Passenger Increase Boosts JetBlue's Profit

JetBlue Airways Corp. said fourth-quarter earnings rose 29% as it carried more passengers.

The New York-based airline also said more competition and higher costs would reduce profit margins for the current quarter and 2004.

Fourth-quarter net income rose to $19.5 million, or 17 cents a share, from $15.2 million, or 15 cents, a year earlier, JetBlue said. Sales rose 40% to $262.9 million.

JetBlue shares fell 51 cents to $23.49 on Nasdaq.