JetBlue Airlines 2010 Annual Report Download - page 44

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Quarterly Results of Operations
The following table sets forth selected financial data and operating statistics for the four quarters ended
December 31, 2010. The information for each of these quarters is unaudited and has been prepared on the
same basis as the audited consolidated financial statements appearing elsewhere in this Form 10-K.
March 31,
2010
June 30,
2010
September 30,
2010
December 31,
2010
Three Months Ended
Statements of Operations Data (dollars in millions)
Operating revenues (1) ............................ $ 871 $ 940 $ 1,030 $ 938
Operating expenses:
Aircraft fuel and related taxes ..................... 254 279 292 290
Salaries, wages and benefits (2) . . . ................. 219 218 227 227
Landing fees and other rents ...................... 54 58 61 55
Depreciation and amortization ..................... 57 54 54 55
Aircraft rent . ................................. 31 31 31 33
Sales and marketing ............................ 40 43 47 49
Maintenance materials and repairs . ................. 39 41 44 48
Other operating expenses (3) ...................... 134 121 134 126
Total operating expenses . . ....................... 828 845 890 883
Operating income ................................ 43 95 140 55
Other income (expense) ........................... (44) (43) (43) (42)
Income (loss) before income taxes . . . ................. (1) 52 97 13
Income tax expense (benefit) . ....................... — 21 38 5
Net income (loss) ................................ $ (1) $ 31 $ 59 $ 8
Operating margin ................................ 4.9% 10.2% 13.6% 6.0%
Pre-tax margin . ................................. (0.2)% 5.6% 9.4% 1.5%
Operating Statistics:
Revenue passengers (thousands)...................... 5,528 6,114 6,573 6,039
Revenue passenger miles (millions) . . ................. 6,470 7,126 7,699 6,984
Available seat miles ASM (millions) . ................. 8,424 8,688 9,102 8,530
Load factor . . . ................................. 76.8% 82.0% 84.6% 81.9%
Aircraft utilization (hours per day) . . . ................. 11.8 11.8 12.0 11.0
Average fare. . . ................................. $142.16 $139.20 $141.79 $139.67
Yield per passenger mile (cents) ..................... 12.15 11.94 12.10 12.08
Passenger revenue per ASM (cents) . . ................. 9.33 9.79 10.24 9.89
Operating revenue per ASM (cents) . . ................. 10.33 10.83 11.32 11.00
Operating expense per ASM (cents) . . ................. 9.83 9.72 9.78 10.34
Operating expense per ASM, excluding fuel (cents) . ...... 6.81 6.51 6.57 6.95
Airline operating expense per ASM (cents) (4) ........... 9.62 9.55 9.53 10.15
Departures ..................................... 54,367 56,202 58,935 55,997
Average stage length (miles) . ....................... 1,102 1,102 1,103 1,093
Average number of operating aircraft during period. . ...... 151.0 151.0 153.4 158.4
Average fuel cost per gallon, including fuel taxes . . . ...... $ 2.19 $ 2.30 $ 2.26 $ 2.42
Fuel gallons consumed (millions)..................... 116 121 130 119
Full-time equivalent employees at period end (4) . . . ...... 11,084 10,906 10,669 11,121
(1) During the first quarter of 2010, we recorded $4 million of revenue related to our co-branded credit card
agreement guarantee.
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