JetBlue Q1 profit rises on higher fares, lower taxes
JetBlue Airways said Tuesday that quarterly net income increased by 7% as higher fares and a lower US tax rate helped offset higher fuel and other costs. Net income rose to $88m from $82m in the year-ago period, boosted by a 6.8% increase in average fares and a 43.4% decrease in income tax expense. The airline said pretax income fell to $110m from $126m in Q1 2017, and its pretax margin declined 1.3% to 6.3%. “Since the end of 2017 demand has strengthened across our network, and we saw further close-in strength to end the quarter,” JetBlue Executive VP Marty St. George said. Close-in refers to the typically more expensive tickets purchased near the date of scheduled departure. Excluding fuel, JetBlue’s quarterly unit costs rose 3.1%, in line with its earlier forecast, and will grow between 2.0 and 4.0% in Q2, the airline said.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-04-25/unaligned/jetblue-q1-profit-rises-on-higher-fares-lower-taxes
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JetBlue Q1 profit rises on higher fares, lower taxes
JetBlue Airways said Tuesday that quarterly net income increased by 7% as higher fares and a lower US tax rate helped offset higher fuel and other costs. Net income rose to $88m from $82m in the year-ago period, boosted by a 6.8% increase in average fares and a 43.4% decrease in income tax expense. The airline said pretax income fell to $110m from $126m in Q1 2017, and its pretax margin declined 1.3% to 6.3%. “Since the end of 2017 demand has strengthened across our network, and we saw further close-in strength to end the quarter,” JetBlue Executive VP Marty St. George said. Close-in refers to the typically more expensive tickets purchased near the date of scheduled departure. Excluding fuel, JetBlue’s quarterly unit costs rose 3.1%, in line with its earlier forecast, and will grow between 2.0 and 4.0% in Q2, the airline said.<br/>
