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JetBlue profit lower=20
=09
=09
Reuters <http://money.excite.com/img/logo_reuters.gif> =09
Thursday April 22, 8:09 AM EDT=20
(Recasts, adds details)
NEW YORK, April 22 (Reuters) - Low-cost airline JetBlue Airways Corp.
(JBLU
<http://money.excite.com/jsp/qt/full.jsp?time=3D0&symbol_search_text=3DJB=
LU>
) on Thursday reported its first decline in quarterly earnings since it
went public, as competition increased and seasonal sluggishness affected
some of its routes.
JetBlue, which has reported a profit each quarter since its initial
public offering in April 2002, said net income fell to $15.2 million, or
14 cents a share, in the first quarter, down from $17.4 million, or 17
cents a share, a year earlier.
Wall Street analysts, on average, expected 12 cents a share, according
to Reuters Research, a unit of Reuters Group, Plc.
Earlier this year, the New York-based airline said 2004 would be a
challenging year as it faces higher maintenance and fuel costs. JetBlue
also faces competition from larger carriers determined to punch back at
an upstart that cut deep into some of their busiest markets.
Operating revenue grew more than 33 percent to $289 million as the
carrier expanded rapidly to increase passenger count by adding planes
and routes.=20
=A92004 Reuters Limited.=20
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