April 26, 2012

Announcing First Quarter Profits!

We reported its results for the first quarter 2012 today:

  • Operating income for the quarter was $89 million, resulting in a 7.4% operating margin, compared to operating income of $45 million and a 4.4% operating margin in the first quarter of 2011.
  • Pre-tax income of $49 million in the first quarter.  This compares to pre-tax income of $6 million in the first quarter of 2011.
  • Net income for the first quarter was $30 million, or $0.09 per diluted share.  This compares to JetBlue’s first quarter 2011 net income of $3 million, or $0.01 per diluted share.

Operational Performance

We reported record first quarter operating revenues of $1.2 billion, an increase of 18.9% versus last year. Revenue passenger miles for the first quarter increased 14.2% to 7.91 billion on a capacity increase of 12.0%, resulting in a first quarter load factor of 82.9%, an increase of 1.5 points year over year.

Yield per passenger mile in the first quarter was 13.86 cents, up 5.9% compared to the first quarter of 2011.  Passenger revenue per available seat mile (PRASM) for the first quarter 2012 increased 8.0% year over year to 11.49 cents and operating revenue per available seat mile (RASM) increased 6.1% year over year to 12.62 cents.

Operating expenses for the quarter increased 15.2%, or $147 million, over the prior year period driven primarily by $80 million in additional fuel expense.  Our operating expense per available seat mile (CASM) for the first quarter increased 2.8% year-over-year to 11.69 cents.  Excluding fuel, CASM decreased 1.0% to 7.15 cents.

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