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JetBlue Early Earnings Season Winner

Thursday, 21 Oct 2010 | 5:32 PM ET

If you’re looking for a standout this earnings season, look no further than the airlines.

The airline industry turned in its best quarterly performance in years, reversing losses from a year ago to earn more than $1.6 billion on strong business and overseas travel.

And of all the airlines, the Fast Money desk was perhaps most impressed with the performance in JetBlue .

The low-cost carrier reported record third-quarter profit and revenue as it flew more passengers and made more money from fares and fees during the busy summer travel season.

By the numbers the company earned $59 million, or 18 cents per share in the three months ended Sept. 30. A year ago, JetBlue earned $15 million, or 5 cents per share.

JetBlue relies heavily on vacationers traveling to the Caribbean, but it's also trying to appeal to business travelers on the East Coast, who are looking for lower priced fares.

However, competition for business travelers may be getting hot and heavy. Southwest has made it clear that it intends to compete aggressively in that area with its acquisition of AirTran.

Can JetBlue continue to soar? Or has the stock reached cruising altitude?

Don’t make a move until you hear our exclusive conversation with JetBlue CEO Dave Barger. Watch the video now.

Winners of Earnings Season: Airlines
Breaking down JetBlue's soaring results, with Dave Barger, JetBlue CEO.




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Trader disclosure: On Oct. 21, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Cortes owns (K); Cortes owns (TSN); Cortes is short crude oil; Cortes is short gold; Cortes is short (RSX); Cortes is short the U.K. Pound; Cortes owns U.S. Treasuries; Cortes owns the S&P 500; Terranova owns (APA), (AAPL), (AXP), (C), (CRM), (GOOG), (GS), (FCX), (MMM), (ORCL), (PCP), (PEP), (PFE), (TBT), (UPL), (VRTS), (XBI); Adami owns (AGU), (BTU), (NUE), (C), (GS), (INTC), (MSFT); Adami’s wife works at Merck; Weiss owns (AAPL); Weiss owns (QCOM); Weiss owns (PWER); Weiss owns (VZ); Weiss owns (CSX)

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