JetBlue Airways Corporation (JBLU) is a major airline based in the United States, specializing in low-cost air travel. The company operates a fleet of aircraft to provide passenger services and ancillary offerings, focusing on key markets such as the New York metropolitan area. JetBlue also generates revenue through loyalty programs, vacation packages, and other non-ticket services.
- Passenger Revenue - Provides air travel services, including seat sales, baggage fees, and premium offerings like Even More® Space.
- Other Revenue - Generates income from loyalty programs (TrueBlue® points), vacation packages, airport concessions, and advertising.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Carol Clements Executive | Chief Digital and Technology Officer | None. | Joined JetBlue in April 2021; previously served as CTO for Pizza Hut and held leadership roles at Southwest Airlines. | |
Dawn Southerton Executive | VP, Controller, and Principal Accounting Officer | None. | Joined JetBlue in December 2023; previously served as VP and Controller at Pepsi Beverages Company. | |
Eileen McCarthy Executive | General Counsel and Corporate Secretary | None. | Rejoined JetBlue in 2024; became General Counsel on August 5, 2024; previously served as VP and Associate General Counsel at JetBlue from 2006 to 2021. | |
Joanna Geraghty Executive | Chief Executive Officer (CEO) | Board Member at L3Harris Technologies; Chairperson of Concern Worldwide; Board Member of JetBlue Foundation. | Joined JetBlue in 2005; became CEO on February 12, 2024; previously served as President and COO, EVP of Customer Experience, and Chief People Officer. | |
Martin St. George Executive | President | None. | Rejoined JetBlue in 2024; became President on February 26, 2024; previously served as EVP and Chief Commercial Officer and held other leadership roles at JetBlue. | |
Ursula Hurley Executive | Chief Financial Officer (CFO) | None. | Joined JetBlue in 2004; became CFO in June 2021; previously served as VP, Treasurer, and VP of Structural Programs. | |
Warren Christie Executive | Chief Operating Officer (COO) | None. | Joined JetBlue in 2003; became COO on February 12, 2024; previously led Safety, Security, Fleet Operations, and JetBlue University. | |
Ellen Jewett Board | Director | Managing Partner at Canoe Point Capital; Director at Booz Allen Hamilton; Trustee at Children’s Aid and The Hastings Center. | Joined JetBlue’s board in 2011; chairs the Governance & Nominating and ESG Committees. | |
Monte Ford Board | Director | Board Member at Akamai Technologies, Iron Mountain Inc., and Centene Corp.; Principal Partner at CIO Strategy Exchange. | Joined JetBlue’s board in 2021; former CIO of AMR Corporation (American Airlines). | |
Nik Mittal Board | Director | President of Molecule Ventures; Partner at Plankton Energy; Advisor to CleanPlanet Chemical. | Joined JetBlue’s board in 2022; expertise in capital markets and sustainability. | |
Peter Boneparth Board | Independent Board Chair | Director at Kohl’s Corporation. | Joined JetBlue’s board in 2008; became Independent Board Chair in May 2020; previously served as CEO of Jones Apparel Group. | |
Robert Leduc Board | Director | Director at Howmet Aerospace and AAR Corp.. | Joined JetBlue’s board in 2020; former President of Pratt & Whitney and Sikorsky Aircraft. | |
Sarah Robb O’Hagan Board | Director | CEO of EXOS; Founder of Extreme Living LLC. | Joined JetBlue’s board in 2018; former CEO of Flywheel Sports and Global President of Gatorade. | |
Sean Menke Board | Director | Board Member at Waste Management; Senior Advisor to UP.Labs. | Joined JetBlue’s board in September 2024; former CEO of Sabre Corp., Frontier Airlines, and Pinnacle Airlines. | |
Teri McClure Board | Director | Director at Fluor Corporation, GMS Inc., and Lennar Corp.. | Joined JetBlue’s board in 2019; former CHRO and General Counsel at UPS. | |
Thomas Winkelmann Board | Director | Executive Chair of Zeitfracht Group. | Joined JetBlue’s board in 2013; former CEO of airberlin and Lufthansa Munich Hub. | |
Vivek Sharma Board | Director | Adjunct Professor at USC; Former CEO of InStride. | Joined JetBlue’s board in 2019; expertise in eCommerce and digital guest experience. |
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Given the ongoing issues with Pratt & Whitney's GTF engines and the increasing number of grounded aircraft expected over the next two years, can you provide more concrete details on how this will impact your capacity plans, and what specific mitigation strategies you have in place to minimize operational disruption?
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With the Northeast Alliance no longer in effect and discussions about new partnerships still ongoing, how do you plan to offset the loss of benefits previously gained from the NEA, and what is the timeline for securing meaningful partnerships that can contribute to your JetForward targets?
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Considering your current balance sheet metrics and ongoing cash burn, what key levers will enable you to achieve free cash flow positive status within the JetForward timeline, and how confident are you that these levers will materialize given potential market uncertainties?
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In light of increased competitive capacity pressures in key markets like Boston and Fort Lauderdale, and with competitors like Spirit emerging from bankruptcy with renewed focus, how are you adjusting your network and pricing strategies to maintain and grow your market share in these critical regions?
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You mentioned capturing $95 million in revenue initiatives ahead of schedule in 2024, moving some benefits forward from 2025; given this acceleration, are you now expecting to exceed your original JetForward EBIT targets for 2025 and beyond, or could there be gaps in future periods as a result of this pull-forward?
Research analysts who have asked questions during JETBLUE AIRWAYS earnings calls.
Jamie Baker
JPMorgan Chase & Co.
5 questions for JBLU
Catherine O'Brien
Goldman Sachs
4 questions for JBLU
Daniel McKenzie
Seaport Global Securities
4 questions for JBLU
Duane Pfennigwerth
Evercore ISI
4 questions for JBLU
Ravi Shanker
Morgan Stanley
4 questions for JBLU
Savanthi Syth
Raymond James
4 questions for JBLU
Scott Group
Wolfe Research
4 questions for JBLU
Thomas Fitzgerald
TD Cowen
4 questions for JBLU
Conor Cunningham
Melius Research
3 questions for JBLU
Michael Linenberg
Deutsche Bank
3 questions for JBLU
Stephen Trent
Citigroup Inc.
3 questions for JBLU
Andrew Didora
Bank of America
2 questions for JBLU
Atul Maheswari
UBS Group
2 questions for JBLU
Brandon Oglenski
Barclays
2 questions for JBLU
Brandon Oglendski
Barclays PLC
1 question for JBLU
Dan McKenzie
Seaport Global
1 question for JBLU
Duane Fenningworth
Evercore Inc.
1 question for JBLU
Savi Syth
Raymond James
1 question for JBLU
Shannon Doherty
Deutsche Bank
1 question for JBLU
Thomas Wadewitz
UBS
1 question for JBLU
Tom Fitzgerald
TD Cowen
1 question for JBLU
Tom Wadewitz
UBS Group
1 question for JBLU
Recent press releases and 8-K filings for JBLU.
- Global Crossing Airlines Group, Inc. (GlobalX) reported a 11% increase in revenue to $58.0 million and a 22% increase in EBITDAR to $18.9 million for the third quarter ended September 30, 2025, compared to the prior-year period.
- The company's net loss improved to $(2.0) million, or $(0.03) per basic and diluted share, in Q3 2025, compared to a net loss of $(4.9) million, or $(0.08) per share, in Q3 2024.
- Despite achieving record aircraft utilization, GlobalX lost approximately 500 block hours to unscheduled maintenance, impacting profitability. In response, the company has overhauled leadership, redesigned processes, and reduced over $5 million in annualized office and operating costs.
- GlobalX is expanding its fleet, having taken delivery of the first of four leased A319s and its first purchased A320, both expected in revenue service in December 2025, and secured a strategic ACMI agreement with Sunrise Airways for two A320 aircraft starting in November 2025.
- JetBlue's Q3 2025 performance met or exceeded guidance midpoints, with CASM ex-fuel up 3.7% year-over-year (YoY) and RASM down 2.7% YoY.
- For Q4 2025, the company expects ASMs to grow between (0.75%) and 2.25% YoY, RASM to be between (4.0%) and 0.0% YoY, and CASM ex-Fuel to increase between 3.0% and 5.0% YoY.
- Full-year 2025 guidance for ASMs and CASM ex-Fuel was improved, with ASMs expected between (2.0%) and 0.0% YoY and CASM ex-Fuel between 5.0% and 6.0% YoY.
- Capital expenditures are projected to be ~$1.1 billion for FY 2025, with a significant reduction anticipated to trend at or below $1 billion annually starting in 2026 and through the end of the decade.
- The company is making progress on its JetForward initiatives, including Fort Lauderdale expansion and the Blue Sky collaboration with United Airlines, which is expected to deliver significant value into 2026.
- JetBlue Airways reported Q3 2025 results at the better end of guidance ranges across all metrics, including unit revenues and costs, achieving meaningful margin improvement. The "Jet Forward" plan is on track to generate a cumulative $290 million of incremental EBIT this year and is confident in meeting its $850 to $950 million commitment for 2027.
- For 2026, the company aims for low single-digit unit costs and intends to build a plan for a break-even or better operating margin. This will be supported by capacity growth from new aircraft deliveries and the return of grounded aircraft, with capital expenditures expected to be at or below $1 billion annually through the end of the decade.
- Key initiatives include the "Blue Sky" collaboration with United Airlines, which enabled point accrual and redemption in Q3 2025, with interline sales and reciprocal loyalty launching in 2026. The company is also launching domestic first class in 2026 and opening its first airport lounge at JFK by the end of this year, with a Boston lounge in 2026, all part of a strategy to lean into the premium customer segment.
- JetBlue ended Q3 2025 with $2.9 billion in cash and marketable investments, exceeding its 20% liquidity target. A modest capital raise is anticipated in 2026 to support new aircraft deliveries and the maturity of $325 million in convertible notes.
- JetBlue reported strong Q3 2025 results, exceeding guidance across all metrics, including a 3-point improvement in operating margin compared to July guidance. The company is on track to achieve $290 million of incremental EBIT by year-end 2025 and $850 to $950 million by 2027 from its Jet Forward plan.
- For 2026, JetBlue projects low single-digit unit costs and low to mid-single-digit capacity growth, aiming for a break-even or better operating margin. Annual capital expenditures are expected to remain at or below $1 billion through the end of the decade.
- Key strategic initiatives include reestablishing JetBlue as the largest carrier in Fort Lauderdale with a 35% year-over-year capacity increase for the IATA winter season, and the Blue Sky partnership with United Airlines, which has enabled loyalty point accrual and redemption.
- The company maintains a healthy liquidity of $2.9 billion as of Q3 2025 and anticipates a modest capital raise in 2026 to manage new aircraft deliveries and a $325 million convertible note maturity. Grounded aircraft due to GTF engine issues have decreased to six currently, with projections of low to mid-single digits for 2026.
- JetBlue Airways reported Q3 2025 results at the better end of its guidance ranges, with unit revenues down 2.7% year-over-year and CASM ex-fuel up 3.7% year-over-year, contributing to meaningful margin improvement.
- For Q4 2025, the company anticipates unit revenues to be between flat and down 4% year-over-year and CASM ex-fuel growth of 3% to 5%.
- The JetForward plan is on track to deliver $290 million of incremental EBIT in 2025 and an estimated $850 million-$950 million by 2027.
- Looking to 2026, JetBlue aims to achieve a break-even or better operating margin, with unit costs projected to be in the low single digits and capacity growth in the low to mid-single digits. Key initiatives like the Blue Sky collaboration, domestic first class launch, and new airport lounges are expected to drive earnings momentum.
- JetBlue Airways reported a net loss of $143 million, or $0.39 per share, for the third quarter of 2025, which was larger than the previous year's loss but better than analysts' expectation of a $0.42 per share loss.
- The airline's revenue declined by 1.8% year-over-year to $2.3 billion, slightly missing analyst estimates, primarily due to a 2.9% drop in passenger revenue.
- The JetForward strategy is targeting $290 million in incremental EBIT by year-end, with $90 million achieved in the first half of 2025.
- Operating expenses per available seat mile, excluding fuel, rose by 3.7% year-over-year in Q3 2025.
- JetBlue's stock has fallen about 40% year-to-date, with analysts maintaining a Hold rating and a $5.00 price target.
- JetBlue reported Q3 2025 operating revenue of $2.3 billion, a 1.8% decrease year-over-year, resulting in a net loss of $(143) million and basic loss per common share of $(0.39). These results were at the better end of guidance ranges.
- The company's JetForward strategy is progressing towards delivering $290 million of incremental EBIT by year-end 2025, with $180 million in cumulative gains achieved so far. Additionally, JetBlue is expanding its presence in Fort Lauderdale, planning 17 new routes and increased frequencies in 2025, projecting a 35% year-over-year increase in its schedule.
- For Q4 2025, JetBlue forecasts Available Seat Miles (ASMs) Year-Over-Year between (0.75%) and 2.25%, Revenue per Available Seat Mile (RASM) Year-Over-Year between (4.0%) and 0.0%, and CASM Ex-Fuel Year-Over-Year between 3.0% and 5.0%. Full-year 2025 Capital Expenditures are estimated at ~$1.1 billion.
- As of September 30, 2025, JetBlue's operating fleet comprised 283 Airbus aircraft after the retirement of its Embraer E190 fleet. The company also reported a strong liquidity position of $2.9 billion, excluding its $600 million revolving credit facility.
- Spirit Airlines is currently in its second bankruptcy within a year and plans to furlough approximately 1,800 flight attendants, which is about one-third of its cabin crew.
- The airline is reducing its flight capacity by 25% year-over-year starting November and has already pulled out of 11 U.S. cities as part of a necessary rightsizing effort to stabilize its finances.
- These financial struggles have been exacerbated by a blocked merger with JetBlue, and Spirit's management is seeking $100 million in cost cuts from its pilots.
- Union representatives have warned that the ongoing bankruptcy process will likely lead to contract changes and cost-cutting demands on pilots and flight attendants.
- JetBlue tightened its capacity range, improved the midpoint of its revenue guide by 1.25 points, and improved the midpoint of its controllable cost guide for Q3 2025, noting the quarter is performing very well.
- The JetBlue Airways program has achieved $180 million in EBIT contribution since its launch in July 2024, with a goal of $850 million to $950 million in EBIT by the end of 2027. The company hopes to achieve $290 million by the end of 2025.
- Operational reliability has significantly improved, leading to JetBlue being recognized as the "most improved" airline in Wall Street Journal rankings and a double-digit increase in customer Net Promoter Score in the first half of 2025.
- The company is making a significant strategic bet on Fort Lauderdale, planning its biggest schedule ever this winter with 113 flights a day to 49 cities, leveraging newly available gate capacity.
- JetBlue anticipates material improvement in GTF engine issues, with average aircraft on ground (AOGs) expected to be less than 10 throughout 2025 (the peak year), and full resolution by the end of 2027, which will enable growth in 2026.
- JetBlue has successfully delivered $180M of incremental EBIT benefit from its JetForward initiatives through 1H25 and is on track to achieve $290M by year-end. The overall JetForward target has been upsized to ~$850-950M incremental EBIT by year-end 2027.
- The company's cost transformation program realized $25M in savings in 1H25, and it has deferred ~$3B in capital expenditure into the 2030s.
- JetBlue is strengthening its position in Fort Lauderdale, announcing 17 new routes and increased frequency on 12 high-demand markets since the beginning of 2025, anticipating its largest ever schedule with 113 peak departures this winter, up 35% YoY.