The FINANCIAL -- JetBlue Airways Corporation on April 24 reported its results for the first quarter 2018:
Diluted earnings per share of $0.27. This compares to JetBlue’s first quarter 2017 diluted earnings per share of $0.24 cents.
Pre-tax income of $110 million, a decrease of 9.2% from the first quarter of 2017.
Pre-tax margin of 6.3%, a 1.3 point decrease year over year.
Highlights from the First Quarter 2018
First quarter 2018 revenue per available seat mile (RASM) growth of 6.1%, year over year, including the net benefit from Holiday calendar placement.
Operating expenses per available seat mile, excluding fuel (CASM ex-fuel) of 3.1%, within the initial guidance range, despite a lower completion factor and offset by timing of maintenance expenses.
JetBlue signed a multi-year agreement with Pratt & Whitney for the purchase and maintenance of GTF engines, as work on the Structural Cost Program continues.
Key Guidance for the Second Quarter and Full Year 2018:
Capacity is expected to increase between 5.0% and 7.0% year over year in the second quarter 2018. For the full year 2018, JetBlue expects capacity to increase between 6.5% and 8.5%.
RASM growth is expected to range between (3.0)% and 0% for the second quarter 2018 compared to the same period in 2017.
CASM Ex-Fuel is expected to grow between 2.0% and 4.0% for the second quarter of 2018. For the full year 2018, JetBlue expects year over year CASM Ex-Fuel to be between (1.0)% and 1.0%.