JetBlue Airways operating profit up 8% in 2016

JetBlue Airways revenue up 3% - financial highlights:

• Three months ended 31-Dec-2016:
• • Total operating revenue: USD1641 million, +3.0% year-on-year;
  • Total operating costs: USD1345 million, +6.5%;
  • • Labour: USD427 million, +6.5%;
    • Fuel: USD291 million, -2.7%;
  • Operating profit: USD296 million, -10.4%;
  • Net profit: USD172 million, -9.5%;
  • Passenger numbers: 9.5 million, +7.0%;
  • Passenger load factor: 84.7%, +1.1 ppts;
  • Average fare: USD154.94, -4.0%;
  • Yield: USD 13.2 cents, -3.1%;
  • Passenger revenue per ASM: USD 11.19 cents, -1.7%;
  • Operating revenue per ASM: USD 12.43 cents, -1.5%;
  • Operating cost per ASM excl fuel: USD 10.19 cents, +1.9%;
  • Cost per ASM excl fuel: USD 7.98 cents, +4.6%;
  • Average stage length: 1077 miles, -1.5%;
  • Aircraft utilisation: 11.6 hours, -0.6%;
• 12 months ended 31-Dec-2016:
• • Total operating revenue: USD6632 million, +3.4%;
  • Total operating costs: USD5320 million, +2.3%;
  • • Labour: USD1698 million, +10.2%;
    • Fuel: USD1074 million, -20.3%;
  • Operating profit: USD1312 million, +7.9%;
  • Net profit: USD759 million, +12.0%;
  • Passenger numbers: 38.3 million, +9.0%;
  • Passenger load factor: 85.1%, +0.4 ppt;
  • Average fare: USD157.14, -6.4%;
  • Yield: USD 13.18 cents, -6.7%;
  • Passenger revenue per ASM: USD 11.21 cents, -6.3%;
  • Operating revenue per ASM: USD 12.37 cents, -5.0%;
  • Operating cost per ASM: USD 9.92 cents, -6.0%;
  • Cost per ASM excl fuel: USD 7.92 cents, +1.3%;
  • Average stage length: 1093 miles, +0.1%;
  • Aircraft utilisation: 12.0 hours, +0.8%;
  • Total assets: USD9487 million;
  • Cash and cash equivalents: USD433 million;
  • Total debt: USD1384 million. [more - original PR]

JetBlue: "Compared with last year, operating expenses for the quarter increased 6.5%, or $81 million. Interest expense for the quarter declined 13.2%, or $4 million, as JetBlue continued to reduce its debt. JetBlue's operating expense per available seat mile (CASM) for the fourth quarter increased 1.9% year over year to 10.19 cents. Excluding fuel, profit sharing and related taxes, fourth quarter CASM 1 increased 5.6% to 7.69 cents." Source: Company statement, 26-Jan-2017.