JetBlue's passenger revenue increased 5.9 percent year over
year in the fourth quarter to $1.56 billion as its average fare rose 3.2
percent to $159.85.
The carrier is working to "add key destinations and
frequencies for our corporate customer base," president and CEO Robin
Hayes said. That will include new service from Boston to Minneapolis in May and
two new aircraft this year, featuring JetBlue's premium class Mint seating, for
service between Seattle and each New York and Boston. Currently, Mint accounts
for about 2 percent of JetBlue's available seat miles, EVP of commercial and
planning Marty St. George said.
Traffic rose 3.1 percent year over year in the fourth
quarter as JetBlue increased capacity 5.1 percent. Load factor declined 1.6
percentage points to 83.1 percent.
The carrier reported net income of $672 million for the
quarter, nearly four times what it reported in the fourth quarter of 2016. This
year's result reflects a revaluation of deferred tax liabilities following the
recently passed reduction to corporate tax rates. For the full year, JetBlue
reported net income of $1.15 billion, up 51.2 percent year over year.
RELATED:
JetBlue Q3 earnings