JetBlue summer losses deepen amid higher fuel costs

JetBlue said rising fuel costs drove a sharp deterioration in summer results, with net loss nearly doubling to $257 million for the three months to September 30, from $143 million a year earlier. The airline reported jet fuel costs up 61% year-on-year to $868 million, and an average fuel price 57% higher at $3.91 per gallon in the third quarter. Operating revenues rose 21% to $2.8 billion, helped by a 2.2% increase in passenger numbers to 10.6 million and a 2.3% capacity lift. However, operating expense per available seat mile (CASM) increased 19.4%, largely due to higher fuel. JetBlue’s BlueFirst upgraded service begins in phases from December 8 on Boston-Fort Lauderdale.