JetBlue Q3 Profit Down, Hurt by Hurricane Season and Higher Expenses

By Jesse Sokolow on 24 October 2017
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DSC_0264JetBlue Airways announced financial results for the third quarter of 2017.

The New York-based airline said its third-quarter net income fell to $179 million, down by 10% or $20 million from the year prior, citing higher operating expenses and a brutal hurricane season.

The New York-based airline reported third quarter revenue of $1.8 billion, a 4.7% increase from $1.7 billion in Q3 2016.

The carrier said that passenger revenue per available seat mile, or Prasm, decreased by 0.34% year-over-year for the third quarter, down to 11.34 cents.

The airline’s passenger traffic in the first quarter was 12.81 billion revenue passenger miles, or RPMs, up 2.3% from 11.9 billion RPMs in the third quarter of 2016. Capacity also rose, by 3.7% year-over-year, up to 14.3 billion available seat miles, or ASMs, from 13.79 billion ASMs in 2016.

Meanwhile, passenger load factor in the first quarter decreased by 1.2 percentage points, down to 85.1% from 86.3% in the same period during the previous year.

(Photo: Accura Media Group)

Accura News

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