JetBlue Airlines 2015 Annual Report Download - page 4

Download and view the complete annual report

Please find page 4 of the 2015 JetBlue Airlines annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 87

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87

•
Capital Deployment: We continue to prioritize our cash use to strengthen our balance sheet. In 2015,
we reduced our overall debt balance while growing our fleet, improved our Net Debt / EBITDAR ratio, and
unencumbered additional aircraft.
Looking ahead, we intend to pay for 2016 aircraft deliveries with cash on hand rather than with debt financing
and will look to opportunistically pre-pay other debt. Given debt maturities scheduled for the fall 2016, we will
assess capital allocation thereafter and expect to provide more color on our plans toward the end of the year.
•
Targeted Growth: JetBlue remains a growth company focused on margin and return accretive expansion.
Over the last few years our business model has driven strong results on a high single digit capacity growth
rate. We will continue to make responsible capacity decisions to maximize profits thoughtfully based on the
demand environment and projected price of fuel. Should there be significant change in the macro-environment
we have a raft of options to timely adjust our capacity plans.
2015 was an incredible year for JetBlue with industry leading margin expansion and solid execution of our
plan by the best crewmembers in the business. Looking ahead, we will continue to enhance the customer
experience while working aggressively on our ROIC accretive initiatives, including structural programs such as
our Cabin Restyling.
On behalf of our 18,000 engaged crewmembers, thank you for your continued support.
Most sincerely,
Robin Hayes
President and Chief Executive Officer