JetBlue Posts Higher Profit in Q4
JetBlue Airways, the nation’s fifth largest airline, announced financial results for 2013 as well as for the fourth quarter.
The New York-based airline reported a profit of $168 million for 2013, up from $128 million in the prior year, and $47 million in the fourth quarter, an increase of $1 million from a year earlier.
Revenue for 2013 increased 9.3% to $4.97 billion. For the quarter, revenue was up 14% to $1.37 billion.
Passenger traffic in the fourth quarter increased 7.1% and capacity was up 8.3%. The airline’s load factor, which represents the percentage of seats filled, was down to 80.9% from 81.9%.
JetBlue said it expects the problems it experienced in early January due to severe weather to hurt its first quarter results. The airline cancelled almost 1,800 flights and expects that this will reduce revenue by $45 million and its operating profit by approximately $30 million.
(Photo: Accura Media Group)