JetBlue Airways Corporation (NASDAQ: JBLU) is an American low-cost airline. The company is headquartered in the Forest Hills neighborhood of the New York City borough of Queens. Its main base is John F. Kennedy International Airport, also in Queens.
In 2001, JetBlue began a focus city operation at Long Beach Airport in Long Beach, California, and another at Boston's Logan International Airport, in 2004. It also has focus city operations at Fort Lauderdale – Hollywood International Airport, Orlando International Airport and at Luis Muñoz Marín International Airport in San Juan. The airline mainly serves destinations in the United States, along with flights to the Caribbean, The Bahamas, Bermuda, Colombia, Costa Rica, Dominican Republic, Jamaica, and Mexico. As of February 17, 2011 JetBlue serves 63 destinations in 21 states (including Puerto Rico), and eleven countries in the Caribbean and Latin America.
JetBlue maintains a corporate office in Cottonwood Heights, Utah, a satellite office in Darien, Connecticut, and its Information Technology center in Garden City, New York. JetBlue is a non-union airline.
JetBlue Airways Corporation (JetBlue), incorporated in August 1998, is a passenger airline that operates primarily on point-to-point routes with its fleet of 115 Airbus A320 aircraft and 45 EMBRAER 190 aircraft, such as the youngest and most fuel-efficient fleet of any major United States airline. As of December 31, 2010, it served 63 destinations in 21 states, Puerto Rico, and 11 countries in the Caribbean and Latin America. Most of its flights have as an origin or destination one of its focus cities: Boston, Fort Lauderdale, Los Angeles/Long Beach, New York/JFK, or Orlando. During the year ended December 31, 2010, JetBlue operated an average of 650 daily flights.
JetBlue’s operations primarily consist of transporting passengers on its aircraft with domestic United States operations, including Puerto Rico, accounting for 85% of its capacity during 2010. In February 2011, the Company began service to Providenciales, Turks & Caicos Islands. As of December 31, 2010, it also offers service to the non-stop destinations of any carrier out of Boston. Onboard JetBlue facilities include new aircraft, roomy leather seats with the most legroom in coach, 36 channels of free DirecTV, 100 channels of free XM satellite radio and premium movie channel offerings from JetBlue features, its source of first run films from multiple movie studios, and other entertainment features available for purchase. Its onboard offerings include free and unlimited brand name snacks and beverages, premium beverages and specially designed products for its overnight flights.
All of JetBlue’s aircraft are equipped with leather seats in a single class layout. The Company’s Airbus A320 aircraft has 150 seats. Its Airbus A320 cabin has at least 34 inches of seat pitch at every seat and as much as 38 inches of seat pitch in its Even More Legroom rows. Its EMBRAER 190 aircraft each have 100 seats that are arranged in a two-by-two seating configuration with either 32 or 33 inches between rows of seats. The Company has an airline at New York’s John F. Kennedy International Airport (JFK). During 2010, its domestic operations at JFK accounted for more than 40% of all domestic passengers at that airport. In addition to JFK, the Company serves Newark’s Liberty International Airport, New York’s LaGuardia Airport, Newburgh, New York’s Stewart International Airport and White Plains, New York’s Westchester County Airport. During 2010, its domestic operations at Boston accounted for more than 19% of all domestic flights at that airport. The Company sells vacation packages through JetBlue Getaways, a one-stop, value-priced vacation Website designed to meet customers’ demand for self-directed packaged travel planning. Getaways packages offers air travel on JetBlue and a selection of JetBlue-recommended hotels and resorts, car rentals and attractions. It also offers a la carte hotel and car rental reservations through its Website.
LiveTV, LLC (LiveTV), a wholly owned subsidiary of JetBlue, provides in-flight entertainment, voice communication and data connectivity services for commercial and general aviation aircraft, including live in-seat satellite television, digital satellite radio, wireless aircraft data link service and cabin surveillance systems. LiveTV has agreements with seven other domestic and international commercial airlines for the sale and installation of certain hardware, programming and maintenance of its live in-seat satellite television, as well as XM Satellite Radio service and certain other products and services. LiveTV also has general aviation customers to which it supplies voice and data communication services.
etBlue was incorporated in Delaware in August 1998. David Neeleman founded the company in February 1999, under the name "NewAir." Several of JetBlue's executives, including Neeleman, are former Southwest Airlines employees.[citation needed] JetBlue started by following Southwest's approach of offering low-cost travel, but sought to distinguish itself by its amenities, such as in-flight entertainment, TV on every seat and Satellite radio. In Neeleman's words, JetBlue looks "to bring humanity back to air travel."
In September 1999 the airline was awarded 75 initial take off/landing slots at John F. Kennedy International Airport, and received formal U.S. authorization in February 2000. It started operations on February 11, 2000, with service to Buffalo and Ft. Lauderdale.
JetBlue's founders had set out to call the airline "Taxi" and therefore have a yellow livery to associate the airline with New York. The idea was dropped, however, for several reasons: the negative connotation behind New York City taxis; the ambiguity of the word taxi with regard to air traffic control; and threats from investor JP Morgan to pull its share ($20 million of the total $128 million) of the airline's initial funding unless the name was changed.
JetBlue was one of only a few U.S. airlines that made a profit during the sharp downturn in airline travel following the September 11, 2001 attacks. Since its IPO on the NASDAQ stock exchange in 2002, JetBlue has become one of the most popular airline stocks in history and currently has about two billion dollars in market capitalization. Financial results were strong for the airline throughout the 2002–2004 years, and many analysts and journalists lauded the airline for its success.
The airline sector responded to JetBlue's market presence by starting mini-rival carriers: Delta Air Lines started Song, and United Airlines launched another rival called Ted. Song has since been disbanded and was reabsorbed by Delta Air Lines, and United has discontinued Ted as a separate brand.
In 2002, JetBlue acquired LiveTV for $41 million in cash and the retirement of $39 million of LiveTV debt. LiveTV equips JetBlue with 36 channels of live DirecTV satellite TV programming at each seat. Two years later, JetBlue announced it would add 100 channels of XM Satellite Radio, Fox TV programs and 20th Century Fox movies to its in-flight entertainment.
JetBlue has not yet attempted to raise money by selling snacks during flights, a move that many larger airlines have made on domestic flights and some international flights. JetBlue has also told customers in commercials and print ads that they "encourage you to use the call button", advertising their devotion to customer service. JetBlue is also known for its "letter ads", for example: "Dear New York", and ending with, "Sincerely, JetBlue".
As the airline continued to make record profits, new planes allowed for additional route opportunities. These included JetBlue's first international service, New York City to the Dominican Republic, on June 10, 2004. Additional service to The Bahamas began on November 1, 2004, and service to Bermuda began May 4, 2006. Service to Aruba began September 15, 2006.
In 2004, JetBlue began flights from New York City's LaGuardia Airport and added service in 2005 to Newark Liberty International Airport in Newark, New Jersey, thereby serving all three major New York City area airports. Also in 2005, the company added service between JFK and Boston's Logan Airport with ten daily flights using its new 100-seat Embraer 190 fixed-wing aircraft. In October 2006 JetBlue announced they would begin service from Stewart International Airport, in Newburgh, New York. Later, the airline announced new service to Westchester County Airport, also known as White Plains, allowing JetBlue access to five of the six New York City area airports.
OVERALL
Beta: 0.98
Market Cap (Mil.): $1,733.56
Shares Outstanding (Mil.): 295.83
Annual Dividend: --
Yield (%): --
FINANCIALS
JBLU.O Industry Sector
P/E (TTM): 17.56 20.10 16.98
EPS (TTM): 129.73 -- --
ROI: -- 2.38 3.28
ROE: -- 7.14 5.91
Name Age Since Current Position
Peterson, Joel 63 2008 Chairman of the Board
Barger, David 53 2009 President, Chief Executive Officer, Director
Sica, Frank 60 2008 Independent Vice Chairman of the Board
Barnes, Edward 46 2007 Chief Financial Officer, Executive Vice President
Maruster, Robert 39 2009 Chief Operating Officer, Executive Vice President
Hayes, Robin 44 2008 Chief Compliance Officer, Executive Vice President
Hnat, James 40 2007 Executive Vice President - Corporate Affairs, General Counsel, Secretary
Geraghty, Joanna 2010 Executive Vice President, Chief People Officer
Daniels, Donald 43 2009 Chief Accounting Officer, Vice President
Dervin, Jenny 2011 Vice President - Corporate Communications
Spencer, Harry 2011 Vice President - Compensation and Benefits
Clanin, Robert 66 2007 Director
Franz, Christoph 50 2008 Director
Gemkow, Stephan 51 2008 Director
Rhoades, Ann 66 2002 Independent Director
Checketts, David 55 2000 Independent Director
Gambale, Virginia 51 2006 Independent Director
Boneparth, Peter 51 2008 Independent Director
McChrystal, Stanley 56 2010 Independent Director
COMPANY ADDRESS
Jetblue Airways Corp
118-29 Queens Blvd.
Forest Hills NY 11375
In 2001, JetBlue began a focus city operation at Long Beach Airport in Long Beach, California, and another at Boston's Logan International Airport, in 2004. It also has focus city operations at Fort Lauderdale – Hollywood International Airport, Orlando International Airport and at Luis Muñoz Marín International Airport in San Juan. The airline mainly serves destinations in the United States, along with flights to the Caribbean, The Bahamas, Bermuda, Colombia, Costa Rica, Dominican Republic, Jamaica, and Mexico. As of February 17, 2011 JetBlue serves 63 destinations in 21 states (including Puerto Rico), and eleven countries in the Caribbean and Latin America.
JetBlue maintains a corporate office in Cottonwood Heights, Utah, a satellite office in Darien, Connecticut, and its Information Technology center in Garden City, New York. JetBlue is a non-union airline.
JetBlue Airways Corporation (JetBlue), incorporated in August 1998, is a passenger airline that operates primarily on point-to-point routes with its fleet of 115 Airbus A320 aircraft and 45 EMBRAER 190 aircraft, such as the youngest and most fuel-efficient fleet of any major United States airline. As of December 31, 2010, it served 63 destinations in 21 states, Puerto Rico, and 11 countries in the Caribbean and Latin America. Most of its flights have as an origin or destination one of its focus cities: Boston, Fort Lauderdale, Los Angeles/Long Beach, New York/JFK, or Orlando. During the year ended December 31, 2010, JetBlue operated an average of 650 daily flights.
JetBlue’s operations primarily consist of transporting passengers on its aircraft with domestic United States operations, including Puerto Rico, accounting for 85% of its capacity during 2010. In February 2011, the Company began service to Providenciales, Turks & Caicos Islands. As of December 31, 2010, it also offers service to the non-stop destinations of any carrier out of Boston. Onboard JetBlue facilities include new aircraft, roomy leather seats with the most legroom in coach, 36 channels of free DirecTV, 100 channels of free XM satellite radio and premium movie channel offerings from JetBlue features, its source of first run films from multiple movie studios, and other entertainment features available for purchase. Its onboard offerings include free and unlimited brand name snacks and beverages, premium beverages and specially designed products for its overnight flights.
All of JetBlue’s aircraft are equipped with leather seats in a single class layout. The Company’s Airbus A320 aircraft has 150 seats. Its Airbus A320 cabin has at least 34 inches of seat pitch at every seat and as much as 38 inches of seat pitch in its Even More Legroom rows. Its EMBRAER 190 aircraft each have 100 seats that are arranged in a two-by-two seating configuration with either 32 or 33 inches between rows of seats. The Company has an airline at New York’s John F. Kennedy International Airport (JFK). During 2010, its domestic operations at JFK accounted for more than 40% of all domestic passengers at that airport. In addition to JFK, the Company serves Newark’s Liberty International Airport, New York’s LaGuardia Airport, Newburgh, New York’s Stewart International Airport and White Plains, New York’s Westchester County Airport. During 2010, its domestic operations at Boston accounted for more than 19% of all domestic flights at that airport. The Company sells vacation packages through JetBlue Getaways, a one-stop, value-priced vacation Website designed to meet customers’ demand for self-directed packaged travel planning. Getaways packages offers air travel on JetBlue and a selection of JetBlue-recommended hotels and resorts, car rentals and attractions. It also offers a la carte hotel and car rental reservations through its Website.
LiveTV, LLC (LiveTV), a wholly owned subsidiary of JetBlue, provides in-flight entertainment, voice communication and data connectivity services for commercial and general aviation aircraft, including live in-seat satellite television, digital satellite radio, wireless aircraft data link service and cabin surveillance systems. LiveTV has agreements with seven other domestic and international commercial airlines for the sale and installation of certain hardware, programming and maintenance of its live in-seat satellite television, as well as XM Satellite Radio service and certain other products and services. LiveTV also has general aviation customers to which it supplies voice and data communication services.
etBlue was incorporated in Delaware in August 1998. David Neeleman founded the company in February 1999, under the name "NewAir." Several of JetBlue's executives, including Neeleman, are former Southwest Airlines employees.[citation needed] JetBlue started by following Southwest's approach of offering low-cost travel, but sought to distinguish itself by its amenities, such as in-flight entertainment, TV on every seat and Satellite radio. In Neeleman's words, JetBlue looks "to bring humanity back to air travel."
In September 1999 the airline was awarded 75 initial take off/landing slots at John F. Kennedy International Airport, and received formal U.S. authorization in February 2000. It started operations on February 11, 2000, with service to Buffalo and Ft. Lauderdale.
JetBlue's founders had set out to call the airline "Taxi" and therefore have a yellow livery to associate the airline with New York. The idea was dropped, however, for several reasons: the negative connotation behind New York City taxis; the ambiguity of the word taxi with regard to air traffic control; and threats from investor JP Morgan to pull its share ($20 million of the total $128 million) of the airline's initial funding unless the name was changed.
JetBlue was one of only a few U.S. airlines that made a profit during the sharp downturn in airline travel following the September 11, 2001 attacks. Since its IPO on the NASDAQ stock exchange in 2002, JetBlue has become one of the most popular airline stocks in history and currently has about two billion dollars in market capitalization. Financial results were strong for the airline throughout the 2002–2004 years, and many analysts and journalists lauded the airline for its success.
The airline sector responded to JetBlue's market presence by starting mini-rival carriers: Delta Air Lines started Song, and United Airlines launched another rival called Ted. Song has since been disbanded and was reabsorbed by Delta Air Lines, and United has discontinued Ted as a separate brand.
In 2002, JetBlue acquired LiveTV for $41 million in cash and the retirement of $39 million of LiveTV debt. LiveTV equips JetBlue with 36 channels of live DirecTV satellite TV programming at each seat. Two years later, JetBlue announced it would add 100 channels of XM Satellite Radio, Fox TV programs and 20th Century Fox movies to its in-flight entertainment.
JetBlue has not yet attempted to raise money by selling snacks during flights, a move that many larger airlines have made on domestic flights and some international flights. JetBlue has also told customers in commercials and print ads that they "encourage you to use the call button", advertising their devotion to customer service. JetBlue is also known for its "letter ads", for example: "Dear New York", and ending with, "Sincerely, JetBlue".
As the airline continued to make record profits, new planes allowed for additional route opportunities. These included JetBlue's first international service, New York City to the Dominican Republic, on June 10, 2004. Additional service to The Bahamas began on November 1, 2004, and service to Bermuda began May 4, 2006. Service to Aruba began September 15, 2006.
In 2004, JetBlue began flights from New York City's LaGuardia Airport and added service in 2005 to Newark Liberty International Airport in Newark, New Jersey, thereby serving all three major New York City area airports. Also in 2005, the company added service between JFK and Boston's Logan Airport with ten daily flights using its new 100-seat Embraer 190 fixed-wing aircraft. In October 2006 JetBlue announced they would begin service from Stewart International Airport, in Newburgh, New York. Later, the airline announced new service to Westchester County Airport, also known as White Plains, allowing JetBlue access to five of the six New York City area airports.
OVERALL
Beta: 0.98
Market Cap (Mil.): $1,733.56
Shares Outstanding (Mil.): 295.83
Annual Dividend: --
Yield (%): --
FINANCIALS
JBLU.O Industry Sector
P/E (TTM): 17.56 20.10 16.98
EPS (TTM): 129.73 -- --
ROI: -- 2.38 3.28
ROE: -- 7.14 5.91
Name Age Since Current Position
Peterson, Joel 63 2008 Chairman of the Board
Barger, David 53 2009 President, Chief Executive Officer, Director
Sica, Frank 60 2008 Independent Vice Chairman of the Board
Barnes, Edward 46 2007 Chief Financial Officer, Executive Vice President
Maruster, Robert 39 2009 Chief Operating Officer, Executive Vice President
Hayes, Robin 44 2008 Chief Compliance Officer, Executive Vice President
Hnat, James 40 2007 Executive Vice President - Corporate Affairs, General Counsel, Secretary
Geraghty, Joanna 2010 Executive Vice President, Chief People Officer
Daniels, Donald 43 2009 Chief Accounting Officer, Vice President
Dervin, Jenny 2011 Vice President - Corporate Communications
Spencer, Harry 2011 Vice President - Compensation and Benefits
Clanin, Robert 66 2007 Director
Franz, Christoph 50 2008 Director
Gemkow, Stephan 51 2008 Director
Rhoades, Ann 66 2002 Independent Director
Checketts, David 55 2000 Independent Director
Gambale, Virginia 51 2006 Independent Director
Boneparth, Peter 51 2008 Independent Director
McChrystal, Stanley 56 2010 Independent Director
COMPANY ADDRESS
Jetblue Airways Corp
118-29 Queens Blvd.
Forest Hills NY 11375