Top > Business > 2005 > October > 2005-10-23

JetBlue Reports Profit Loss

JetBlue Airways says its third-quarter profit fell by more than half as the airline industry continues facing economic pressure from high fuel costs. Quarterly income dropped to $2.7 million, or 2 cents per share, from $8.1 million, or 7 cents per share, the year before.

Analysts, however, were expecting JetBlue to post a loss of 1 cent per share, according to a Thomson Financial survey. Operating revenue totaled $453 million, a 40 percent increase from $323 million and slightly ahead of analysts` consensus target of $451.6 million.During the past year, price per share has ranged from $17.06 to $26.32.

JetBlue is regarded as a fabulous low-cost airline, though recent headlines for the company have been less than friendly, with a recent emergency landing covered live on TV. Still, the airline is one of the fastest growing and should fuel costs taper off profits could, pun intended, soar.