JetBlue in USD4m swing to profitability in 1Q2011 as revenues exceed expectations

JetBlue followed fellow low-cost carrier Southwest in posting a profit for the first quarter, when it reported USD3 million in net income, a USD4 million swing from the USD1 million net loss posted in 1Q2010. "Despite significantly higher fuel prices, we are pleased to report a profit in the first quarter," said CEO Dave Barger of the addition USD91 million in fuel costs. "Our first quarter results demonstrate the success of our Boston and Caribbean network which continue to deliver strong revenue performance." [2187 words]

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This report contains the following subheadings:

• Rising fares and demand
• Strategic growth
• Rising revenue, yield, PRASM and loads
• Fuel Expense and Hedging
• Guidance