1842 million, +12.1% year-on-year;
  • Total operating costs: USD1488 million, +11.9%;
    • Labour: USD464 million, +12.0%;
    • Fuel: USD325 million, +18.5%;
  • Operating profit: USD354 million, +13.0%;
  • Net profit: USD211 million, +16.7%;
  • Passengers: 10.3 million, +6.8%;
  • Passenger load factor: 85.2%, +0.2ppt;
  • Average fare: USD160.03, +4.0%;
  • Yield: USD 13.60 cents, +5.7%;
  • Passenger revenue per ASM: USD 11.59 cents, +5.9%;
  • Revenue per ASM: USD 12.93 cents, +7.0%;
  • Operating cost per ASM: USD 10.45 cents, +6.8%;
  • Cost per ASM ecl fuel: USD 8.16 cents, +5.1%;
  • Average stage length: 1069 miles, -2.6%;
• Six months ended 30-Jun-2017:
  • Total operating revenue: USD3446 million, +5.7%;
  • Total operating costs: USD2945 million, +13.4%;
    • Labour: USD931 million, +9.5%;
    • Fuel: USD647 million, +32.4%;
  • Operating profit: USD501 million, -24.4%;
  • Net profit: USD296 million, -23.6%;
  • Passengers: 20.0 million, +6.6%;
  • Passenger load factor: 84.6%, stable;
  • Average fare: USD154.88, -1.9%;
  • Yield: USD 13.18 cents, +0.1%;
  • Passenger revenue per ASM: USD 11.15 cents, +0.1%;
  • Revenue per ASM: USD 12.39 cents, +1.2%;
  • Operating cost per ASM: USD 10.59 cents, +8.5%;
  • Cost per ASM excl fuel: USD 8.25 cents, +4.2%;
  • Average stage length: 1074 miles, -2.6%;
  • Total assets: USD9644 million;
  • Cash and cash equivalents: USD550 million;
  • Total debt: USD1305 million. [more - original PR]

jetBlue Airways: "Our second quarter unit revenue exceeded our initial guidance as a result of our targeted revenue initiatives and a solid demand environment. We continue to execute on the commercial and cost initiatives we have underway to deliver above industry average margins and drive shareholder value," Robin Hayes, President and CEO. Source: Company statement, 25-Jul-2017.