JetBlue Sees Q2 Profit Soar Thanks to Higher Fares

By Jesse Sokolow on 25 July 2017
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IMGP5613 (1)JetBlue Airways announced financial results for the first quarter of 2017.

The New York-based airline reported first quarter revenue of $1.8 billion, a hefty 12.1% increase from $1.6 billion in Q2 2016.

Net income for the quarter was $211 million, a rise of 16.7% from $181 million in 2016.

“Our second quarter unit revenue exceeded our initial guidance as a result of our targeted revenue initiatives and a solid demand environment,” said the airline’s CEO,   Robin Hayes, in a statement.

The carrier said that passenger revenue per available seat mile, or Prasm, increased by 5.9% year-over-year for the first quarter, up to 11.59 cents.

The airline’s passenger traffic in the first quarter was 12.133 billion revenue passenger miles, or RPMs, up 5% from 11.553 billion RPMs in the first quarter of 2016. Capacity also rose, by 4.8% year-over-year, up to 14.246 billion available seat miles, or ASMs, from 13.597 billion ASMs in 2016.

Meanwhile, passenger load factor in the first quarter rose by 0.2 percentage points, up to 85.2% from 85% in the same period during the previous year.

(Photo: Accura Media Group)

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