JetBlue announces record Q1 revenue but loss of over $100m

JetBlue reported a net loss for the first quarter of 2023 (Q1 2023) of $192 million or 58 cents per share, with the adjusted loss coming to $111 million for 34 cents a share The loss came despite the carrier reporting its highest-ever Q1 revenue, which jumped 34.1% to $2.3bn as capacity was expanded by 9% over the period. The airline said its operating expenses per available seat mile (CASM) for the first quarter of 2023 increased 12.1%. Expenses minus fuel and related costs and taxes were up 1.2% over the period, taking in an average hedge-included jet fuel price