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JetBlue Reports First Month Of Profitability, Releases Six-Month Performance Figures, And Flies 500,000th Passenger

Of 4,328 Flights, 99.8% Completion Factor and 80.25% On-Time

New York, NY, 09/28/2000 -- “Rarely does a new airline become profitable so quickly,” said David Neeleman. “Our plan projected a significant profit in August and we performed according to plan. It is clear from these results that travelers to and from New York really appreciate our low fares, friendly employees, new aircraft and leather seats each with DirectTV. I am so proud of the entire JetBlue Team for all the hard work they’ve given to achieving this goal.”

Since commencing service on February 11, JetBlue operated 4,328 flights through August 31, 2000, with only 10 flights cancelled. The airline recorded an overall on-time performance of 80.25%* for its first six months of operation, compared to an average of 73.6% for the ten largest carriers from January through June, 2000.

JetBlue’s completion factor, that is the percentage of scheduled flights that actually flew to their destination, was 99.8%, compared to an average of 96.6% reported by the ten largest carriers between February and June, 2000. (The United States Department of Transportation began requiring airlines to report “completion factor” from February, 2000.)

The U.S. Department of Transportation has received a total of three complaints to date about JetBlue, which equals approximately 0.6 complaints per 100,000 enplanements. By comparison, the ten largest carriers averaged nearly five times this number, with 2.99 complaints per 100,000 enplanements between January and June, 2000. Further, JetBlue recorded a total of 2.7 mishandled bags per 1,000 enplanements through August 31, compared to an average of 5.04 for the ten largest carriers from January through June, 2000.

JetBlue carried 490,101 passengers on its 162-seat Airbus A320 aircraft through August 31, which translated to a system-wide passenger load factor of 71.6%. During Labor Day weekend, the airline boarded its 500,000th passenger. Through August 31, JetBlue’s involuntary denied boardings numbered just 0.06 per 10,000 passengers, compared to an average of 1.08 per 10,000 passengers for the ten largest carriers from January through June, 2000.

“The entire JetBlue Team has performed exceedingly well,” said Dave Barger, JetBlue’s President and Chief Operating Officer. “The operational performance figures would be very impressive for an established airline but they are spectacular for an airline that began flying just over seven months ago, especially considering the difficult weather conditions experienced this summer along the East Coast.”

“The results speak to our partnership with the FAA and the Port Authority with their ongoing $9 billion redevelopment of JFK, and they speak volumes about the reliability of our brand new, state-of-the-art, environmentally-friendly Airbus A320 aircraft and IAE’s V2500 engines. But most importantly, our operating statistics demonstrate the incredible commitment of our crew members who are dedicated to providing an outstanding travel experience at very affordable fares.”

Since JetBlue first opened for business in January, the airline has taken more than one million phone calls on its 1-800 JETBLUE reservations lines, and has booked more than 25 percent of all travel over its website at www.jetblue.com.

JetBlue recently strengthened its already strong financial position with the commitment of an additional $30 million in equity capital from existing JetBlue shareholders. This new transaction brings the total equity committed to JetBlue to $160 million, by far the most raised by a start-up airline in U.S. aviation history.

“My philosophy is that you can never have too much cash in the airline business,” noted CEO David Neeleman. “This additional equity commitment from our shareholders is a great vote of confidence in JetBlue. Each of our institutional investors elected to participate in its full pro-rata share. We are especially pleased that this new equity was priced significantly higher than the initial equity that we raised. This higher valuation reflects the impressive performance of JetBlue.”

JetBlue currently operates 48 flights a day with a fleet of eight new A320 aircraft featuring LiveTV at every seat, roomy all-leather seating and spacious overhead bins. JetBlue will serve 12 cities by the end of the year with 10 new environmentally-friendly aircraft.

From New York’s John F. Kennedy International Airport, the airline flies five times daily to Buffalo, NY; four times daily to Rochester, NY, and Fort Lauderdale, FL; three times daily to Orlando and Tampa, FL; twice daily service to Burlington, VT; and daily to Los Angeles/Ontario and Oakland, CA. JetBlue will introduce daily service to West Palm Beach on October 18, becoming twice daily on November 18, and also to Salt Lake City, UT, and Fort Myers, FL, on November 17 and 18, respectively.

All JetBlue seats are assigned, all travel is ticketless, all fares are one-way, and a Saturday night stay is never required. For more information, schedules, and fares, please visit our website at www.jetblue.com or call JetBlue reservations at 1-800–JETBLUE (538-2583).

* The United States Department of Transportation defines on-time as arriving within 14 minutes of schedule.

 

CONTACT:

JetBlue Corporate Communications
718-709-3089
corporatecommunications@jetblue.com