JetBlue became only the third US Major (and the third low-cost airline) to report a profit for the first quarter as it posted earnings of $7 million, slightly ahead of Wall Street expectations but a 54.1% decline compared to earnings of $15.2 million last year. Operating revenues jumped 29.5% to $374.2 million while expenses surged 36% to $348.6 million, propelled by a 75.9% rise in fuel expense to $86.6 million and a 49.1% hike in depreciation and amortization. The result was an operating ...

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