April 27, 2012
Discount airline JetBlue Airways topped estimates for first-quarter profit, as average fares increased and it was able to offset higher expenses with rising revenue.
Net income came to USD$30 million, compared with USD$3 million a year earlier.
Quarterly revenue rose about 19 percent to USD$1.2 billion.
Overall expenses rose 15 percent, with costs for fuel and related taxes up 22.7 percent.
In a statement, New York-based JetBlue noted "continued success in attracting higher-yielding business traffic, particularly in Boston."
JetBlue also said Mark Powers, who had been named interim chief financial officer last year when Ed Barnes resigned, was appointed to that post on a permanent basis.
