jetBlue experienced its first-ever quarterly loss during the fourth quarter of 2005 when the airline lost $42.4 million, enough to make them unprofitable for the entire year of 2005. The loss was the airline's first since going public in 2002. JetBlue also reported a loss in the first quarter of 2006. In addition to that, jetBlue forecasted a loss for 2006, citing high fuel prices, operating inefficiency, and fleet costs. During the first quarter report, CEO David Neeleman, President Dave Barger, and then-CFO John Owen released JetBlue's "Return to Profitability" ("RTP") plan, stating in detail how they would curtail costs and improve revenue to regain profitability. The plan called for $50 million in annual cost cuts and a push to boost revenue by $30 million. jetBlue Airways moved out of the red during the second quarter of 2006, beating Wall Street expectations by announcing a net profit of $14 million. That result was flat when compared to jetBlue's results from the same quarter a year before ($13 million), but it was double Wall Street forecasts of a $7 million profit, Reuters reports. The carrier said cost-cutting and stronger revenue helped it offset higher jet fuel costs. In October 2006, jetBlue announced a net loss of $500,000 for Quarter 3, and a plan to regain that loss by deferring some of their E190 deliveries and by selling 5 of their A320s.
jetBlue expanded service to the Caribbean, including to St. Maarten and Puerto Plata commencing January 10, 2008. With these additional destinations, jetBlue serves a total of twelve Caribbean/Atlantic destinations including Aruba; Barbados; Bermuda; Cancún; Nassau; Aguadilla; Ponce; San Juan, Puerto Rico; Santiago; and Santo Domingo, Dominican Republic.
A century ago, Shanghai was China’s star city, a cosmopolitan center of art, technology, and finance. Today, it’s reclaiming that mantle, parlaying the economic boom that began in the 1990s into a world-class array of cultural and culinary attractions. On the West Bund riverfront, Tank Shanghai will transform disused oil tanks into a sprawling arts complex with a gallery, an education center, and parks when it’s completed later this year. Farther north, the Norman Foster and Thomas Heatherwick–designed Fosun Foundation, with its façade of shifting bronze cylinders, began hosting performances and art shows last fall. The North Bund is being redeveloped with a park linking it to a new lifestyle development that’s anchored by the city’s first W Hotel. In the residential Minhang district, Cordis debuted in May, and Amanyangyun will open nearby after relocating Ming and Qing dynasty buildings, as well as 10,000 ancient camphor trees, from Jiangxi province. More luxury stays are still to come in 2018, including the Middle House, the Bulgari, and the Edition. —Samantha Culp
On July 24, 2007, jetBlue reported that its second-quarter revenue increased to $730 million, compared to $612 in 2006. Second quarter net income grew to $21 million for the quarter, from $14 million the previous year. CEO David Barger said the airline will take delivery of three fewer planes this year and will sell three planes from their current fleet, "slowing capacity growth ... to strengthen our balance sheet and facilitate earnings growth", but will continue to add two to four new destinations each year.
Though decades of civil war made parts of the island unsafe, tourism is on the rise in Sri Lanka, where international visitors exceeded 2 million for the first time in 2016. The momentum is particularly strong along the south coast, which has the highest concentration of hotels and resorts after Colombo. The 172-room Amari resort recently opened on the beachfront in Galle (known for its UNESCO-protected Dutch fortress) with ocean views from every balcony. Water also plays a central role at Alila Koggala, a new luxury eco-resort with 36 suites and private villas, opening 20 minutes outside of Galle in June. The property sits on the serene shores of Lake Koggala and will feature an ayurvedic spa where treatments can be taken on a platform floating on the lake. Further along the south coast, Mirissa Beach is attracting travelers in need of a full mind-body reset. The laid-back surfer town — think Venice Beach minus the tech crowd — comes alive at night with bars and barbecue restaurants overlooking the turquoise bay; when you’re ready to turn in, there are earthy, low-key lodges peppered throughout the jungle, such as Surf & Yoga, which offers daily on-site yoga and private surf lessons. —Alex Schechter