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 |
JETBLUE AIRWAYS CORP
Quarterly Income Statements
This information should be read in conjunction with the consolidated financial statements and related notes thereto included elsewhere in this report.
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|
Three
Months Ended |
|
|
|
March
31,
2002 |
|
June
30,
2002 |
|
September
30,
2002 |
|
December
31,
2002 |
|
|
|
(unaudited)
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|
Statements of Operations Data
(dollars in thousands): |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Operating revenues |
|
$ |
133,369 |
|
$ |
149,303 |
|
$ |
165,261 |
|
$ |
187,258 |
|
| Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Salaries, wages and benefits |
|
|
33,561 |
|
|
37,622 |
|
|
41,747 |
|
|
49,261 |
|
| |
Aircraft fuel |
|
|
12,984 |
|
|
16,983 |
|
|
21,170 |
|
|
25,134 |
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| |
Sales and marketing |
|
|
9,850 |
|
|
11,785 |
|
|
11,795 |
|
|
10,915 |
|
| |
Landing fees and other rents |
|
|
9,939 |
|
|
9,681 |
|
|
11,865 |
|
|
12,396 |
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| |
Aircraft rent |
|
|
9,491 |
|
|
10,298 |
|
|
10,061 |
|
|
10,995 |
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| |
Depreciation and amortization |
|
|
4,712 |
|
|
5,695 |
|
|
6,926 |
|
|
9,589 |
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| |
Maintenance materials and repairs |
|
|
1,905 |
|
|
1,506 |
|
|
2,733 |
|
|
2,782 |
|
| |
Other operating expenses |
|
|
27,549 |
|
|
28,026 |
|
|
36,503 |
|
|
34,745 |
|
| |
|
Total operating expenses |
|
|
109,991 |
|
|
121,596 |
|
|
142,800 |
|
|
155,817 |
|
| Operating income |
|
|
23,378 |
|
|
27,707 |
|
|
22,461 |
|
|
31,441 |
|
| Airline Stabilization Act compensation |
|
|
— |
|
|
— |
|
|
407 |
|
|
— |
|
| Other income (expense) |
|
|
(1,088 |
) |
|
(2,673 |
) |
|
(2,380 |
) |
|
(4,229 |
) |
| Income before income taxes |
|
|
22,290 |
|
|
25,034 |
|
|
20,488 |
|
|
27,212 |
|
| Income tax expense |
|
|
9,286 |
|
|
10,448 |
|
|
8,333 |
|
|
12,049 |
|
| Net income |
|
$ |
13,004 |
|
$ |
14,586 |
|
$ |
12,155 |
|
$ |
15,163 |
|
| Operating margin |
|
|
17.5 |
% |
|
18.6 |
% |
|
13.6 |
% |
|
16.8 |
% |
Operating Statistics: |
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|
|
|
|
|
|
|
|
|
|
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| Revenue passengers |
|
|
1,180,917 |
|
|
1,332,906 |
|
|
1,501,946 |
|
|
1,736,336 |
|
| Revenue passenger miles (000) |
|
|
1,304,275 |
|
|
1,625,536 |
|
|
1,888,151 |
|
|
2,017,866 |
|
| Available seat miles (000) |
|
|
1,614,670 |
|
|
1,932,113 |
|
|
2,227,254 |
|
|
2,465,901 |
|
| Load factor |
|
|
80.8 |
% |
|
84.1 |
% |
|
84.8 |
% |
|
81.8 |
% |
| Breakeven load factor |
|
|
68.8 |
% |
|
70.9 |
% |
|
75.5 |
% |
|
70.2 |
% |
| Aircraft utilization (hours per day) |
|
|
12.7 |
|
|
13.3 |
|
|
12.8 |
|
|
12.7 |
|
| Average fare |
|
$ |
109.31 |
|
$ |
108.26 |
|
$ |
106.69 |
|
$ |
104.56 |
|
| Yield per passenger mile (cents) |
|
|
9.90 |
|
|
8.88 |
|
|
8.49 |
|
|
9.00 |
|
| Passenger revenue per available seat
mile (cents) |
|
|
7.99 |
|
|
7.47 |
|
|
7.19 |
|
|
7.36 |
|
| Operating revenue per available seat
mile (cents) |
|
|
8.26 |
|
|
7.73 |
|
|
7.42 |
|
|
7.59 |
|
| Operating expense per available seat
mile (cents) |
|
|
6.81 |
|
|
6.29 |
|
|
6.41 |
|
|
6.32 |
|
| Departures |
|
|
9,439 |
|
|
10,090 |
|
|
11,245 |
|
|
13,370 |
|
| Average stage length (miles) |
|
|
1,056 |
|
|
1,182 |
|
|
1,223 |
|
|
1,138 |
|
| Average number of operating aircraft
during period |
|
|
22.2 |
|
|
24.6 |
|
|
28.4 |
|
|
32.8 |
|
| Full-time equivalent employees at period
end |
|
|
2,479 |
|
|
2,864 |
|
|
3,352 |
|
|
3,823 |
|
| Average fuel cost per gallon (cents) |
|
|
62.02 |
|
|
68.92 |
|
|
74.8 |
|
|
79.44 |
|
| Fuel gallons consumed (000) |
|
|
20,934 |
|
|
24,641 |
|
|
28,301 |
|
|
31,639 |
|
| Percent of sales through jetblue.com
during period |
|
|
55.1 |
% |
|
61.3 |
% |
|
65.1 |
% |
|
68.6 |
% |
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