For the first quarter of 2011, the company posted a net income of $3m, compared to net loss of $1m for the same period in 2010.
Operating income for the first quarter of 2011 was $45m, compared to $43m for the same period in 2010. Total operating expenses were $967m, compared to $828m for the same period in 2010.
Revenue passenger miles for the first quarter increased seven percent to 6.92 billion on a capacity increase of one percent, resulting in a first quarter load factor of 81.4 percent, an increase of 4.6 points year over year.
Yield per passenger mile in the first quarter was 13.08 cents, up 7.7 percent compared to the first quarter of 2010. Passenger revenue per available seat mile (PRASM) for the first quarter 2011 increased 14.1 percent year-over-year to 10.64 cents and operating revenue per available seat mile increased 15.1 percent year-over-year to 11.89 cents.
For the second quarter of 2011, operating expense per available seat mile (CASM) is expected to increase between 18 and 20 percent over the year-ago period. Excluding fuel, CASM in the second quarter is expected to increase between three and five percent year over year.
CASM for the full year is expected to increase between 15 and 17 percent over full year 2010. Excluding fuel, CASM in 2011 is expected to range from zero to positive two percent year over year.
Capacity is expected to increase between seven and nine percent in the second quarter and to increase between six and eight percent for the full year.
Dave Barger, president and CEO of JetBlue, said: â€œDespite significantly higher fuel prices, we are pleased to report a profit in the first quarter. Our first quarter results demonstrate the success of our Boston and Caribbean network which continue to deliver strong revenue performance and the focus brought by our 13,000 crewmembers to deliver a great JetBlue Experience.â€
Will the firm further increase operating revenues in Q2?
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