JetBlue Q2 net profit up 16.7%; emphasises focus on cost cuts
JetBlue Airways reported Q2 net income of US$211m, up 16.7% over a net profit of $181m in the 2016 June quarter and a solid turnaround from a 58.8% year-over-year (YOY) net income decline in the 2017 Q1. JetBlue executives credited higher-than-anticipated YOY second-quarter unit revenue growth and progress made in cost cutting. President and CE Robin Hayes said that JetBlue has achieved $45m in annual cost savings so far; the carrier’s ultimate goal is $250m-$300m in yearly cost savings by 2020. JetBlue’s Q2 revenue rose 12.1% YOY to $1.8b while expenses increased 11.9% to $1.5b, producing an operating profit of $354m, up 13% over operating income of $313m in the prior-year period. JetBlue noted that Q2 RASM increased 7% YOY to 12.93 cents. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-07-26/unaligned/jetblue-q2-net-profit-up-16-7-emphasises-focus-on-cost-cuts
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JetBlue Q2 net profit up 16.7%; emphasises focus on cost cuts
JetBlue Airways reported Q2 net income of US$211m, up 16.7% over a net profit of $181m in the 2016 June quarter and a solid turnaround from a 58.8% year-over-year (YOY) net income decline in the 2017 Q1. JetBlue executives credited higher-than-anticipated YOY second-quarter unit revenue growth and progress made in cost cutting. President and CE Robin Hayes said that JetBlue has achieved $45m in annual cost savings so far; the carrier’s ultimate goal is $250m-$300m in yearly cost savings by 2020. JetBlue’s Q2 revenue rose 12.1% YOY to $1.8b while expenses increased 11.9% to $1.5b, producing an operating profit of $354m, up 13% over operating income of $313m in the prior-year period. JetBlue noted that Q2 RASM increased 7% YOY to 12.93 cents. <br/>
