Tag Archives: JetBlue Airways

JetBlue sets plan for 250+ daily flights at Fort Lauderdale-Hollywood including new Tallahassee service

JetBlue Airways Airbus A320-232 N605JB (msn 2368) (Boston Red Sox) FLL (Ian Bowley). Image: 959607.

JetBlue Airways has announced new service between Fort Lauderdale-Hollywood International Airport (FLL) and Tallahassee International Airport (TLH) beginning in January 2024, as the airline lays out new plans for more low-fare, high-value flights in South Florida.

After its planned combination with Spirit, JetBlue expects to reach more than 250 flights a day at Fort Lauderdale-Hollywood by 2027.

Broward County’s master plan for further development of Fort Lauderdale-Hollywood International Airport would enable JetBlue to grow to more than 250 daily flights. JetBlue has already committed support for a new Terminal 5 and is ready to partner with the airport on further expansion to increase capacity.

More Routes, More Choices for South Florida

JetBlue plans to combine with Spirit and further grow its Fort Lauderdale schedule over the coming years, ultimately reaching more than 250 daily departures by 2027 and making Fort Lauderdale-Hollywood an even more compelling choice for South Florida customers. While both carriers have had success in Fort Lauderdale, the combination between JetBlue and Spirit will unlock long-term opportunities to add domestic and international markets and routes that would not be possible otherwise:

  • JetBlue would offer flights to approximately 30 markets not served by either JetBlue or Spirit from Fort Lauderdale today and would add more flight frequencies to approximately 30 additional markets.
  • Fort Lauderdale will become an even more attractive alternative to Miami on more routes. From Fort Lauderdale, JetBlue and Spirit currently serve 66 of the top 100 markets available from Miami International Airport today (within range of existing and planned JetBlue fleet). After completing its planned expansion, JetBlue would serve from Fort Lauderdale approximately 90 of the top 100 Miami markets.
  • With a more competitive position in South Florida, JetBlue would plan to launch service between Fort Lauderdale and Europe with its game-changing transatlantic Mint and core experiences that have brought down high fares for European travel.
  • The larger network would make a number of routes viable that aren’t today, with examples including destinations like as Antigua; Belize; Cincinnati; Liberia, Costa Rica; Minneapolis; Memphis, Tenn.; and Savannah, Ga.

Commitment to South Florida and FLL’s Master Plan

JetBlue’s expansion plan, which will be bolstered by its planned acquisition of Spirit, underscores the airline’s long-term commitment to Florida and signals support for the airport’s master plan to further grow and develop airport facilities.

JetBlue estimates its plan would add approximately 1,000 incremental new jobs at the airline’s Fort Lauderdale operations, and further support economic activity across the region that will lead to additional job growth. In addition, JetBlue’s no furlough policy ensures that current Spirit team members who wish to stay with the combined airline will have a role with JetBlue. Today, JetBlue and Spirit employ nearly 13,000 people in Florida, with service to 10 airports across the state. JetBlue has committed to insourcing many jobs that Spirit currently outsources to third-party providers. In addition, JetBlue maintains a focus city at MCO, support center, and crewmember training campus in Orlando.

Top Copyright Photo: JetBlue Airways Airbus A320-232 N605JB (msn 2368) (Boston Red Sox) FLL (Ian Bowley). Image: 959607.

JetBlue Airways aircraft photo gallery:

JetBlue Airways aircraft photo gallery

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JetBlue’s pilots approve a two-year contract extension

ALPA made this announcement:

JetBlue Airways pilots, represented by the Air Line Pilots Association, Int’l (ALPA), have overwhelmingly approved a two-year contract extension that provides a compensation increase of 21.5 percent over 18 months, as well as other monetary improvements. With 95 percent of eligible pilots participating, 75 percent voted in favor of ratifying the tentative agreement reached in December.

In September 2022, the Company and JetBlue pilots entered expedited, short-term contract extension negotiations focused on achieving immediate economic improvements. On December 14, the two parties reached a tentative agreement that provided the pilots with three rate increases and a market rate adjustment that ensures JetBlue pilot pay remains in line with any compensation gains achieved by their peers at other airlines. JetBlue is currently in a potentially lengthy merger process. The agreement ratified today puts JetBlue pilots in a strong position for future negotiations for either a joint collective bargaining agreement with the pilots at Spirit Airlines or, should the merger fail to conclude, a comprehensive standalone collective bargaining agreement.

Top Copyright Photo: JetBlue Airways Airbus A320-232 WL N715JB (msn 3554) (Spotlight) LAX (Michael B. Ing). Image: 960005.

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JetBlue announces a fourth quarter net profit of $24 million

JetBlue Airways Corporation today reported its financial results for the fourth quarter of 2022.

“Thanks to the outstanding efforts of JetBlue’s crewmembers, we closed the year with strong fourth quarter performance, driving the highest full-year revenue result in our history, and solid cost execution as we hit our full-year cost target. We believe we’re well positioned to further build on that success in 2023, with a disciplined plan to continue strengthening our foundations – both operationally and financially,” said Robin Hayes, JetBlue’s Chief Executive Officer.

“We expect to gain further momentum in the business in 2023 with solid revenue performance throughout the year as we execute on our commercial initiatives and maintain a strong focus on cost control. Together, we expect these efforts to deliver margins approaching pre-pandemic levels as we move through the year, as we continue on a path to drive sustainable long-term earnings expansion and create long-term value for all stakeholders.”

Fourth Quarter 2022 Financial Results

  • Net income for the fourth quarter of 2022 under Generally Accepted Accounting Principles (GAAP) of $24 million or $0.07 per share. Excluding one-time items, adjusted net income for the fourth quarter of 2022 of $72 million(1) or $0.22 per share.
  • Fourth quarter of 2022 capacity increased by 2.4% compared to the fourth quarter of 2019.
  • Operating revenue of $2.4 billion for the fourth quarter of 2022, the highest fourth quarter operating revenue in company history.
  • Revenue per available seat mile (RASM) increased 16.1% for the fourth quarter of 2022 compared to the fourth quarter of 2019, despite a negative impact from Hurricane Nicole.
  • Operating expenses per available seat mile (CASM) for the fourth quarter of 2022 increased 28.4% compared to the fourth quarter of 2019.
  • Operating expense per available seat mile, excluding fuel and related taxes, other non-airline operating expenses, and special items (CASM ex-Fuel)(1) for the fourth quarter of 2022 increased 9.9%(1) compared to the fourth quarter of 2019, resulting in industry leading unit cost performance.
  • Fuel price in the fourth quarter of 2022 of $3.70 per gallon, including hedges.

Balance Sheet and Liquidity

  • $1.6 billion in unrestricted cash, cash equivalents, short-term investments, and long-term marketable securities at quarter-end (excluding our $600 million undrawn revolving credit facility).
  • Maintained an adjusted debt to capital ratio of 52%(1) as of December 31, 2022.
  • Paid approximately $114 million in debt and finance lease obligations during the fourth quarter of 2022.

2022 Key Highlights

  • Returned to profitability in the second half of 2022 with revenue growth at record levels, combined with an acute focus on maintaining an optimal low-cost structure.
  • Delivered an excellent operation in the fourth quarter, including an industry-leading completion factor of 98.2% in December. This was despite the impact of Hurricane Nicole and Winter Storm Elliott.
  • Added flights in New York and Boston as the Northeast Alliance (NEA) continues to bring low fares and great service to more communities, and boost competition in the region.
  • Continued ramping up our transatlantic franchise to five daily flights between the Northeast and London, and announced new service to Paris.
  • Became the anchor tenant at Orlando International Airport’s new Terminal C, moved operations at LaGuardia Airport into the new, world-class Terminal B, and signed an agreement to become a minority investor in John F. Kennedy International Airport’s Terminal 6.
  • Introduced the new TrueBlue® loyalty program, bringing added value and new perks to a broad set of customers.
  • Continued to lead the industry in sustainability. Announced our validated science-based emissions reduction target, with a plan that would effectively reduce our per-seat emissions in half by 2035 from 2019 levels. Also announced a new agreement with Fidelis New Energy to supply 92 million gallons of sustainable aviation fuel (SAF) over a five-year term with a target start date of 2025, bringing meaningful progress toward our goal to convert 10% of our jet fuel to SAF by 2030.
  • Recognized by “The Points Guy” with an Editors’ Choice Award for Best Economy Class in the world and by “Business Traveler USA” as Best Budget Airline.

Outlook

“As we kick off 2023, we’re pleased to see the demand environment remain solid into the seasonally trough period of the year,” said Joanna Geraghty, JetBlue’s President and Chief Operating Officer.

“We’re excited to continue building on last year’s record performance as we look at another strong year of revenue growth, underpinned by multiple network and commercial initiatives, including strong earnings accretion from the NEA as our markets mature. We also continue to make progress on our multi-year path to grow our loyalty revenue stream as a percentage of our total revenue base and close the gap to best in class loyalty performance.”

First Quarter and Full-Year 2023 OutlookEstimated 1Q 2023Estimated FY 2023
Available Seat Miles (ASMs) Year-Over-Year5.5% – 8.5%5.5% – 8.5%
Revenue Year-Over-Year28% – 32%High Single Digits to Low Double Digits
CASM Ex-Fuel(2) (Non-GAAP) Year-Over-Year2% – 4%1.5% – 4.5%
Estimated Fuel Price per Gallon(3)$3.20 – $3.35(4)$2.95 – $3.15
Interest Expense$40 – $50 million$200 – $210 million
Adjusted (Loss)/Earnings per Share($0.45) – ($0.35)$0.70 – $1.00

Top Copyright Photo: JetBlue Airways Airbus A321-231 WL N947JB (msn 6448) (Ribbons) LAX (Michael B. Ing). Image: 959981.

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