NEW YORK, Dec. 4, 2006 (PRIME NEWSWIRE) -- JetBlue Airways (Nasdaq:JBLU) today announces a revised fleet delivery plan designed to manage capacity growth while retaining maximum flexibility in order to respond to market conditions.
On December 4, 2006, JetBlue entered into Amendment No. 3 to our EMBRAER 190 Purchase Agreement to modify the timing of its EMBRAER 190 aircraft purchases. See chart below for details. JetBlue forecasts a 2007 available seat mile (ASM) capacity growth of 14-17 percent, which assumes additional aircraft sales, leases and/or assignments, a reduction from the 18-20 percent ASM capacity growth JetBlue previously expected.
"JetBlue has grown phenomenally since we first started operating in February 2000," said JetBlue Founder and CEO David Neeleman. "We are now entering a new chapter in the JetBlue story -- still a story of strategic growth, but more a targeted growth that builds on our market dominance on the East Coast, and in particular, our home base of operations at New York's John F. Kennedy International Airport."
JetBlue E190 Aircraft Delivery Schedules
2005-
2006 2007 2008 2009 2010 2011
Firm 26 18 18 18 18 3
Original
Options 0 0 0 0 0 15
-----------------------------------------------------
Net 26 18 18 18 18 18
2012 2013 2014 2015 2016 Total
Firm 0 0 0 0 0 101
Original
Options 18 18 18 18 13 100
-----------------------------------------------------
Net 18 18 18 18 13 201
2005-
2006 2007 2008 2009 2010 2011
Firm 23 10 10 10 10 10
Revised
Options 0 0 5 8 9 11
-----------------------------------------------------
Net 23 10 15 18 19 21
2012 2013 2014 2015 2016 Total
Firm 11 11 6 0 0 101
Revised
Options 12 14 21 20 0 100
-----------------------------------------------------
Net 23 25 27 20 0 201
In the six years since its launch, JetBlue Airways has focused on creating a new airline category -- an airline that offers value, service and style. Based out of New York City, the low-cost carrier currently serves 48 destinations with up to 470 flights daily. Onboard JetBlue, customers enjoy roomy leather seats and 36 channels of free DIRECTV(r) programming (a), the most live TV available on any airline. On flights longer than two hours, a selection of first-run movies and bonus features from FOX InFlight(tm) is also available. JetBlue offers customers generous brand name snacks and beverages, including freshly brewed Dunkin' Donuts(r) coffee, and delicious wines selected by the airline's Low Fare Sommelier, Josh Wesson from Best Cellars(r). On overnight flights from the West, the airline now offers Shut-Eye Service(tm), with a comfort kit designed exclusively for JetBlue by Bliss Spa and other special amenities including a "good morning" hot towel service. With JetBlue, all seats are assigned, all travel is ticketless, all fares are one-way, and an overnight stay is never required. For information or reservations call 1-800-JETBLUE (1-800-538-2583) or visit www.jetblue.com/?source=pr.
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(a) DIRECTV(r) service is not available on flights outside the continental
United States; however, where applicable FOX InFlight(tm) is offered
complimentary on these routes. FOX InFlight(tm) is a trademark of
Twentieth Century Fox Film Corporation. JetBlue's in-flight
entertainment is powered by LiveTV, a wholly owned subsidiary of
JetBlue.
This press release contains statements of a forward-looking nature which represent our management's beliefs and assumptions concerning future events. Forward-looking statements involve risks, uncertainties and assumptions and are based on information currently available to us. Actual results may differ materially from those expressed in the forward-looking statements due to many factors, including without limitation, our extremely competitive industry; increases in fuel prices, maintenance costs and interest rates; our ability to implement our growth strategy including the integration of the EMBRAER 190 aircraft into our operations; our significant fixed obligations; our ability to attract and retain qualified personnel and maintain our culture as we grow; our reliance on high daily aircraft utilization; our dependence on the New York metropolitan market; increases in maintenance costs, fuel prices, insurance costs and interest rates, our dependence on the New York market; our reliance on automated systems and technology; our being subject to potential unionization; our reliance on a limited number of suppliers; changes in or additional government regulation; changes in our industry due to other airlines' financial condition; and external geopolitical events and conditions. Further information concerning these and other factors is contained in the Company's Securities and Exchange Commission filings, including but not limited to, the Company's 2005 Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. We undertake no obligation to update any forward-looking statements to reflect events or circumstances that may arise after the date of this release.