JetBlue Airways ( JBLU ) Q1 2013 Earnings Call April 25, 2013 9:30 AM ET
Good morning, ladies and gentlemen, and welcome to the JetBlue Airways First Quarter 2013 Conference Call. Today's call is being recorded.
We have on the call today, Dave Barger, JetBlue's CEO; and Mark Powers, JetBlue's CFO. Also on call for Q&A is Robin Hayes, JetBlue's Chief Commercial Officer.
As a reminder, this call includes forward-looking statements about future events. Actual results may differ materially from those expressed in the forward-looking statements due to many factors, and therefore, investors should not place undue reliance on these statements. For additional information concerning factors that could cause results to differ from the forward-looking statements, please refer to the company's annual and periodic reports filed with the Securities and Exchange Commission.
This call also references non-GAAP results. You can find the reconciliation of these non-GAAP results in JetBlue's earnings press release on Investor Relations section of the company's website at jetblue.com.
bInsurance/b Industry Predictions » bHoliday Insurance/b Tips
During the latest crisis, insurers were struck as intensely as securities firms and investment bankers. Most insurers were forced to scale back their dividends in 2009. In 2010, however, it looks that the trend has reversed. In contrast with what happened in 2009, many U.S. insurance houses actually raised their dividend payout for the opening 2Q of 2010 in the wake of the stabilizing markets. Even more insurers are predicted to top up their dividends towards the end of this calendar year, Bloomberg experts say.
Even more media spotlight is attracted by the ongoing bids of mergers and acquisitions. Bloomberg indicates that in the business, players like to stay informed about the performance and accomplishments of their opponents to be able to retain their market share. And that is the reason why they often make homogeneous moves. So what is the situation in Canada? When it comes to Canadian banks, they are almost certainly outperforming the rest of the world currently companies operating in the insurance industry are facing fallen demand from first-time purchasers. During the 2010 Insurance Market Briefing in Toronto, Ontario, experts from area agreed that year 2010 has been an encouraging year for the trade, especially weighed against the preceding period of chaos. It did not exactly bring about growth, but it definitely helped the sector achieve some steadiness in the markets. That let the insurers relax a little bit after several years of great efforts.
Nonetheless, the regulatory environment is only now yet to transform. What do we in Non Medical Life Insurance brokerage expect? Considering the announced law amendments expected from the Office of the Superintendent of Financial Institutions (OSFI), the International Accounting Standards Board (IASB) and other bodies, no insurer is purposefully going to weigh its balance sheet down with supplemental dividends to their shareholders sooner than the final character of the regulatory burden has been established. Therefore, we are reasonably confident that Canadian insurance company shareholders will not see a significant betterment for a few more months.