The Best News From JetBlue Airways Corporation's Earnings Report
On Tuesday morning, JetBlue Airways (NASDAQ: JBLU) reported very strong second-quarter earnings results. Unit revenue returned to growth in a big way, thanks to improving demand and favorable timing of holidays, driving a 12% year-over-year increase in revenue. Meanwhile, earnings per share surged 21% to $0.64, well ahead of the average analyst estimate of $0.57.
However, while these metrics are all impressive, the best piece of news from JetBlue's earnings report related to strong demand for its new Mint premium service routes. This bodes well for 2018 unit revenue at JetBlue, because the carrier is in the midst of rolling out Mint service in many new markets.
JetBlue introduced its Mint premium service three years ago, using a dedicated fleet of Airbus A321s. Coach passengers get perks like larger seatback screens, more channels of free satellite TV, and an unlimited snack bar. But the highlight is a 16-seat premium cabin featuring lie-flat seats, a variety of upscale amenities, and attentive service.
Source: Fool.com