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JetBlue Q1 profits fall

Dino D'Amore
By Dino D'Amore Apr 25, 2014 1 mins read
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JetBlue Q1 profits fall

During the first quarter of 2014, JetBlue Airways has posted a 71.4% drop in net profit to $4 million. CEO Dave Barger has cited the severe winter weather for the fall in profits after the airline was forced to cancel 4,100 flights.

JetBlue revenue rose by 3.8% to $1.35 billion, with expenses rising by 5.5% to $1.31 billion. Operating income dropped 30.5% to $41 million. Traffic numbers rose however, with first quarter passengers carried increasing by 1.8% to 8.66 billion RPMs on a 2.7% increase in capacity to 10.42 billion ASMs. JetBlue’s load factor dipped by 0.8 percentage points to 83.1%.

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