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JetBlue posts best quarterly airline profit since 2019
JetBlue Airways reported its second quarter financials, posting net income of $138 million for Q2.
It was the highest quarterly airline profit since 2019.
Revenue rose 6.7% to $2.61 billion.
However, the airline warned of a possible loss in the current third quarter.
It cited a shift toward international travel and the end of its Northeast alliance with American Airlines.
It slashed its overall 2023 airline profit outlook.
It expects Q3 revenue to be down as much as 8% from last year.
Its second quarter capacity increased by nearly 6% with operating revenue of $2.6 billion up almost 7% year-over-year.
During Q2, JetBlue launched daily service between New York JFK and Paris Charles de Gaulle.
It continued to add Caribbean flights with new routes to Puerto Rico and the announcement of service to Belize and St. Kitts and Nevis.
The airline’s focus is on completing a takeover of Spirit Airlines despite anti-trust action.
JetBlue also introduced a new TrueBlue loyalty program
“Our investments in the operation are making a difference and enabling us to recover more quickly as we manage through unforeseeable disruptions,” said Joanna Geraghty, Chief Operating Officer.
“Overall leisure demand trends are robust demand during peak periods, led by Latin America, visiting- and transatlantic travel.”
“We are taking action redeploying capacity to mitigate current challenges and improve margins.”
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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