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.
Daniel McKenzie
Seaport Global Securities
4 questions for JBLU
Duane Pfennigwerth
Evercore ISI
4 questions for JBLU
Jamie Baker
JPMorgan Chase & Co.
4 questions for JBLU
Savanthi Syth
Raymond James
4 questions for JBLU
Thomas Fitzgerald
TD Cowen
4 questions for JBLU
Catherine O'Brien
Goldman Sachs
3 questions for JBLU
Michael Linenberg
Deutsche Bank
3 questions for JBLU
Ravi Shanker
Morgan Stanley
3 questions for JBLU
Scott Group
Wolfe Research
3 questions for JBLU
Stephen Trent
Citigroup Inc.
3 questions for JBLU
Andrew Didora
Bank of America
2 questions for JBLU
Brandon Oglenski
Barclays
2 questions for JBLU
Conor Cunningham
Melius Research
2 questions for JBLU
Atul Maheswari
UBS Group
1 question for JBLU
Thomas Wadewitz
UBS
1 question for JBLU
Tom Wadewitz
UBS Group
1 question for JBLU
Recent press releases and 8-K filings for JBLU.
- JetBlue's Q2 2025 performance saw RASM exceed guidance with a (1.5%) year-over-year change and CASM ex-Fuel up 6.0% year-over-year, outperforming guidance.
- The company increased its JetForward program target by $50 million to $850-950 million in incremental EBIT through 2027, with $90 million realized in 1H 2025 and a cumulative $290 million expected by end of 2025.
- For Q3 2025, JetBlue forecasts ASMs year-over-year to be (1.0%) to 2.0% and CASM ex-Fuel year-over-year to be 4.0% to 6.0%.
- Full-year 2025 guidance includes ASMs year-over-year of (2.5%) to (0.5%) and CASM ex-Fuel year-over-year of 5.0% to 7.0%.
- JetBlue's Pratt & Whitney AOG forecast is improving, supporting capital-light growth, with AOGs expected to average below 10 for 2025 and fully resolve by year-end 2027.
- JetBlue is significantly expanding its service from Fort Lauderdale-Hollywood International Airport (FLL), launching year-round, nonstop service to Norfolk (ORF) and Tampa (TPA), and resuming flights to Atlanta (ATL) and Austin (AUS).
- The airline is adding an additional daily flight on existing routes from FLL to Las Vegas (LAS), Los Angeles (LAX), Phoenix (PHX), Raleigh-Durham (RDU), and Richmond (RIC).
- JetBlue is expanding its premium Mint experience on routes including Las Vegas, Los Angeles, and Phoenix, with 13 daily Mint flights available from FLL this winter.
- JetBlue's operations at FLL are growing, with current average of 72 daily departures to 31 nonstop destinations increasing to 95 daily departures to 37 cities by December 2025.
- A new Blue Sky collaboration with United Airlines will allow loyalty customers to earn and redeem points on over 125 flights from FLL later this year.
- Vladimir Galkin, JetBlue's second-largest shareholder with a nearly 10% stake valued at around $212 million, is considering selling his shares if the airline's cost-cutting and turnaround efforts fail to improve financial performance, as his stock has fallen over 40% this year.
- Galkin has proposed shrinking JetBlue's 13-member board to reduce expenses and boost profitability, noting that current board directors (excluding Icahn representatives) own less than 1% of the company.
- He might hold his investment for about another year to see if the company's "JetForward" strategy, which targets up to $900 million in earnings before interest and taxes (EBIT) by 2027, delivers tangible results.
- JetBlue's revenue in Q1 2025 declined by 3.1% year-on-year to $2.14 billion but matched analysts' consensus estimates, while analysts maintain a 'Hold' recommendation with an average price target of $4.46.
- CEO Joanna Geraghty says break-even operating margins in 2025 are unlikely due to weaker-than-expected travel demand.
- The airline will reduce flights, pause aircraft retrofits, and park some Airbus jets to control costs.
- JetBlue is relying on borrowed cash to fund operations as recovery will not fully compensate for earlier losses.
- The company is evaluating leadership roles to combine or restructure positions and improve efficiency.
- JetBlue’s stock fell nearly 5% in premarket trading following these announcements.
- JetBlue’s Blue Sky Partnership with United combines the TrueBlue and MileagePlus loyalty systems and expands flight sales on both airlines’ websites, aiming to drive cross-brand benefits.
- Ancillary revenue growth is highlighted by Paisley’s strong performance, with reported quarterly EBIT run rates between $20–25 million and plans to extend its services to additional airline partners.
- Operational improvements and cost initiatives are emphasized through enhanced data-driven decision-making and digital technology deployments, contributing to improved controllable cost performance and overall efficiency.
- Q1 2025 results delivered in-line with guidance, with unit revenue meeting targets, nearly 4-point improved A14, industry-leading NPS, and effective supply management (4.3% capacity reduction and 1.3% RASM) .
- Achieved a consecutive quarterly beat on CASM ex-Fuel performance, driven by cost savings and strong operational execution .
- Ended the quarter with robust liquidity, reporting $3.8B (building on a prior $3.2B capital raise) to fuel multi-year initiatives .
- Enhanced its JetForward strategy with early wins boosting service reliability and premium offerings, with an imminent announcement on a domestic airline partnership .
- Outlined a multi-year plan targeting $800-900M in incremental EBIT through 2027 to drive long-term growth .
- Proactively managing capacity and evaluating cost constraints amid near-term revenue uncertainty in a shifting macroeconomic environment .
- Planned $1.3B in capex for 2025 to support ongoing strategic initiatives .
- Domestic first class innovation: Executives highlighted the rollout of a refined premium product (junior/mini Mint) designed to boost revenue quality without increasing the overall number of premium seats, stressing a monetization approach from the outset.
- Loyalty program as a strategic asset: The loyalty program, which now represents 12% of total revenue, is emphasized as a key growth driver, with ongoing efforts to deepen partnerships and improve customer currency.
- Dynamic network and balance sheet strategy: The team discussed proactive network adjustments—reducing underperforming routes and enhancing schedule flexibility—to drive profitability, while also emphasizing a strong liquidity position and robust asset base to weather market downturns.
- Updated Q1 2025 guidance: JetBlue now expects a 4-5% decline in Available Seat Miles and unchanged Operating Revenue per ASM, with CASM Ex-Fuel remaining unchanged; fuel price guidance is set at $2.55 - $2.65 per gallon and capital expenditures are revised to approximately $215 million.
- Challenges and operational responses: The company is experiencing weather-related disruptions and demand softness due to mixed macroeconomic factors, leading to targeted capacity reductions in March and April to mitigate impacts.
- Ongoing JetForward initiatives: JetBlue continues to advance its JetForward strategy by focusing on operational reliability and adjustments to drive momentum amid current headwinds.