JetBlue announces that traffic fell 7.1% and capacity fell 5.1% in January 2009 compared to January 2008.
JetBlue pilots fail to get enough votes to form a union after a 3-month attempt. Only 33% of the pilots voted in favor of the union, which needed over 50% approval to form. http://biz.yahoo.com/ap/090203/jetblue_union.html?.v=3
Crude oil prices dropped $1.58 on 12/24 to $37.40/barrel signaling improved profitability for airlines.
JBLU's November traffic declined 7.8% following an approximate 8% drop in revenue passenger miles. Additionally, JBLU's capacity declined by 6.3% during the month.
Citing weakening consumer demand for travel, JBLU reduced its 2008 growth estimates to 2%, from 3% previously. Additonally, the company believes that it will post negative growth numbers in Q4 2008 for the first time in the company's history.
Traffic dropped 5.4% in October 2008, following an 11.1% decrease in capacity from a year earlier. However, the company's load factor reached 80.7%, a 4.8% increase from October 2007. This contributed to JBLU's 28% increase in revenue per available seat mile in October.
JBLU reported a 17.9% increase in revenue during the quarter, which reached $902 million. However, the company's CASM increased 31.5% to 10.5 cents, driven primarily by a 60.8% increase in its fuel prices. As a result, JBLU's operating margin dropped to 2.4% in Q3 2008, down from 10.3% a year earlier.
JBLU's traffic in September 2008 decreased 4.8% from a year earlier, sparked by a capacity or ASM decrease by 11.5%.
JetBlue made a serious step in its already announced plans to offer internet access in its planes.
JBLU reported revenue of $816 million in Q1 2008, better than the predicted $785.9 million. However, it announced that it believes its Q2 operating margin will decrease to 1%-3% because of higher fuel prices, which will be about $3.09 per gallon.
JetBlue reports a mild loss for the fourth quarter. It beat analyst estimates, but validated industry bears stance on high fuel costs wiping out all potential profits.
Passengers were trapped in planes that should have been cancelled at JFK airport
