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JetBlue Airways Q2 operating income 11%

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Staff Writer | July 27, 2016
JetBlue Airways Corporation reported its results for the second quarter 2016. Operating income of $313 million increased 11% over the second quarter of 2015.
JetBlue
JetBlue Airways   Pre-tax income was $289 million
Pre-tax income was $289 million in the second quarter, this is an increase of 15.7% over the second quarter of 2015. Net income was $180 million, or $0.53 per diluted share. This compares to JetBlue’s second quarter 2015 net income of $152 million, or $0.44 per diluted share.

JetBlue reported second quarter operating revenues of $1.6 billion. Revenue passenger miles for the second quarter increased 10.3% to 11.6 billion on a capacity increase of 11.1%, resulting in a second quarter load factor of 85.0%, a 0.6 point decrease year over year.

Yield per passenger mile in the second quarter was 12.87 cents, down 9.9% compared to the second quarter of 2015.

Passenger revenue per available seat mile (PRASM) for the second quarter 2016 decreased 10.5% year over year to 10.94 cents and operating revenue per available seat mile (RASM) decreased 8.2% year over year to 12.09 cents.

Compared with last year, operating expenses for the quarter were essentially flat. Interest expense for the quarter declined 12.8%, or $4 million, as JetBlue continued to reduce its debt.

JetBlue’s operating expense per available seat mile (CASM) for the second quarter decreased 9.9% year over year to 9.78 cents. Excluding fuel and profit sharing, second quarter CASM1 decreased 1.0% to 7.48 cents.


 

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