By Philip Newman
JetBlue Airways, a low-fare carrier based in Kew Gardens, has reported that its net income rose by 37 percent for the second quarter of the year at a time when many airlines have failed to make a profit.
JetBlue announced an operating margin of 18.6 percent for the second quarter on operating revenues of $149.3 million, up more than 90 percent from $78. 39 million in the same period of last year.
“I am very proud of JetBlue’s performance in our sixth consecutive profitable quarter,” said David Neeleman, chief executive officer of the airline, which began flying in February 2000.
“These strong results demonstrate JetBlue’s ability to offer profitably a superior travel experience at low fares. I believe it is our crew members’ commitment and dedication that will ensure the continuation of our success.”
JetBlue reported that:
Operating income for the latest April-June quarter was $27.7 million, up 151 percent from $11.038 million in the second quarter last year. The operating margin climbed 4.1 percentage points to 18.6 percent from 14.1 percent a year earlier.
Net income for the quarter was $14.6 million compared to second quarter 2001 net income of $10.7 million.
JetBlue said it improved its on-time performance to 85.8 percent compared to 81.2 percent for 2001. The airline had a record load factor of 84.1 percent on a capacity increase of 101.1 percent in the second period of this year and a 19.7 percent capacity increase over the first quarter of this year.
JetBlue also announced its “SuperFly” Web sale, offering fares starting at $19 up to $119 on flights booked on the airline’s Website www.jetblue.com. Such fares must be purchased on the Internet by Aug. 15 and are for travel between Sept. 4 and Nov. 5, 2002.
JetBlue flies out of John F. Kennedy International Airport to points in Florida, upstate New York, New Orleans, the West Coast, Vermont, Denver, Las Vegas, Salt Lake City and San Juan, Puerto Rico.
