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JetBlue Loss Widens on Higher Fuel Costs

Wall Street Journal US Business •
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JetBlue Airways recorded a bigger loss in the second quarter stemming from higher jet fuel prices, though it blunted about half of that damage with higher fares and strong customer demand. The carrier posted a loss of $247 million, or 66 cents a share, compared with a loss of $74 million, or 21 cents a share, in the same quarter a year earlier.

Analysts polled by FactSet had been expecting a slightly bigger loss of 69 cents a share. Operating revenue rose 14.5% from a year earlier to $2.7 billion, clearing analyst estimates for $2.69 billion.

Demand strengthened across nearly all of the company's different seat tiers and geographies, JetBlue said. The top-line gains, driven by higher prices and a 3.2% increase in capacity, allowed the company to recapture nearly 50% of the increase in fuel costs during the quarter.