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 Airways Corporation (NASDAQ: JBLU), stylized as jetBlue, is an American low-cost airline headquartered in New York City. A major air carrier and the sixth-largest airline in the United States. JetBlue is headquartered in the Long Island City neighborhood of the New York City borough of Queens, with its main base at John F. Kennedy International Airport. It also maintains corporate offices in Cottonwood Heights, Utah and Orlando, Florida.
^ Jump up to: a b Cuozzo, Steve. "JetBlue Triples Size of its Queens Offices." New York Post. December 24, 2002. Retrieved on January 20, 2010. "74,000 square feet at 118–29 Queens Blvd., also known as Forest Hills Tower" and "Boulevard in Forest Hills – possibly the largest office lease in Queens this year. JetBlue was previously at 80–02 Kew Gardens Rd., across the street."
The TWA Hotel is the TWA Flight Center structure currently being rebuilt as 505-room hotel, preserving the Eero Saarinen headhouse while replacing the structures on either side of the headhouse. Situated in front of JetBlue's JFK terminal, JetBlue has stated that it estimates the ownership of the hotel would be between 5–10% of the final total investment. The hotel will be an effective replacement for the Ramada Plaza JFK Hotel on the north end of the airport grounds in Building 144, which closed in 2009.