JetBlue Airlines 2011 Annual Report Download - page 5

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At the end of 2011, JetBlue operated a total of 169 aircraft, including 120 Airbus A320 aircraft and 49
EMBRAER 190 aircraft. In June 2011, we announced several significant changes to our fleet plan, which we
believe will better position JetBlue to compete successfully over the long term. These changes include the
deferral of eight Airbus A320 aircraft, the conversion of 30 Airbus A320 delivery positions to Airbus A321s and
plans to reduce the future size of our EMBRAER 190 fleet by up to 25 aircraft. In addition, all of our Airbus
A320 and A321 deliveries beginning in 2013 will have “sharklets,” which we expect to improve our fuel
efficiency by roughly three percent. We anticipate that the improved fuel efficiency of these new aircraft will
provide significant savings against our largest and most unpredictable cost. Finally, we announced plans to
purchase 40 Airbus A320 new engine option aircraft – a significant investment in potentially game changing
technology. The aircraft – which we expect to begin taking delivery of in 2018 – should significantly reduce our
fuel consumption and provide JetBlue with improved operating and performance economics.
A Look Ahead
Despite a high fuel cost environment and challenging economic conditions in 2011, we generated record
revenues and reported four consecutive quarters of profitability, all while continuing to maintain our unique
culture and brand. We are optimistic that the momentum generated in 2011 positions us well for a successful
2012.
We are committed to growing profitably on a sustainable basis and remain focused on improving margins and
generating appropriate returns for our owners. Our goal is to improve our return on invested capital (ROIC) by
one percentage point per year on average for the foreseeable future. We believe our unique culture, offerings and
strong financial foundation will position us for continued success.
On behalf of our 14,000 dedicated crewmembers, we thank you for your continued support.
Most Sincerely,
Dave Barger
President & Chief Executive Officer