JetBlue said Thursday that its fourth quarter profits had more than doubled from $87 million to $190 million.
However, shares of JetBlue stock are down more than 4% in morning trading.
In fact, airline stocks are down across the board with shares of American, United, Delta, and Southwest all down at least 2%.
For the year, profits for the New York-based airline rose from $401 million in 2014, to $677 million.
"We posted another strong quarter, producing above industry average revenue performance and running a safe and reliable operation," JetBlue president and CEO Robin Hayes said in a statement.
Much of the increase in profitability can be attributed to the the dramatic fall in oil prices.
In 2015, JetBlue saved more than $550 million in fuel costs. This is the in spite of the $33 million the company lost in the fourth quarter of 2015 due to the fuel hedging activities.
According to JetBlue, the currently has no fuel hedges in place for the first and second quarters of this year.
For the first quarter of 2016, the airline expects per seat mile operating costs to remain flat or fall by 2% on a year-over-year basis while seat capacity is expected to grow 14-16%.
However, JetBlue's guidance did not include the effects of the paralyzing blizzard caused by winter storm Jonas that forced the airline to cancel 900 flights.
Although the airline indicated on its earnings call that demand for the first few months of 2016 remain solid.
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