JetBlue Airlines 2004 Annual Report Download - page 48

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Three Months Ended
March 31, June 30, September 30, December 31,
2004 2004 2004 2004(1)
Statements of Income Data
(dollars in thousands)
Operating revenues ........................ $289,003 $ 319,718 $ 323,215 $ 334,036
Operating expenses:
Salaries, wages and benefits ................ 77,584 83,902 86,255 89,377
Aircraft fuel ............................ 49,245 57,430 68,499 80,192
Landing fees and other rents ................ 21,517 21,868 24,699 23,097
Depreciation and amortization .............. 16,316 17,441 19,550 23,233
Aircraft rent ........................... 17,255 17,740 17,553 17,668
Sales and marketing ...................... 13,424 18,342 14,657 16,775
Maintenance materials and repairs ........... 12,497 8,391 11,518 12,495
Other operating expenses .................. 48,501 49,516 57,499 58,993
Total operating expenses ................. 256,339 274,630 300,230 321,830
Operating income ......................... 32,664 45,088 22,985 12,206
Other income (expense) ..................... (6,900) (8,574) (9,175) (11,472)
Income before income taxes .................. 25,764 36,514 13,810 734
Income tax expense (benefit) ................. 10,571 15,056 5,387 (1,659)
Net income .............................. $ 15,193 $ 21,458 $ 8,423 $ 2,393
Operating margin ......................... 11.3% 14.1% 7.1% 3.7%
Operating Statistics:
Revenue passengers ........................ 2,650,073 2,920,697 3,033,338 3,178,517
Revenue passenger miles (000) ................ 3,372,295 3,935,385 4,196,006 4,226,616
Available seat miles (ASMs) (000) ............. 4,218,520 4,656,795 4,940,080 5,095,656
Load factor .............................. 79.9% 84.5% 84.9% 82.9%
Breakeven load factor(2) .................... 73.0% 74.3% 80.8% 82.4%
Aircraft utilization (hours per day) ............. 13.3 13.7 13.6 13.2
Average fare ............................. $ 105.51 $ 105.86 $ 102.73 $ 100.79
Yield per passenger mile (cents) ............... 8.29 7.86 7.43 7.58
Passenger revenue per ASM (cents) ............ 6.63 6.64 6.31 6.29
Operating revenue per ASM (cents) ............ 6.85 6.87 6.54 6.56
Operating expense per ASM (cents) ............ 6.08 5.90 6.08 6.32
Airline operating expense per ASM (cents)(2) ..... 6.05 5.84 6.00 6.24
Departures .............................. 20,845 22,145 22,893 24,649
Average stage length (miles) .................. 1,297 1,348 1,383 1,325
Average number of operating aircraft during period . 55.3 58.6 61.8 66.5
Average fuel cost per gallon .................. $ 0.92 $ 0.97 $ 1.08 $ 1.24
Fuel gallons consumed (000) ................. 53,725 59,370 63,466 64,526
Percent of sales through jetblue.com during period . 76.9% 75.2% 75.0% 74.7%
Full-time equivalent employees at period end(2) . . . 5,292 5,718 6,127 6,413
(1) During the fourth quarter of 2004, we recorded additional passenger revenue of $3.5 million to
recognize expired customer credits based on stated terms. We also recorded other non-recurring
charges totaling $2.0 million.
(2) Excludes results of operations and employees for LiveTV, LLC, which are unrelated to our airline
operations.
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