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The company reported a Q4 adjusted loss of 19 cents, while analysts were looking for a loss of 27 cents per share. On the other hand, JetBlue exceeded average analyst expectations with its operating revenue.
The airline reported an operating revenue of $2.33 billion, surpassing the consensus estimate of $2.28 billion but down 3.7% from last year.
Meanwhile, operating costs per available seat mile, excluding fuel and related taxes, other non-airline operating expenses, and special items, experienced a 7.6% increase compared to the previous year. Including fuel, expenses fell 2.4%.
“We closed the year on a strong note thanks to the hard work and continued execution of our team as fourth quarter revenue and costs beat our expectations,” said Robin Hayes, JetBlue’s chief executive officer.
“Looking ahead, I am confident that the next chapter of JetBlue, under Joanna’s leadership, will deliver a refreshed focus on our core customer, expanded opportunities for our crewmembers, and a return to JetBlue’s historical earnings power for our shareholders.”
Specifically, passenger operating revenue was $2.17 billion, higher than the anticipated $2.13 billion. JetBlue also reported available seat miles at 17.01 billion, which was above the estimated 16.86 billion.
However, revenue passenger miles came in at 13.63 billion, slightly below the estimated 13.85 billion. The average passenger fare for the quarter was notably higher at $211.83, exceeding the estimate of $199.47. The yield per passenger mile was reported at 15.89 cents.
