JetBlue Airlines 2011 Annual Report Download - page 40

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(5) Earnings were inadequate to cover fixed charges by $135 million and $11 million for the years ended
December 31, 2008 and 2007, respectively.
As of December 31,
2011 2010 2009 2008 2007
(in millions)
Balance Sheet Data:
Cash and cash equivalents ...................... $ 673 $ 465 $ 896 $ 561 $ 190
Investment securities .......................... 591 628 246 244 611
Total assets .................................. 7,071 6,593 6,549 6,018 5,592
Total debt ................................... 3,136 3,033 3,304 3,144 3,022
Common stockholders’ equity ................... 1,757 1,654 1,546 1,270 1,050
Year Ended December 31,
2011 2010 2009 2008 2007
Operating Statistics (unaudited):
Revenue passengers (thousands) ................. 26,370 24,254 22,450 21,920 21,387
Revenue passenger miles (millions) ............... 30,698 28,279 25,955 26,071 25,737
Available seat miles (ASMs)(millions) ............ 37,232 34,744 32,558 32,442 31,904
Load factor .................................. 82.4% 81.4% 79.7% 80.4% 80.7%
Aircraft utilization (hours per day) ............... 11.7 11.6 11.5 12.1 12.8
Average fare ................................. $ 154.74 $ 140.69 $ 130.67 $ 139.56 $ 123.28
Yield per passenger mile (cents) ................. 13.29 12.07 11.30 11.73 10.24
Passenger revenue per ASM (cents) ............... 10.96 9.82 9.01 9.43 8.26
Operating revenue per ASM (cents) ............... 12.10 10.88 10.11 10.45 8.91
Operating expense per ASM (cents) .............. 11.23 9.92 9.24 10.11 8.38
Operating expense per ASM, excluding fuel
(cents) .................................... 6.76 6.71 6.33 5.80 5.34
Airline operating expense per ASM (cents) (6) ...... 11.06 9.71 8.99 9.87 8.27
Departures .................................. 243,446 225,501 215,526 205,389 196,594
Average stage length (miles) .................... 1,091 1,100 1,076 1,120 1,129
Average number of operating aircraft during
period .................................... 164.9 153.5 148.0 139.5 127.8
Average fuel cost per gallon, including fuel taxes .... $ 3.17 $ 2.29 $ 2.08 $ 3.08 $ 2.18
Fuel gallons consumed (millions) ................ 525 486 455 453 444
Full-time equivalent employees at period end (6) .... 11,733 11,121 10,704 9,895 9,909
(6) Excludes results of operations and employees of LiveTV, LLC, which are unrelated to our airline operations
and are immaterial to our consolidated operating results.
The following terms used in this section and elsewhere in this report have the meanings indicated below:
“Revenue passengers” represents the total number of paying passengers flown on all flight segments.
“Revenue passenger miles” represents the number of miles flown by revenue passengers.
“Available seat miles” represents the number of seats available for passengers multiplied by the number of miles
the seats are flown.
“Load factor” represents the percentage of aircraft seating capacity that is actually utilized (revenue passenger
miles divided by available seat miles).
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