JetBlue Announces 9.3% Operating Margin; First Profit in the First Quarter Since 2005

NEW YORK , April 23 /PRNewswire-FirstCall/ -- JetBlue Airways Corporation (Nasdaq: JBLU) today reported its results for the first quarter 2009: -- Operating income for the quarter was $73 million, resulting in a 9.3...


Second Quarter and Full Year Outlook

Looking ahead, for the second quarter of 2009, JetBlue expects to report an operating margin between eight and ten percent. Pre-tax margin for the quarter is expected to be between one and three percent. PRASM is expected to decrease between two and five percent year over year. RASM is expected to decrease between zero and three percent year over year. CASM is expected to decrease between six and eight percent over the year-ago period. Excluding fuel, CASM in the second quarter is expected to increase between 15 and 17 percent year over year. Capacity is expected to decrease between one and three percent in the second quarter and stage length is expected to decrease roughly seven percent over the same period last year.

For the full year 2009, JetBlue expects to report an operating margin between 11 and 13 percent. Pre-tax margin for the full year is expected to be between four and six percent. PRASM for the full year is expected to decrease between one and four percent year over year. RASM for the full year is expected to increase between one and negative two percent year over year. CASM for the full year is expected to decrease between eight and ten percent over full year 2008. Excluding fuel, CASM in 2009 is expected to increase between nine and 11 percent year over year. Capacity for the full year 2009 is expected to be in a range of negative one to positive one percent compared to 2008 and stage length is expected to decrease about four percent over full year 2008.

JetBlue will conduct a conference call to discuss its quarterly earnings today, April 23 , at 10:00 a.m. Eastern Time . A live broadcast of the conference call will be available via the internet at http://investor.jetblue.com.

About JetBlue

New York -based JetBlue Airways has created a new airline category based on value, service and style. Known for its award-winning service and free TV as much as its low fares, JetBlue is pleased to offer customers Lots of Legroom and super-spacious Even More Legroom seats. JetBlue introduced complimentary in-flight e-mail and instant messaging services on aircraft "BetaBlue," a first among U.S. domestic airlines. 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 53 cities with 600 daily flights. New service begins to Montego Bay, Jamaica on May 21 and to Los Angeles International Airport on June 17 . With JetBlue, all seats are assigned, all travel is ticketless, all fares are one-way, and an overnight stay is never required. For information or reservations call 1-800-JETBLUE (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. 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 the Company's Securities and Exchange Commission filings, including but not limited to, the Company's 2008 Annual Report on Form 10-K. We undertake no obligation to update any forward-looking statements to reflect events or circumstances that may arise after the date of this release.

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