JetBlue Reports Higher Profit and Revenue for Q1

By Paul Riegler on 24 April 2018
  • Share

IMGP5613 (1)JetBlue Airways announced financial results for the first quarter of 2018.

The New York-based airline reported first quarter revenue of $1.76 billion, a 9.6% increase from $1.6 billion in Q1 2017.

Net income for the quarter was $88 million, a rise of 7% from $82 million in 2017, and first quarter revenue per available seat mile, or RASM, was 6.1%,

“Our strong RASM performance was driven by our revenue management initiatives, ongoing ancillary growth, and strong demand across our network,” said the airline’s CEO, Robin Hayes, in a statement.

The airline’s passenger traffic in the first quarter was 11.87 billion revenue passenger miles, or RPMs, up 4.1% from 11.39 billion RPMs in the first quarter of 2017. Capacity also rose, by 3.3% year-over-year, up to 14.03 billion available seat miles, or ASMs, from 13.58 billion ASMs in 2017.

Meanwhile, passenger load factor in the first quarter rose by 0.7 percentage points, up to 84.6% from 83.9% in the same period during the previous year.

(Photo: Accura Media Group)

Accura News