It’s a `Nickles and Dimes Business’: JetBlue CFO

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Sept. 16 (Bloomberg) –- JetBlue CFO Mark Powers discusses getting the balance sheet healthy and adding wifi on flights. He speaks with Adam Johnson on Bloomberg Television's "Street Smart" (Source: Bloomberg)

It is c.f.o. week here on streetsmart.

Recently a new company polled introduced called "just one more, just one less." the goal is trying to make passengers happy as well as the company more profitable one flight at a time.

It is a very big business.

35 million passengers a year.

Really thin margins, if you look at our 201210 k. 30 million divided by our income.

You know, per passenger we made probably $4.5 maybe $5. those are really thin net margins.

In other words, everything makes a difference.

Where nothing ever happens, everything matters.

The little things matter.

Another gallon of gas saved.

It truly is a lot of big airplanes, a lot of big capital, but it is a nickels and dimes business.

The key is, we have some of the best crew members in the entire aviation business.

They are engaged.

They know they matter.

In fact, they must matter.

You are saves saving money.

But you are spending money.

What gave you the confidence to spend so much more money than you used to?

It is interesting.

Up until it -- 2006 -- he sade says i tapped the brakes.

I slammed the brakes.

We got back, got the balance sheet healthy, got cash flow sustainable.

And now that we have the balance sheet tweff from operations generation, we can grow.

You are taking delivery from some new aircraft.

You are almost starting to sound like a real airline.

We are a real airline.

The whole class target is devoted to that terrific traffic, what i call, letterman type of traffic, into -- new york into san francisco.

If we look at the numbers, our numbers are eroding on that because of the product and wifi.

We are going to eradicate both of those.

What took so long to get wifi?


You know, if you've been on other airlines, i won't name names, but they are using ku-band.

Ku-band -- k.a. band is as much as 12 per seat to the second.

You'll have nearly an in-home experience.

It's faster than ground to plane, isn't it?

It is much, much faster.

It is virtually at home.

Frankly, for anyone downloading "lawrence of arabia" that's a long flight.

But i think they are saying going second or flying first.

You are based here in new york.

200 of your crew members lost everything in hurricane sandy.

How are they doing?

I tell you, that was one of our more emotional times.

This is the time where the c.f.o. takes a back seat and let's everybody do the right thing.

Our crew members and employees are doing fine.

We put together on the week of the incident crew me members who were impacted, $5,000. just take care of your family.

In sharp contrast to a lot of people i know whose companies said i, "when are you coming in?" our calls to our employees were, what do you need?

A very different kind of airline.

Before i let you go, any thoughts on american airlines u.s. airways.

They are going to court to defend the merger?

Does that impact you in anyway?

You know, so we're going to focus on developing our assets.

There are a couple scenarios, if it does happen or doesn't happen, either way it is really pretty good for us.

My goal is to run our own business.

It's a fascinating case as a student of the law.

But my focus is on just running a great business.

That was jetblue c.f.o. mark powers.

This text has been automatically generated. It may not be 100% accurate.


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