JetBlue Airlines 2011 Annual Report Download - page 12

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Our Value Proposition
Our mission is to bring humanity back to air travel. We continue to work toward our goal to become “the
Americas’ Favorite Airline” – for our employees (whom we refer to as Crewmembers), customers and
shareholders. We believe achieving this goal is dependent upon continuing to provide superior customer service
in delivering the JetBlue Experience while maintaining financial strength and a cost structure that enables
profitable growth in the markets we serve. To do this, we aim to leverage three main building blocks of our
business model: culture, offerings and foundations. Culture involves our people and we believe ours is one of our
key differentiators in the airline industry. Offerings encompass how and where we offer the JetBlue Experience
to our customers and other stakeholders through our strong network and award-winning product and service.
Foundations are the basis upon which our airline runs, including processes and systems, and a strong financial
foundation, with a strong balance sheet, liquidity and cost structure. We strive to maintain our strong and vibrant
service-oriented company culture built around our five key values: Safety, Caring, Integrity, Fun and Passion.
Our History
JetBlue began operations in 2000 as a well-funded start-up, which afforded us the ability to make significant
investments in our product offerings, including all new aircraft equipped with leather seats and LiveTV. This
product investment combined with superior customer service at low fares led to early success, predominantly
with leisure travelers in New York. By the end of 2006, JetBlue employed over 10,000 Crewmembers, operated
500 daily flights with a fleet of 119 aircraft and generated annual revenues exceeding $2 billion. However, a
heavy debt load taken on to finance our rapid growth, a wide-spread economic recession and record high energy
prices led to two consecutive years of annual losses. It was clear that this rate of growth, as then reflected in our
aircraft order book, if not interrupted, was unsustainable. We adjusted our business model first by selling used
aircraft and by significantly reducing and deferring a portion of our aircraft order book. Additionally, we began
to invest in offerings targeted to attract a higher mix of business travelers, particularly in Boston.
We are the only major U.S. airline which began operations post-deregulation to survive into a second
decade of operation on our own. Our continued success is dependent upon our ability to adapt to an ever-
changing environment and we believe we are well positioned to do just that.
Culture
We believe one of our competitive strengths is our service-oriented culture. Our company culture places
value upon and stresses the importance of providing high quality customer service through a productive, engaged
workforce that helps keep our costs low and, ultimately, achieve our financial goals. Our success depends on our
people and their capabilities, individually and collectively, living our values and delivering the best customer
service experience. We believe we carefully select, train and maintain a flexible and diverse workforce of caring,
passionate, fun and friendly people who want to provide our customers with the best experience possible.
Further, our historical experience and numerous surveys indicate that customer satisfaction and the likelihood of
returning customers can be directly linked to experiences with happy and engaged employees.
Our ability to continue hiring, retaining, and developing people who are committed to delivering the JetBlue
Experience to our customers is a key component to maintaining the culture we have built. Our culture is first
introduced to all new employees through a screening process and an extensive orientation program which
emphasizes the importance of customer service, productivity and cost control. We reinforce the importance of
this culture by providing continuous training for our employees, including technical training, a leadership
program, training that is focused on the safety value and front line training for our customer service teams.
We are focused on the efficiency and productivity of our Crewmembers. Flexible and productive work rules,
effective use of part-time employees and increasing use of technology to automate tasks each contribute to
workforce productivity. We are continually looking for ways to make our workforce more efficient through the
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