Jetblue earnings

[learob]

Come on every one say it with me.

WHO's YOUR DADDY

just when I thought our earning could not get better.

3rd Quarter Operating revenue
up 65% to 273 million

Operating income
up 66% to 53.8 million

Operating Margin
19.7% (can you beleve that)

Net income
29 million

Load factor
87.7%

Completion Factor/On time percent
99.8/86.2 (and those with a 4 day black out in JFK)

 

[USNFDX]

Congrats

So now maybe they can afford to pay you guys a little better!

 

[Mr Hat]

Congrats man. Keep on going strong! I've got high hopes of being there one day and everytime I see good news about JetBlue it puts a smile on my face!

 

[jbucpt]

Re: Congrats

So now maybe they can afford to pay you guys a little better!

a true IGNORANT ALPA statement......

 

[USNFDX]

a true IGNORANT ALPA statement......

I am an ALPA member....But not a big fan of Unions....I view them kind a like auto insurance.....I hate paying for it, but I know I need it.

You see, they protect me against things like 8 in 24 (oops opened that can again)

Come on every one say it with me.

WHO's YOUR DADDY

just when I thought our earning could not get better.

Ya see when KooL BLUE Aid drinkers start blasting about how great they are doing, when so many others are on furlough, one can not simply ignore the fact that there is excess capacity in the system, which is exacerbated by LCCs like jet blue transfering high paying jobs to low paying jobs.

Fly Safe!

 

[Citrusflyer]

ATL

A little birdy told me y'all are pulling out of ATL completely by December, is that true?

 

[trainerjet]

Ya see when KooL BLUE Aid drinkers start blasting about how great they are doing, when so many others are on furlough, one can not simply ignore the fact that there is excess capacity in the system, which is exacerbated by LCCs like jet blue transfering high paying jobs to low paying jobs.

Fly Safe!

I tend to agree. You don't see pilots from say, Alaska Airlines, AirTran, SWA (not many, anyway)...etc....come on here crowing about the great numbers their companies just announced.

 

[buttercup]

Why is JB's stock down 9% today on such a strong earnings report?

 

[SpeedBird]

That's a true statement.

Just got finished listening to the CC and David Neeleman stated that between Delta and AirTran jetBlue was unable to make sufficient return on its investment when compared to other other more promising markets.

He stated that jetBlue could have remained in those markets and generate small, but sustainable profits. However, it wouldn't be in the best interests of jetBlue shareholders to continue to do so. For jetBlue Boston is a much bigger plum, therefore the movement of assets from Atlanta to support the new BOS-LGB service makes more sense.

Neeleman did leave the door open that ATL could be revisited at a later date with the EMB-190 which could allow jetBlue to operate high-frequency service into hubs like ATL with less risk, and better profitability for the airline.

Despite the strong numbers posted today, the markets were expecting a much bigger result. As of this posting JBLU stock is down over 7%. IMO, I think this is a good thing since this stock has had an incredible runup in price over the last 90 days without any meaningful pull-back until now.

For the year, jetBlue has earned just over $735mm in revenues with an average fleet size of approximately 45 aircraft. A truly remarkable accomplishment for such a small airline. They'll come real close to the magic $1 Billion mark for the year, and perhaps reach it, thus attaining "major" status.

For those interested in new aircraft deliveries, John Owen (CFO) stated that jetBlue is accelerating A320 deliveries for the remainder of this year and 2004. THe airline should have 53 aircraft on the property by the close of Q4. In 2004 the airline will add an additional 16 aircraft to the fleet for a total of 69 aircraft (my favorite number BTW!).

 

[BIGBROWNDC8]

call us "daddy..."

Jet blue is doing great, especially considering the amount of time that they have been in business. Time will be the true test of success... In the end, I hope "we all" do well...

That being said, if money and profit has anything to do with who should be called "Daddy", I guess we'll take the first spot in line for the title... This is a snipit of the entire press release located at:

http://ups.com/pressroom/us/press_releases/press_release/0,0,4348,00.html

Next step is getting our contract settled, then the starting of pilot hiring... Enjoy the read...

{For the quarter ended Sept. 30, 2003, consolidated revenue totaled US$8.31 billion, up 7.2% from the US$7.75 billion reported during the same period in 2002. Consolidated operating profit increased 21% to $1.15 billion. Net income totaled US$739 million, an increase of 28% over the prior year’s US$578 million. Excluding the gains due to the sale of the business unit and a favorable tax ruling, net income totaled US$702 million, an increase of 21%.}


{For the nine months ended Sept. 30, 2003, consolidated revenue increased 6.7% to US$24.55 billion, while operating profit rose 8.4% to US$3.17 billion. Net income climbed 21.5%, from US$1.68 billion to US$2.04 billion. Diluted earnings per share increased 21.6% to US$1.80.}

 

[KnightwhosaysNi]

Learlob,
Wow--he loves to toot his own horn doesn't he?

 

[SpeedBird]

Ya see when KooL BLUE Aid drinkers start blasting about how great they are doing, when so many others are on furlough, one can not simply ignore the fact that there is excess capacity in the system, which is exacerbated by LCCs like jet blue transfering high paying jobs to low paying jobs.

I need to raise the BS flag on this one.

It appears that some folks here believe it is a folly for others to celebrate in the financial success of their employer. How convenient it must be to pass it off as just naive and selfish hubris by a bunch of jetBlue "kool-Aid" drinkers.

Despite your assertions, nobody at jetBlue is dancing on the graves of those who've been trampled by this industry downturn. Quite the contrary, the vast majority of people at jetBlue are extremely grateful for their good fortune, and many have been given a new lease on life because of jetBlue's growth and success (i.e., former furloughees).

Perhaps (unlike many other airline employees) the reason jetBlue employees are happy to announce the success of their employer is due to the fact that they see themselves as an integral part of that success, and thus a reflection of their own performance, and because that many jetBlue employees are also shareholders in the company. These people have every right to celebrate and express their satisfaction in what should be embraced by everyone in this business. That being another small victory in an industry that has been decimated by unprecidented financial losses and wide-scale personal losses.

It seems in this case, that just as there may be a very small minority who finds glee in others' loss, there also seems to be those who are envious in the success of others. Both are equally wrong and should be recognized as such.

Finally, it is true that there is too much capacity in this business. But to say that doesn't adequately decribe its true nature. As always, the statement "it depends" applies in this case. If one looks at the capacity within specific market segments, the capacity issues runs contrary to itself.

Among the major hub and spoke carriers excess capacity is indeed a problem. If the major legacy carriers want to blame somebody they're better off turning inward among themselves to correct their problems. On the other hand LCC point-to-point carriers are faced with an under-capacity problem. Their business model has seen tremendous growth year over year despite substantial increases in new capacity. Just look at jetBlue's numbers in the most recent quarter. Despite a 66% increase in YOY capacity, load factors still increased to an industry high of 87.7%. With those kind of numbers you can bet that their was significant "spillage" to other carriers by passengers who wanted more low-cost ticket prices (thank-you Song!).

JetBlue, and others, will continue to grow capacity to respond to the still growing demand to their business model. To subscribe to the idea that they (with their impish fleet of 48 aircraft) are responsible for the "excess capacity" in other parts of the industry (and their associated ills) is truly naive and makes more reasonable people wonder who's really got their mugs charged with the proverbial "kool-aid."

 

[NYRANGERS]

Come on every one say it with me.

WHO's YOUR DADDY

just when I thought our earning could not get better.

3rd Quarter Operating revenue
up 65% to 273 million

Operating income
up 66% to 53.8 million

Operating Margin
19.7% (can you beleve that)

Net income
29 million

Load factor
87.7%

Completion Factor/On time percent
99.8/86.2 (and those with a 4 day black out in JFK)

I'm not sure why that doesn't iimpress wall street. Stock down almost 10%, down over $6. I'll never understand the stock market.

NYR

 

[JayDub]

I tend to agree. You don't see pilots from say, Alaska Airlines, AirTran, SWA (not many, anyway)...etc....come on here crowing about the great numbers their companies just announced.

Trainerjet,

This may scare the piss out of you but here goes; I totally agree with you. I, too, get real tired of people making obnoxious, taunting statements. It gets old, but then again, it is simply a matter of a vocal minority, I assure you. 99.9% of the people I work with day in and day out are just trying keeping their nose to the grind stone and do their jobs the best they can. Same as everywhere else. Remember Scott Glenn as Scott Sheppard in "The Right Stuff” reciting the pilot's prayer... "Please God, don't let me **ck up".

With that said, others on here do themselves absolutely no justice by reducing themselves down to someone else’s' immature level. Thanks, for at least one objective, clear voice without resorting to third grade playground retorts.

Take care.

Respectfully to all,

JayDub

 

[trainerjet]

JayDub,

Not scared. And thanks. I too, wish good luck to all. After all, what could be better for this industry than ALL companies doing well, and the bar being raised for everyone?

Take care.

 

[Flying Freddie]

It will be real nice when all pilots are tooting their horn and no one is furloughed!

I gotta get back to my kool-aid.

 

[de Pez]

Learob-

Pre-pubescent commentary like "Who's your daddy" is diametrically opposed to the attitude that I expected from a JB pilot. Particularly in an industry with so many individuals furloughed or taking pay cuts to stay solvent. I certainly hope that this isn't indicative of the entire JB pilot group's attitude. How would your CEO feel about your statements? Your hubris reminds me of the old football adage: "When you get to the endzone, try to look like you've been there before."

 

[Eagleflip]

Speedbird has a well thought out post, and I agree with his sentiments.

However, I have to agree with de Pez on this one. A little humility goes a long way in this business, and I for one am simply happy to have a job with a company that actually gives a rat's ass about their employees. Perhaps there are other ways of celebrating success without appearing to rub it in the face of those not as fortunate.

Making money or not, we are only as good as our last--and next--flight.

Food for thought.



(edited for gender accuracy...)

 

[SpeedBird]

Speedbird has a well thought out post, and I agree with her sentiments.

I guess this one is my fault. But if I ever came across before as a "woman" (no offense Skirt, et al.) I must correct the record and say that I still count myself part of the testosterone-generating side of the human species.

 

[Eagleflip]

HAHAHAHAHAHAHAHA! You slay me...

LOL. OK, ok, I will hereby edit my post.

Sir.