jetblue320
Well-known member
- Joined
- Jun 6, 2003
- Posts
- 572
Also read the very end about David and Dave's new work
agreement commitments (for those of you that thought
they were gonna bail out)
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JetBlue Announces Second Quarter 2004 Earnings; Low-Fare Carrier Reports Fourteenth Consecutive Quarter of Profitability; Achieves 14.1% Operating Margin
7/22/2004 8:00:00 AM
NEW YORK, Jul 22, 2004 (BUSINESS WIRE) -- JetBlue Airways Corporation (JBLU) today reported its results for the second quarter 2004:
-- Operating revenues for the quarter totaled $319.7 million, representing growth of 30.7% over operating revenues of $244.7 million in the second quarter of 2003. -- Operating income in the quarter was $45.1 million, resulting in a 14.1% operating margin, compared to operating income of $45.5 million and an 18.6% operating margin in the second quarter of 2003. -- Net income for the quarter was $21.5 million, representing earnings of $0.19 per diluted share, compared with second quarter 2003 net income of $38.0 million, or $0.36 per diluted share. Net income for the second quarter of 2003 reflected the receipt of $22.8 million in compensation related to the Emergency War Time Supplemental Appropriations Act. Net of income taxes and profit sharing, this amounted to $11.5 million, or $0.11 per diluted share for the three months ended June 30, 2003."In a quarter characterized by the continuation of an extremely competitive revenue environment and high fuel prices, our strong cost containment resulted in a solid operating margin," said David Neeleman, JetBlue's Chairman and CEO. "Our model allows us to grow profitably despite the difficult environment, and we remain committed to our strategy of profitable expansion through our low cost structure and exceptional customer service. We're proud that 25 million customers across 27 cities have chosen to fly JetBlue, and we continue to strive to offer them the best in air travel: new planes with more comfort and legroom, the greatest inflight entertainment, frequent flights in key markets, an ever-expanding route system and pricing that makes sense; all of it delivered by our dedicated crewmembers who are key to our success."
During the second quarter of 2004, JetBlue achieved a completion factor of 99.9% of scheduled flights, identical to the second quarter of 2003. On-time performance, defined by the US Department of Transportation as arrivals within 14 minutes of schedule, was 84.1% in the second quarter of 2004 compared to 87.4% for the same period in 2003. JetBlue attained a load factor in the second quarter of 2004 of 84.5%, a decrease of 0.8 points on a capacity increase of 42.2% over the second quarter of 2003.
Dave Barger, President and COO, commented, "This quarter, our talented crewmembers provided award-winning service to 2.9 million customers. This was achieved while opening six new routes and four new cities, including our first international destination, operating our fleet an average of 13.7 hours daily, and accepting three new aircraft into the fleet. We are encouraged by this past quarter's performance yet continue to remind ourselves that we are only as good as our last arrival."
For the second quarter 2004, operating revenues increased by 30.7% over 2003 to $319.7 million. Revenue passenger miles increased 40.8% from the second quarter of 2003 to 3.9 billion. Yield per passenger mile was 7.86 cents, down 7.4% compared to 2003 on a 6.5% increase in average length of haul. Operating revenue per available seat mile (RASM) decreased 8.1% year-over-year to 6.87 cents. Available seat miles grew 42.2% to 4.7 billion. Operating expenses for the second quarter were $274.6 million, up 37.9% from the second quarter of 2003. Operating expense per ASM (CASM) for the second quarter 2004 decreased 3.0% year-over-year to 5.90 cents. During the quarter, realized fuel price was $0.97 per gallon, a 22.4% increase over second quarter 2003 realized fuel price of $0.79. JetBlue ended the second quarter with $549.7 million in cash and short-term investments.
Additionally, JetBlue yesterday executed agreements with both David Neeleman and Dave Barger extending the terms of their current employment contracts with the company. Mr. Neeleman's employment term has been extended through August, 2009; Mr. Barger's employment term has been extended through August, 2008.
agreement commitments (for those of you that thought
they were gonna bail out)
========================================
JetBlue Announces Second Quarter 2004 Earnings; Low-Fare Carrier Reports Fourteenth Consecutive Quarter of Profitability; Achieves 14.1% Operating Margin
7/22/2004 8:00:00 AM
NEW YORK, Jul 22, 2004 (BUSINESS WIRE) -- JetBlue Airways Corporation (JBLU) today reported its results for the second quarter 2004:
-- Operating revenues for the quarter totaled $319.7 million, representing growth of 30.7% over operating revenues of $244.7 million in the second quarter of 2003. -- Operating income in the quarter was $45.1 million, resulting in a 14.1% operating margin, compared to operating income of $45.5 million and an 18.6% operating margin in the second quarter of 2003. -- Net income for the quarter was $21.5 million, representing earnings of $0.19 per diluted share, compared with second quarter 2003 net income of $38.0 million, or $0.36 per diluted share. Net income for the second quarter of 2003 reflected the receipt of $22.8 million in compensation related to the Emergency War Time Supplemental Appropriations Act. Net of income taxes and profit sharing, this amounted to $11.5 million, or $0.11 per diluted share for the three months ended June 30, 2003."In a quarter characterized by the continuation of an extremely competitive revenue environment and high fuel prices, our strong cost containment resulted in a solid operating margin," said David Neeleman, JetBlue's Chairman and CEO. "Our model allows us to grow profitably despite the difficult environment, and we remain committed to our strategy of profitable expansion through our low cost structure and exceptional customer service. We're proud that 25 million customers across 27 cities have chosen to fly JetBlue, and we continue to strive to offer them the best in air travel: new planes with more comfort and legroom, the greatest inflight entertainment, frequent flights in key markets, an ever-expanding route system and pricing that makes sense; all of it delivered by our dedicated crewmembers who are key to our success."
During the second quarter of 2004, JetBlue achieved a completion factor of 99.9% of scheduled flights, identical to the second quarter of 2003. On-time performance, defined by the US Department of Transportation as arrivals within 14 minutes of schedule, was 84.1% in the second quarter of 2004 compared to 87.4% for the same period in 2003. JetBlue attained a load factor in the second quarter of 2004 of 84.5%, a decrease of 0.8 points on a capacity increase of 42.2% over the second quarter of 2003.
Dave Barger, President and COO, commented, "This quarter, our talented crewmembers provided award-winning service to 2.9 million customers. This was achieved while opening six new routes and four new cities, including our first international destination, operating our fleet an average of 13.7 hours daily, and accepting three new aircraft into the fleet. We are encouraged by this past quarter's performance yet continue to remind ourselves that we are only as good as our last arrival."
For the second quarter 2004, operating revenues increased by 30.7% over 2003 to $319.7 million. Revenue passenger miles increased 40.8% from the second quarter of 2003 to 3.9 billion. Yield per passenger mile was 7.86 cents, down 7.4% compared to 2003 on a 6.5% increase in average length of haul. Operating revenue per available seat mile (RASM) decreased 8.1% year-over-year to 6.87 cents. Available seat miles grew 42.2% to 4.7 billion. Operating expenses for the second quarter were $274.6 million, up 37.9% from the second quarter of 2003. Operating expense per ASM (CASM) for the second quarter 2004 decreased 3.0% year-over-year to 5.90 cents. During the quarter, realized fuel price was $0.97 per gallon, a 22.4% increase over second quarter 2003 realized fuel price of $0.79. JetBlue ended the second quarter with $549.7 million in cash and short-term investments.
Additionally, JetBlue yesterday executed agreements with both David Neeleman and Dave Barger extending the terms of their current employment contracts with the company. Mr. Neeleman's employment term has been extended through August, 2009; Mr. Barger's employment term has been extended through August, 2008.
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