Category Archives: JetBlue Airways

JetBlue Airways Corporation reports first quarter net income of $137 million

JetBlue Airways Corporation (New York) issued its first quarter financial report today:

JetBlue logo-2

JetBlue Airways Corporation today reported its results for the first quarter 2015:

Operating income of $253 million in the first quarter. This compares to operating income of $41 million in the first quarter of 2014

Pre-tax income of $222 million in the first quarter. This compares to pre-tax income of $6 million in the first quarter of 2014.

Net income of $137 million, or $0.40 per diluted share. This compares to JetBlue’s first quarter 2014 net income of $4 million, or $0.01 per diluted share.
Financial Performance

JetBlue reported record first quarter operating revenues of $1.5 billion. Revenue passenger miles for the first quarter increased 11.1% to 9.6 billion on a capacity increase of 9.6%, resulting in a first quarter load factor of 84.3%, an increase of 1.2 points year over year.

Yield per passenger mile in the first quarter was 14.64 cents, up 3.1% compared to the first quarter of 2014. Passenger revenue per available seat mile (PRASM) for the first quarter 2015 increased 4.5% year over year to 12.33 cents and operating revenue per available seat mile (RASM) increased 3.0% year over year to 13.34 cents.

Operating expenses for the quarter decreased 2.9%, or $38 million, over the prior year period. Interest expense for the quarter declined 8.9%, or $3 million, as JetBlue continues to reduce its debt. JetBlue’s operating expense per available seat mile (CASM) for the first quarter decreased 11.3% year over year to 11.13 cents. Excluding fuel and profit sharing, first quarter CASM1decreased 1.9% to 7.95 cents.

Operational Performance

Despite a series of winter storms, which created operational challenges, system on time departures, or D0, improved 1.8 points year-over-year in the first quarter. System arrival performance, or A14, also improved 1.4 points.

“We posted strong first quarter results based on healthy demand across our network and a continued focus on cost control. Our 16,500 crewmembers delivered great customer service despite the challenges presented by winter storms. I’d like to thank all our Crewmembers for their hard work. They truly inspired humanity during this busy winter period.” said Robin Hayes, JetBlue’s President and CEO.

Fuel Expense and Hedging

In the first quarter JetBlue had hedges in place for approximately 21% of its fuel consumption. This resulted in a realized fuel price of $2.06 per gallon, a 34% decrease versus first quarter 2014 realized fuel price of $3.14. JetBlue recorded $35 million in losses on fuel hedges settling during the first quarter.

JetBlue has hedged approximately 20% of its second quarter 2015 projected fuel requirements using a combination of jet fuel swaps and collars. Based on the fuel curve as of April 20th, JetBlue expects an average price per gallon of fuel, including the impact of hedges and fuel taxes, of $2.11 in the second quarter. For the balance of the year beyond the second quarter, JetBlue has hedged approximately 14% of projected fuel consumption.

Liquidity and Cash Flow

JetBlue ended the quarter with approximately $1 billion in unrestricted cash and short term investments, or about 17% of trailing twelve month revenue. In addition, JetBlue maintains $600 million in undrawn lines of credit.

During the first quarter, JetBlue repaid approximately $55 million in regularly scheduled debt and capital lease obligations. JetBlue anticipates paying approximately $216 million in regularly scheduled debt and capital lease obligations during the remainder of 2015 and plans to continue to opportunistically prepay other debt. JetBlue expects to pay approximately $43 million in regularly scheduled debt and capital lease obligations in the second quarter of 2015.

“JetBlue had a strong first quarter despite challenging winter weather conditions.” said Mark Powers, JetBlue’s Chief Financial Officer. “As we look forward, we expect to implement the return accretive initiatives we outlined at Investor Day and improve the balance sheet while continuing to reinvest in our business.”

Second Quarter and Full Year Outlook

For the second quarter of 2015, CASM excluding fuel and profit sharing is expected to increase between 1.0% and 3.0% versus the year-ago period. Excluding fuel and profit sharing, CASM for the full year 2015 is forecasted to grow between zero and two percent year over year.

Capacity is expected to increase between 5.5% and 7.5% in the second quarter 2015 and between 7.0% and 9.0% for the full year, in line with prior guidance.

Copyright Photo: Michael B. Ing/AirlinersGallery.com. Airbus A320-232 N793JB (msn 4647) in the Barcode tail design lands at the focus city of Long Beach.

JetBlue Airways aircraft slide show: AG Airline Slide Show

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New video from JetBlue: recycling old uniforms

JetBlue Airways  launched a brand-new uniform program in 2014, and made sure the old threads weren’t left up in the air! When you carry the Manhattan Portage bag, you carry a piece of JetBlue history and the airline’s mission to inspire humanity and sustainability.

JetBlue announces the start date for flights from Albany, NY to Florida

JetBlue Airways (New York) has announced the start of service at Albany International Airport (ALB). The airline will operate daily service to its focus cities of Fort Lauderdale-Hollywood International Airport (FLL) and Orlando International Airport (MCO) starting on December 10, 2015.

With the addition of Albany, JetBlue will offer service to eight airports in New York State. JetBlue’s Schedule From Albany as of December 10, 2015:

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ALB – FLL FLL – ALB
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12:50 p.m. – 4:06 p.m. 9:14 a.m. – 12:07 p.m.
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ALB – MCO MCO – ALB
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4:45 p.m. -7:54 p.m. 1:20 p.m. – 4:00 p.m.
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JetBlue’s flights from Albany will be operated on 150-seat Airbus A320s.

Elsewhere in the Empire State, Queens-based JetBlue also serves airports in Buffalo; Newburgh; New York City (LaGuardia and Kennedy); Rochester; Syracuse; and Westchester County.

Copyright Photo: Michael B. Ing/AirlinersGallery.com. Airbus A320-232 N665JB (msn 3348) in the Blueberries tail design lands at Long Beach.

JetBlue Airways aircraft slide show: AG Airline Slide Show

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JetBlue Airways hit with an IT system outage, experiencing delays today

JetBlue Airways (New York) this morning issued this short statement:

JetBlue experienced an IT system outage early this morning that has created delays in the system. Due to this IT issue, delays are expected throughout the day. We apologize for the inconvenience this has caused and will provide updates as available.

Copyright Photo: Jay Selman/AirlinersGallery.com. Embraer ERJ 190-100 IGW N346JB (msn 19000504) in the Barcode tail scheme arrive at New York (JFK) hub.

JetBlue Airways aircraft slide show: AG Airline Slide Show

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JetBlue Airways and Silver Airways announce a code-share partnership, FLL-BWI to start November 12

JetBlue Airways (New York) and Silver Airways (Fort Lauderdale/Hollywood) have announced a codeshare partnership that gives customers of both airlines access to new destinations, when connecting on a JetBlue flight. The majority of transfer opportunities will be in JetBlue’s focus cities Orlando (MCO) and Fort Lauderdale-Hollywood (FLL). Later this year, the partnership will expand to include 13 Silver Airways routes from Florida to The Bahamas, subject to receipt of regulatory approvals.

Under the agreement, customers will enjoy booking a single ticket and seamless baggage transfers when flying on a JetBlue codeshare flight operated by Silver Airways, and members of JetBlue’s frequent flyer program, TrueBlue, will earn points on all codeshare flights. Flights are now available for purchase on JetBlue.com in select markets.

The JetBlue ‘B6′ designator code will initially be placed on 14 Silver Airways routes, helping JetBlue customers get to destinations across Florida on one itinerary including:

Gainesville (GNV) – Orlando
Key West (EYW) – Fort Lauderdale-Hollywood
Key West – Orlando
Key West – Fort Myers (RSW)
Key West – Tampa (TPA)
Orlando – Fort Lauderdale-Hollywood
Orlando – Fort Myers
Pensacola (PNS) – Orlando
Pensacola – Tampa
Tallahassee (TLH) – Fort Lauderdale-Hollywood
Tallahassee – Orlando
Tallahassee – Tampa
Tampa – Fort Lauderdale-Hollywood
Tampa – Jacksonville (JAX)

The agreement gives customers the opportunity to connect from seven airports across Florida to JetBlue’s continuously growing network in both Fort Lauderdale-Hollywood and Orlando, reaching final destinations throughout the U.S., Latin America and the Caribbean.

JetBlue is the largest airline from Fort Lauderdale-Hollywood, with more than 70 daily flights to 36 cities in 10 countries, including Colombia, Costa Rica, Dominican Republic, Jamaica, Haiti, Mexico and Peru.

The two airlines have successfully cooperated on an interline basis since 2013. This marks JetBlue’s thirteenth announced codeshare agreement.

In other news, JetBlue Airways has announced its new twice-daily service to Baltimore/Washington Thurgood Marshall International Airport (BWI) will launch November 12. This will be JetBlue’s second destination from Baltimore/Washington, having launched its nonstop service to Boston Logan International Airport (BOS) in 2009.

Baltimore/Washington is one of several new destinations JetBlue will launch from Fort Lauderdale-Hollywood this year. On April 30, the airline will launch nonstop routes to Cleveland Hopkins International Airport (CLE) and Detroit Metropolitan Wayne County Airport (DTW). With these additional routes, JetBlue will serve 36 cities across the U.S., Caribbean and Latin America on a nonstop basis from its South Florida focus city.

Copyright Photo: Brian McDonough/AirlinersGallery.com. Airbus A320-232 N766JB (msn 3724) in the Tartan tail scheme arrives at Fort Lauderdale-Hollywood International Airport.

JetBlue Airways aircraft slide show: AG Airline Slide Show

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JetBlue to expand its Mint service to Aruba and Barbados

JetBlue Airways (New York) announced plans to offer its Mint experience from New York’s John F. Kennedy International Airport (JFK) to Barbados (BGI) and Aruba (AUA), two of its most popular Caribbean routes. The new seasonal service begins in November.

JetBlue launched its premium Mint service on transcontinental routes in June 2014.

JetBlue’s Mint experience to the islands will add a Caribbean twist to some customer favorites, including the tapas-style menu curated by New York City restaurant Saxon+Parole, organic desserts by Blue Marble Ice Cream, a sweet treat from Mah-ze-Dahr Bakery, and customized amenity kits from Birchbox.

Between November 7, 2015 and April 30, 2016, JetBlue will operate one roundtrip on Saturdays to each Caribbean location. And between December 19, 2015 and January 4, 2016 the airline will operate one roundtrip flight daily for the busy holiday travel season.

Saturdays between November 7, 2015 and April 30, 2016
Daily between December 19, 2015 and January 4, 2016

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JFK – BGI, BGI – JFK
9:20 a.m. – 3:02 p.m., 4:15 p.m. – 8:30 p.m.

JFK – AUA, AUA – JFK
7:59 a.m. – 1:28 p.m., 2:40 p.m. – 6:25 p.m.
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According to the airline, “JetBlue offers Mint on its new Airbus A321 aircraft. Features of the A321 core interior include 10-inch television screens offering free entertainment, comfortable seats with the most legroom in coach and power outlets accessible to all customers. JetBlue’s popular marketplace, a self-serve station full of snacks, sodas and water for customers to enjoy at their convenience, is also available throughout the flight.”

Copyright Photo: Fred Freketic/AirlinersGallery.com. Airbus A321-231 N935JB (msn 6185), named “Fly in Mint Condition”, prepares to depart from John F. Kennedy International Airport (JFK) in New York.

JetBlue Airways aircraft slide show: AG Airline Slide Show

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New video from JetBlues Airways: Inspiring Humanity and Flying Bluemanity

A new video from JetBlue Airways:

Safety. Caring. Integrity. Passion. Fun. JetBlue’s five values are the foundation of everything we do – and now they boldly live on the side of our newest aircraft, Bluemanity. Our values are what set us apart, and with 15 years worth of amazing customer and crewmember stories, it’s easy to continue inspiring humanity on a higher plane each and every day. Bluemanity, in particular, was inspired by Jaelyn, the granddaughter of a crewmember, and it’s just one of the many reasons we keep people at the heart of our operation.