JetBlue Airways Corporation Reports Unaudited Consolidated Earnings and Operating Results for the Fourth Quarter and Full Year Ended December 31, 2017; Provides Operating Guidance for the First Quarter of 2018 and Full Year 2018
For the year, the company reported total operating revenues of $7,015 million compared to $6,632 million a year ago. Operating income was $1,000 million compared to $1,312 million a year ago. Income before income taxes was $921 million compared to $1,216 million a year ago. Net income was $1,147 million or $3.47 per diluted share compared to $759 million or $2.22 per diluted share a year ago.
For the quarter, the company reported revenue passengers of 9,787,000 compared to 9,532,000 a year ago. Revenue passenger miles were 11,527 million compared to 11,185 million a year ago. Available seat miles were 13,876 million compared to 13,198 million a year ago. Load factor was 83.1% compared to 84.7% a year ago.
For the year, the company reported revenue passengers of 40,038,000 compared to 38,263,000 a year ago. Revenue passenger miles were 47,240 million compared to 45,619 million a year ago. Available seat miles were 56,007 million compared to 53,620 million a year ago. Load factor was 84.3% compared to 85.1% a year ago.
First quarter 2018 available seat miles (ASMs) are estimated to increase 3.5% to 5.5% year-over-year. RASM growth is expected to range between 2.5% and 5.5% for the first quarter 2018 compared to the same period in 2017.
Full year 2018 ASMs are estimated to increase 6.5% to 8.5% year-over-year. The company expects an effective annual tax rate between 24% and 26%. The company's CapEx guidance for 2018 is between $900 million and $1.1 billion composed of up to $900 million in aircraft and the remainder in nonaircraft spend.