JetBlue Appoints Steve Priest as Vice President, Structural Programs, Effective August 10, 2015
Aug 10 15
JetBlue announced the appointment of Steve Priest to the role of Vice President, Structural Programs. Priest joins JetBlue effective August 10, 2015 and will report to JetBlue's Chief Financial Officer, Mark Powers. In his new role, Priest will be responsible for leading many of JetBlue's large-scale strategic and structural initiatives. He will play a critical cross-functional role assisting the company in identifying new opportunities to drive key structural improvements and greater efficiency while balancing the needs of its customers and crewmembers. Priest will also have oversight of Fleet Programs, Continuous Improvement and Strategic Sourcing. Priest comes to JetBlue from British Airways, where he served most recently as Senior Vice President responsible for the carrier's transatlantic joint business with American Airlines, Iberia, and Finnair.
JetBlue Airways Corporation Announces Unaudited Consolidated Earnings and Operating Results for the Second Quarter and Six Months Ended June 30, 2015; Provides CapEx and Operating Guidance for the Third Quarter and Full Year of 2015
Jul 28 15
JetBlue Airways Corporation announced unaudited consolidated financial results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported total operating revenue was $1,612 million against $1,493 million a year ago. Operating income was $282 million against $141 million a year ago. Income before income tax was $250 million against $345 million a year ago. Net income was $152 million or $0.44 per diluted share against $230 million or $0.68 per diluted share a year ago. Net income excluding special items was $152 million or $0.44 per diluted share against $61 million or $0.19 per diluted share a year ago. Income before income taxes excluding special items was $250 million against $103 million a year ago.
For the six months, the company reported total operating revenue was $3,135 million against $2,842 million a year ago. Operating income was $535 million against $182 million a year ago. Income before income tax was $472 million against $351 million a year ago. Net income was $289 million or $0.84 per diluted share against $234 million or $0.69 per diluted share a year ago. Net income excluding special items was $289 million or $0.84 per diluted share against $66 million or $0.21 per diluted share a year ago. Income before income taxes excluding special items was $472 million against $110 million a year ago.
The company’s revenue passenger miles for the second quarter increased 8.7% to 10.5 billion on a capacity increase of 7.5%, resulting in a second quarter load factor of 85.6%, an increase of 1.0 points year over year. Yield per passenger mile in the second quarter was 14.28 cents, up 0.2% compared to the second quarter of 2014. Passenger revenue per available seat mile (PRASM) for the second quarter 2015 increased 1.4% year over year to 12.22 cents and operating revenue per available seat mile (RASM) increased 0.4% year over year to 13.17 cents.
For the six months, the company reported revenue passenger of 16,953,000 against 15,512,000 a year ago. Revenue passenger miles were 20,093 million against 18,294 million a year ago. Available seat miles were 23,656 million against 21,805 million a year ago. Load factor was 84.9% against 83.9% a year ago.
For the third quarter of 2015, the company reported CASM excluding fuel and profit sharing is expected to increase between 1.0% and 3.0% and capacity is expected to increase between 8.5% and 10.5%.
For the full year of 2015, the company lowering the top end of guidance, and now expect CASM excluding fuel and profit-sharing to only increase between 0% and 1.5%. That's versus prior guidance of between 0% and 2%. Capacity is expected to increase between 7.0% and 9.0% for the full year, consistent with prior guidance.
For the third quarter 2015, the company project total CapEx of $170 million with approximately $125 million related to aircraft.
For the full year 2015, the company continue to forecast 9 aircraft CapEx of $150 million to $200 million. Further expect total capital expenditures in 2015 of approximately $820 million to $870 million.
Southwest Airlines Reportedly Contemplates Merger
Jul 28 15
There is a possibility that Southwest Airlines Co. (NYSE:LUV) and its Chief Executive Officer Gary Kelly could be contemplating another merger in the not too distant future. According to sources, the three most likely merger targets are Alaska Airlines, Inc., Hawaiian Holdings Inc. (NasdaqGS:HA) and JetBlue Airways Corporation (NasdaqGS:JBLU). "Many of us are just sitting back waiting to see if it will be Hawaiian, Alaska or JetBlue," noted one source.