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JetBlue 2nd-qtr earnings drop 19 pct., higher fares not enough offset fuel and other costs
NEW YORK (AP) ' JetBlue says its second-quarter earnings fell 19 percent as rising costs for fuel and maintenance overshadowed a steep uptick in revenue due to higher fares.
The airline, based in New York, said Tuesday it earned $25 million, or 8 cents per share, compared with year-ago results of $31 million, or 10 cents per share.
Revenue rose 22 percent to $1.15 billion.
Analysts polled by FactSet Research expected a profit of 9 cents per share on $1.13 billion in sales.
JetBlue Airways Corp. says it paid 58 percent more for fuel between April and June than it did the year before. Maintenance costs rose by 29 percent as the airline flew more planes.
JetBlue made 14 percent more per passenger in the period, mostly on higher fares.