JetBlue Airways reported net income of $128 million for 2012, up 48.8% over a net profit of $86 million in 2012.
The New York-based low-cost carrier (LCC), which lost an estimated $45 million in fourth quarter revenue owing to Hurricane Sandy, saw net income for the period fall to $1 million from a net profit of $23 million in the 2011 December quarter.
But full-year revenue increased 10.6% year-over-year to $4.98 billion, the company’s highest-ever annual revenue. The revenue performance enabled it to overcome a 10.1% rise in expenses to $4.61 billion to post a 2012 operating profit of $376 million, up 16.6%.
“While we saw a significant decline in demand for air travel following Hurricane Sandy, we are encouraged by more robust demand trends during the December holiday travel period,” chief commercial officer Robin Hayes said in a statement.
JetBlue’s full-year traffic rose 9.3% year-over-year to 33.56 billion RPMs on a 7.6% increase in capacity to 40.08 billion ASMs, producing a load factor of 83.8%, up 1.4 points. Yield per passenger mile was up 2% to 13.55 cents.
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