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Strengthes And Weaknesses Of Jet Blue Airways Corporation

3711 words - 15 pages

Introduction
JetBlue Airways Corporation is an American low-cost regional airline company headquartered in Long Island City, New York. JetBlue Airways Corporation is a public company that is traded on the NASDAQ stock exchange under the ticker JBLU. According to Yahoo Finance, JetBlue operates in the Services Sector and Regional Airlines Industry. JetBlue’s main base is at John F. Kennedy International Airport, in Queens, New York. As of October 2013, JetBlue serves 84 destinations in 24 U.S. states and 12 countries throughout the Caribbean, South America and Latin America. As of December 31, 2012, JetBlue had approximately 12,124 employees.

Jetblue was originally founded in 1998 on the principle of offering a low-cost travel experience to its customers. To differentiate JetBlue from its main competitors, such as Southwest Airlines, Delta Airlines, and United Airlines, JetBlue began offering amenities such as in-flight entertainment, TV screens on the back of every seat and in-flight satellite radio, wireless aircraft data link service, and cabin surveillance systems, and voice communication. As quoted by JetBlue’s founder, David Neeleman, JetBlue seeks to “bring humanity back to air travel.”

JetBlue’s strong management team is led by its president and ceo, David Barger.

As of December 31, 2012, it operated a fleet of 127 Airbus A320 aircraft and 53 EMBRAER 190 aircraft.

Third Quarter 2013 Earnings Report
On October 29, 2013, JetBlue announced its third quarter results. For the third quarter 2013, JetBlue reported earnings of 21 cents per share, missing analyst estimates by a penny. However, earnings rose substantially from 14 cents earned in the corresponding quarter a year ago backed by cost control and increased focus on differentiated product offerings. (JetBlue, 2013)

Total operating revenue also climbed 10.2% year over year to $1,442 million and surpassed the Zacks consensus estimate of $1,439 million. The year-over-year growth was aided by the introduction of new services, fleet re-designing and expansion. (JetBlue, 2013)

Other Key Statistics:
Operating Statistics
• Airline Traffic, measured in revenue passenger miles, rose 5.4% year over year to 11.75 cents in the third quarter on 5.1% growth in capacity. Load factor (percentage of seats filled with passengers) increased 20 bps year over year to 85%
• Operating revenue per available seat mile (RASM) increased 5.0% year over year to 12.82 cents
• Yield per passenger mile in the third quarter increased 5.1% year over year to 13.83 cents in the third quarter. Passenger revenue per available seat mile grew 5.4% while operating revenue per available seat mile increased 5% year over year.

Financials:
• Unrestricted cash and short-term investments of $954.0 million.
• Revolving credit facility of $350 million
• Total debt, as of Sep 30, 2013, was $2.84 billion compared with $2.85 billion at the end of 2012
Expenses:
• Operating expenses increased 8.1% ($95million) year over year to...

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