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JetBlue Reports $58 Million Net Income for First Quarter 2017, a 58.8% Decrease Year on Year

JetBlue Reports $58 Million Net Income for First Quarter 2017, a 58.8% Decrease Year on Year

NEW YORK – JetBlue Airways Corporation (NASDAQ: JBLU) reported on April 25, 2017, its results for the first quarter 2017:
• Operating income of $147 million, a decline of 57.9% from the first quarter of 2016.
• Pre-tax income of $126 million, a decrease of 60.9% from the first quarter of 2016.
• First quarter net income of $85 million, or $0.25 per diluted share. This compares to JetBlue’s first quarter 2016 net income of $207 million, or $0.61 per diluted share.
Financial Performance
JetBlue reported first quarter operating revenues of $1.6 billion. Revenue passenger miles for the first quarter increased 3.9% to 11.4 billion on a capacity increase of 4.2%, resulting in a first quarter load factor of 83.9%, a 0.3 point decrease year over year.
Yield per passenger mile in the first quarter was 12.73 cents, down 5.5% compared to the first quarter of 2016. Passenger revenue per available seat mile (PRASM) for the first quarter 2017 decreased 5.8% year over year to 10.68 cents and operating revenue per available seat mile (RASM) decreased 4.8% year over year to 11.81 cents.

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SOURCE JetBlue Airways

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