JetBlue posts profit for first quarter

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Friday, April 25, 2003 | 9:52 a.m.

SUN STAFF AND WIRE REPORTS

NEW YORK -- While major U.S. airlines suffer, discount carrier JetBlue Airways Corp. posted a profitable first quarter Thursday and talked about plans to add flights and capacity throughout the year.

The New York-based carrier defied a weak domestic fare environment, high fuel prices, bad weather and the Iraq war in the first quarter to post earnings that beat Wall Street expectations.

JetBlue reported net income of $17.35 million, or 25 cents a share, on revenue of $217.1 million. That compares with net income of $13 million, or 23 cents per diluted share, on revenue of $133.4 million in the prior first quarter.

JetBlue has three flights per day between Las Vegas and Long Beach, Calif., and four flights daily between Las Vegas and New York's John F. Kennedy Airport.

CEO David Neeleman said the carrier will continue to add flight frequencies in its current markets.