JetBlue Reports Second Quarter Results

jetblueFaced with higher operating costs, JetBlue Airways Corporation reported its results for the second quarter of 2013 including a drop in operating income for the quarter to $102 million, resulting in a 7.6 percent operating margin, compared to operating income of $130 million and a 10.2 operating margin in the second quarter of 2012.

JetBlue said pre-tax income was  $60 million in the second quarter. This  compares to pre-tax income of $86 million in the second quarter of 2012. 

Net income for the second quarter was $36 million  compared to JetBlue's second quarter 2012 net income of $52 million.

"Today, we reported our thirteenth consecutive quarter of profitability," said Dave Barger, JetBlue's president and CEO. "Although second quarter results were negatively impacted by a sluggish economic environment and continued maintenance cost pressures, our crewmembers remained focused on running a safe, reliable airline and delivering excellent service to our customers.  We believe we are well positioned to expand margins in the second half of the year as we expect maintenance cost pressures to lessen and unit revenue performance to improve."  

"While we are disappointed to report a decline in year over year unit revenue performance during the quarter, we are encouraged by recent revenue trends and the success of our initiatives to attract and retain high-value customers," said Robin Hayes, JetBlue's chief commercial officer.

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