JetBlue Airways Corp., a low-fare airline that's made money for 12 consecutive quarters, will raise the profit sharing for its employees to 17 percent of 2003 salary from 15.5 percent in the previous year.
The New York-based airline will pay $31 million into a retirement account for the employees for last year, compared with $16.8 million for 2002, said JetBlue spokesman Todd Burke. The payment to the account is made in March.
All 5,500 JetBlue employees are eligible for the payment. The airline had 4,000 workers in 2002. Employees were informed of the payment Wednesday, the airline's fourth anniversary.
JetBlue has won passengers from larger airlines with discount fares and amenities such as leather seats and seat-back televisions. Net income for 2003 rose 89 percent to $103.9 million, or 97 cents a share, and sales increased 57 percent to $998.4 million.