JetBlue's passenger revenue increased 8.7 percent year over year to $1.69 billion in the first quarter. The carrier faced an "eventful winter season" during the quarter; snowstorm-related cancellations in the Northeast added up to a 1 percent loss in capacity. But JetBlue's performance was buoyed by strength in Latin America and Caribbean markets, president and CEO Robin Hayes said. That strength includes Puerto Rico, where JetBlue continues to rebuild capacity after last year's Hurricane Maria. Capacity should reach its pre-hurricane level by this summer, Hayes said.
Overall, demand has strengthened across JetBlue's network since the beginning of this year, according to commercial and planning EVP Marty St. George.
JetBlue plans to increase capacity by between 6.5 percent and 8.5 percent this year, largely by adding to existing routes out of Boston and Fort Lauderdale. The carrier also will announce more transcontinental routes from the Los Angeles area this year, Hayes said.
Traffic rose 4.1 percent year over year during the first quarter as capacity increased 3.3 percent, pushing load factor up 0.7 percentage points to 84.6 percent. JetBlue's average fare increased 6.8 percent to $171.19.
JetBlue reported a net income of $88 million for the first quarter, up from $82 million in the first quarter of 2017.
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