JetBlue Airways reported that its first-quarter net income soared on improving revenue from higher fares and increased passenger traffic that offset rapidly rising fuel costs.
New York based JetBlue earned $30 million compared with net income of $3 million in the first quarter of 2011. JetBlue’s revenue rose 19 percent to $1.2 billion.
Passenger traffic increased by 14 percent, mostly because JetBlue is expanding its operations and offering new flights. JetBlue also reported that its flights were fuller, which shows that the demand for flights from passengers is still increasing.
JetBlue is expected to be among many Major Airlines who have announced intentions to hire pilots in 2012 both to replace pilots who will be forced to retire due to reaching the mandatory retirement age of 65 and to cover the growth of their airline operations.
Every single airline in the United States will be competing for new pilots for the same reason as approximately 2200 pilots will be forced to retire in 2013 alone. Airlines which have already begun hiring pilots this year have all faced a shortage of new commercial pilots, and the situation can only get worse as we move further into 2012.