JetBlue Records 61% Drop in Q1 Revenue

By Paul Riegler on 27 April 2021
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JetBlue Airways announced financial results for first quarter of 2021.

The New York-based carrier posted a pre-tax loss of $347 million in the quarter, compared to profit of $58 million in the same period in 2019.  Excluding one-time items, the adjusted pre-tax loss was $636 million in Q1 versus $70 million in Q1 2019.

The airline does however see light at the end of the tunnel.

“We have seen meaningful progress in the demand recovery, and have started to gain momentum from the groundwork we have laid to emerge from the crisis as a stronger JetBlue,” said Robin Hayes, the airline’s CEO.

Revenue for the first three months of the year was $733 million, down 61% from $1.59 billion in the same period in 2019.  The airline’s revenue was up quarter over quarter, however, by six percentage points.

The airline saw reduced capacity of 41% amidst the coronavirus pandemic-induced decline in travel, in line with what it had announced prior to the start of the period.

(Photo: Accura Media Group)

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