JetBlue Airways' first-quarter operating revenues increased
13 percent year over year to $1.5 billion, a record-high first-quarter figure
for the carrier, as its executives reported "healthy demand" across
the carrier's network.
JetBlue reported net income of $137 million during the first
quarter, compared with $4 million in the first quarter of 2014. The carrier
increased its average fare by 3.7 percent year over year to $173.96, and yield rose
3.1 percent. Traffic increased 11.1 percent year over year and capacity 9.6
percent. As such, load factor increased 1.2 percentage points to 84.3 percent.
Mint, the premium-class product JetBlue launched last summer,
factored into the carrier's performance, as revenue per available seat mile on Mint
routes rose 20 percent compared with the first quarter of 2014, JetBlue
president and CEO Robin Hayes said Tuesday during an earnings call. Noting Mint's
strength among business travelers—it often sells out several days in advance of
flights—Hayes reiterated JetBlue's intention to expand the offering, though it still
is "evaluating additional markets."
While JetBlue already has announced it later this year will
add Mint on the mostly leisure routes to Aruba and Barbados, expansion likely also
will include routes with high corporate demand like Boston to both Los Angeles
and San Francisco.
JetBlue executive vice president of commercial
and planning Marty St. George added that the carrier is on track to launch its
three-tiered bundled fare structure, which excludes free checked bags at its
lowest level, sometime during the current quarter.