JetBlue Airways Reports December Traffic

JetBlue Airways Reports December Traffic

JetBlue Airways Reports December Traffic

PR Newswire

NEW YORK, Jan. 18, 2011 /PRNewswire/ -- JetBlue Airways Corporation (Nasdaq: JBLU) reported its preliminary traffic results for December 2010.  Traffic in December increased 3.7 percent from December 2009, on a capacity increase of 1.1 percent.

Load factor for December 2010 was 82.1 percent, an increase of 2.1 points from December 2009.  JetBlue's preliminary completion factor was 91.5 percent and its on-time (1) performance was 58.6 percent.  "JetBlue's operating performance was adversely impacted by snowstorms in the Northeast during the last week of December, resulting in the cancellation of approximately 1,400 flights over a five-day period," said Dave Barger, JetBlue's CEO.  "Due to high load factors over the peak holiday travel period, we were unable to re-accommodate many customers on other flights and recapture revenue.  Despite these challenges, JetBlue's crewmembers did an excellent job of taking care of our customers."

JetBlue's preliminary passenger revenue per available seat mile (PRASM) for the month of December increased three percent year over year and was primarily impacted by two items.  The severe weather in the Northeast reduced JetBlue's passenger revenue by approximately $30 million, which is included in the December PRASM estimate, and reduced operating income for the fourth quarter by about $25 million.

JetBlue previously disclosed that it expected to record approximately $15 million of non-cash revenue in December, related to the expiration of TrueBlue points resulting from the migration to a new customer loyalty program.  Upon further review, and as discussed in JetBlue's Current Report on Form 8-K issued earlier today, $12 million of this TrueBlue revenue will now be recorded in the period from 2006 through 2009, during which the points expired.  JetBlue now estimates that approximately $6 million in expired TrueBlue points will be included in December 2010 passenger revenue.  Pending completion of its review, JetBlue has excluded the revenue impact of expiring TrueBlue points from the year over year December 2010 PRASM estimate.

JETBLUE AIRWAYS TRAFFIC RESULTS



December 2010

December 2009

% Change

Revenue passenger miles (000)

2,363,988

2,280,201

3.7%

Available seat miles (000)

2,879,697

2,848,699

1.1%

Load factor

82.1%

80.0%

2.1 pts.

Revenue passengers

2,040,267

1,960,367

4.1%

Departures

18,882

18,438

2.4%

Average stage length

1,092

1,098

(0.5)%


Y-T-D 2010

Y-T-D 2009

% Change

Revenue passenger miles (000)

28,279,450

25,955,397

9.0%

Available seat miles (000)

34,743,749

32,557,502

6.7%

Load factor

81.4%

79.7%

1.7 pts.

Revenue passengers

24,253,933

22,449,945

8.0%

Departures

225,501

215,526

4.6%

Average stage length

1,100

1,076

2.2%



(1) The U.S. Department of Transportation considers on-time arrivals to be those domestic flights arriving within 14 minutes of schedule.

New York-based JetBlue Airways has created a new airline category based on value, service and style.  In 2010, the carrier ranked "Highest in Customer Satisfaction Among Low-Cost Carriers in North America" by J.D. Power and Associates, a customer satisfaction recognition received for the sixth year in a row.  Known for its award-winning service and free TV as much as its low fares, JetBlue offers the most legroom in coach of any U.S. airline (based on average fleet-wide seat pitch) and super-spacious Even More Legroom seats.  JetBlue is also America's first and only airline to offer its own Customer Bill of Rights, with meaningful and specific compensation for customers inconvenienced by service disruptions within JetBlue's control.  Visit www.jetblue.com/promise for details. JetBlue serves 63 cities with 600 daily flights.  The airline intends to serve Providenciales, Turks & Caicos Islands in February 2011 and Anchorage, Alaska in May 2011.  With JetBlue, all seats are assigned, all fares are one-way, and an overnight stay is never required.  For information or reservations call 1-800-JET-BLUE (1-800-538-2583), TTY/TDD 1-800-336-5530 or visit www.jetblue.com.

This press release contains statements of a forward-looking nature which represent our management's beliefs and assumptions concerning future events. When used in this document and in documents incorporated herein by reference, the words "expects," "plans," "anticipates," "indicates," "believes," "forecast," "guidance," "outlook," "may," "will," "should," "seeks," "targets" and similar expressions are intended to identify forward-looking statements. Forward-looking statements involve risks, uncertainties and assumptions, and are based on information currently available to us. Actual results may differ materially from those expressed in the forward-looking statements due to many factors, including, without limitation, our extremely competitive industry; volatility in financial and credit markets which could affect our ability to obtain debt and/or lease financing or to raise funds through debt or equity issuances; increases in fuel prices, maintenance costs and interest rates; our ability to implement our growth strategy, including the ability to operate reliably the EMBRAER 190 aircraft and our new terminal at JFK; our significant fixed obligations; our ability to attract and retain qualified personnel and maintain our culture as we grow; our reliance on high daily aircraft utilization; our dependence on the New York metropolitan market and the effect of increased congestion in this market; our reliance on automated systems and technology; our being subject to potential unionization; our reliance on a limited number of suppliers; changes in or additional government regulation; changes in our industry due to other airlines' financial condition; a continuance of the economic recessionary conditions in the U.S. or a further economic downturn leading to a continuing or accelerated decrease in demand for domestic and business air travel; and external geopolitical events and conditions. Further information concerning these and other factors is contained in JetBlue's Securities and Exchange Commission filings, including but not limited to, JetBlue's Annual Report on Form 10-K for the year ended December 31, 2009 and Quarterly Reports on Form 10-Q. We undertake no obligation to update any forward-looking statements to reflect events or circumstances that may arise after the date of this release.

SOURCE JetBlue Airways Corporation

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