JetBlue Airways Corporation has reported USD 161m in fourth quarter 2019 net profit, beating analyst expectations despite a 5% decline year-on-year of USD 170 million in 2018, the company said.
The New York-based carrier during the fourth quarter reported USD 2 billion in operating revenue, up 3% year-on-year compared with USD 1.96 billion during the same quarter in 2018. Operating expenses rose by 3% year-on-year from USD 1.75 billion in 2018 to USD 1.8 billion during the fourth quarter.
Revenue per available seat mile (RASM) declined by 3% year-on-year during the fourth quarter. Cost per available seat mile excluding fuel (CASM ex-fuel) remained flat. Capacity rose 6% during the fourth quarter.
During the fiscal 2019 year, JetBlue reported USD 8 billion in operating revenue, up 6% from USD 7.7 billion for fiscal 2018. Operating expenses shrank 1% from USD 7.4 billion in fiscal 2018 to USD 7.3 billion in 2019. Net profit for fiscal 2019 tripled compared with 2018, rising from USD 189 million to USD 569 million. Capacity rose 7% during fiscal 2019.
The low-cost carrier said it remains committed to Puerto Rico amid earthquakes that have wracked the island, and will temporarily reduce capacity to destinations there to protect revenue per available seat miles. The carrier´s first-quarter guidance expecting a RASM increase of zero to 3% factors in decreased demand on Puerto Rico routes.