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JetBlue third quarter profit falls

Oct. 26, 2011, New York, N.Y. - JetBlue says its third-quarter net income fell 41 per cent as higher fuel costs and bad weather offset higher revenue from fares and fees.


October 26, 2011
Carey Fredericks

The New York airline says it earned $35 million, or 11 cents per share, compared with $59 million, or 18 cents per share, a year ago.

Revenue rose 16 per cent to about $1.2 billion.

FactSet says analysts were expecting a profit of 13 cents per share on $1.18 billion in revenue.

JetBlue Airways Corp. says its fuel costs leapt 56 per cent in the July-September period from a year ago, while overall expenses rose 22 per cent. Maintenance costs rose 35 per cent.

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JetBlue's average fare was up about 9 per cent to $154.88 during the quarter.