JetBlue Sees Increase in Q2 Profit as Fuel Costs Continue to Drop

JetBlue Airways announced financial results for the second quarter of 2016.

The New York-based airline reported $180 million in profit, an 18.5% increase compared to $152 million in the second quarter of 2015 as oil prices stayed low.

JetBlue CEO Robin Hayes called it “another great quarter.”

Revenue for the quarter was $1.6 billion, while passenger revenue per available seat mile, or Prasm, decreased by 10.5% year-over-year for the second quarter, down to 10.94 cents.

The airline’s passenger traffic in the second quarter was 11.55 billion revenue passenger miles, or RPMs, up 10.3% from 10.47 billion RPMs in the second quarter of 2015.  Capacity also rose, up by 11.1% year-over-year, to 13.59 billion available seat miles, or ASMs, from 12.23 billion ASMs in 2015.

Meanwhile, passenger load factor in the second quarter decreased by 0.6 percentage points, down to 85% from 85.6% in the same period during the previous year.

Earlier today, the company announced that it would be expanding its successful Mint premium cabin program by adding 30 new Airbus A321 aircraft to its fleet over the next seven years.

(Photo: Accura Media Group)