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JetBlue And Boeing Announce Quarterly Earnings

By Kendra Ablaza, Staff Writer

January 30, 2013 - JetBlue Airways and The Boeing Company announced their quarterly earnings this week, reporting growth and steadfast operation.

JetBlue, whose western hub is located in Long Beach, reported a fourth quarter operating income of $44 million and operating revenues of $1.2 billion. Operating expenses for the quarter also increased 8.3 percent, or $87 million, compared to fourth quarter 2011.

The company also announced a fourth quarter load factor of 81.9 percent, a decrease of 0.3 points year over year. Yield per passenger mile in the fourth quarter was 13.47 cents, up 0.2 percent compared to 2011’s fourth quarter.

“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 period,” Robin Hayes, JetBlue’s chief financial officer, said in a statement.

The Boeing Company reported in a press release a fourth quarter revenue of $22.3 billion and core operating earnings of $1.8 billion, which increased by 9 percent due to strong performance by the company’s businesses and more commercial airplanes deliveries.

Fourth quarter 2012 core earnings per share of $1.46 increased 4 percent compared to the same quarter last year excluding the $0.52 per share related to the 2011 favorable tax settlement. The company reported fourth-quarter earnings from operations of $1.6 billion and earnings per share of $1.28

Boeing Chairman, President and Chief Executive Officer Jim McNerney said in a statement that the company’s first priority of 2013 is to resolve the battery issue on the 787 and return planes to servicing customers.

“At the same time, we remain focused on our ongoing priorities of profitable ramp up in commercial airplane production, successful execution of our development programs, and continued growth in core, adjacent and international defense and space markets,” McNerney said.