JetBlue 2011 income down 11.3%; 4Q sets record income of $23 million

JetBlue Airways (B6) reported 2011 net income of $86 million, down 11.34% from a $97 million profit in the year-ago period because of a 49.2% year-over-year increase in fuel-related expenses,  as well as debt payments and capital expenditures amounting to approximately $234 million in the fourth quarter. However, the carrier told reporters and analysts it recorded "the best fourth-quarter performance in our history," reporting a net income of $23 million, up 187.5% from the $8 million earned in the year-ago quarter.