JetBlue Profit Down Significantly in First Quarter

By Jesse Sokolow on 25 April 2017
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DSC_0453JetBlue Airways announced financial results for the first quarter of 2017.

The New York-based airline reported first quarter revenue of $1.6 billion, virtually unchanged from Q1 2016.

Net income for the quarter was $85 million a drop of 59% from $207 million in 2016.

The carrier said that passenger revenue per available seat mile, or Prasm, decreased by 5.8% year-over-year for the first quarter, down to 10.68 cents.

The airline’s passenger traffic in the first quarter was 11.399 billion revenue passenger miles, or RPMs, up 3.9% from 10.976 billion RPMs in the first quarter of 2016. Capacity also rose, by 4.2% year-over-year, up to 13.58 billion available seat miles, or ASMs, form 13.029 billion ASMs in 2016.

Meanwhile, passenger load factor in the first quarter decreased by 0.3 percentage points, down to 83.9% from 84.2% in the same period during the previous year.

(Photo: Accura Media Group)

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