JetBlue Airways has reported better-than-expected earnings and revenues in the first quarter of 2019.
Operating revenues came in at $1.87 million, up 6.7% from the number reported in the corresponding period last year.
However, the company stated that its quarterly earnings declined on a year-over-year basis due to high costs. With adjusted net income down 38% falling from $83 million to $51 million.
JetBlue also confirmed that it plans to begin flying to London from Boston and New York in 2021. The airline has converted 13 A321neo orders to the long-range A321LR model.
“We believe our work will position us for success into the next decade. Next year we anticipate the first delivery of our margin-accretive A220s, a game-changing aircraft to further help us reduce our unit costs, improve our margins and increase our EPS. We are thrilled that we recently converted 13 A321s in our order book to A321 LRs, and we expect to begin our European service by adding London from Boston and New York starting in 2021,” said Joanna Geraghty, JetBlue’s president and chief operating officer.