JetBlue Rakes In Record Revenues As Premium-Class Mint Offering Thrives

JetBlue Airways’ first-quarter operating revenues increased 13 percent year over year to $1.5 billion, a record-high first-quarter figure for the carrier, as its executives reported “healthy demand” across the carrier’s network.

JetBlue reported net income of $137 million during the first quarter, compared with $4 million in the first quarter of 2014. The carrier increased its average fare by 3.7 percent year over year to $173.96, and yield rose 3.1 percent. Traffic increased 11.1 percent year over year and capacity 9.6 percent. As such, load factor increased 1.2 percentage points to 84.3 percent.

Mint, the premium-class product JetBlue launched last summer, factored into the carrier’s performance, as revenue per available seat mile on Mint routes rose 20 percent compared with the first quarter of 2014, JetBlue president and CEO Robin Hayes said Tuesday during an earnings call. Noting Mint’s strength among business travelers—it often sells out several days in advance of flights—Hayes reiterated JetBlue’s intention to expand the offering, though it still is “evaluating additional markets.”

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