Revenue during the quarter went up marginally by 2.95 percent to $1,641 million from $1,594 million in the previous year period. Gross margin for the quarter expanded 46 basis points over the previous year period to 67.40 percent. Total expenses were 81.96 percent of quarterly revenues, up from 79.30 percent for the same period last year. That has resulted in a contraction of 266 basis points in operating margin to 18.04 percent.

Operating income for the quarter was $296 million, compared with $330 million in the previous year period.

"I would like to thank our over 20,000 crewmembers for going above and beyond once again last year. They are truly JetBlue’s greatest asset and I want to congratulate each of them on an outstanding 2016. We are focused on achieving the operational and financial excellence that will give us the platform to grow our culture even further than the 100 destinations we serve today" said Robin Hayes, JetBlue's president and chief executive officer.

For the first quarter of 2017, year over year CASM excluding fuel is expected to grow between 3% and 5%. For the full year 2017, JetBlue expects year over year CASM excluding fuel to grow between 1% and 3%, consistent with prior guidance. In the first quarter 2017, capacity is expected to increase between 4.5% and 6.5%. For the full year 2017, JetBlue continues to expect capacity to increase between 6.5% and 8.5%.