JetBlue 1Q 2017 operating income falls 57.9% compared to 2016

JetBlue Airways Corporation (NASDAQ: JBLU) has reported operating income of USD 147m for the first quarter 2017, a decline of 57.9% from the first quarter of 2016, the airline said.

First quarter net income of USD 85m, or USD 0.25 per diluted share, compares to JetBlue´s first quarter 2016 net income of USD 207m, or USD 0.61 per diluted share.

JetBlue reported first quarter operating revenues of USD 1.6 billion. Revenue passenger miles for the first quarter increased 3.9% to 11.4 billion on a capacity increase of 4.2%, resulting in a first quarter load factor of 83.9%, a 0.3 point decrease year over year.

Yield per passenger mile in the first quarter was 12.73 cents, down 5.5% compared to the first quarter of 2016. Passenger revenue per available seat mile (PRASM) for the first quarter 2017 decreased 5.8% year over year to 10.68 cents and operating revenue per available seat mile (RASM) decreased 4.8% year over year to 11.81 cents.

Compared with last year, operating expenses for the quarter increased 15%, or USD 190m. Interest expense for the quarter declined 13.5%, or USD 4m, as JetBlue continued to reduce its debt. JetBlue´s operating expense per available seat mile (CASM) for the first quarter increased 10.3% year over year to 10.73 cents. Excluding fuel, first quarter CASM1 increased 3.3% to 8.35 cents.

JetBlue carries more than 38 million customers a year to 101 cities in the U.S., Caribbean, and Latin America with an average of 1,000 daily flights.