NEW YORK--(BUSINESS WIRE)--JetBlue Airways (NASDAQ: JBLU) today announced that Joanna Geraghty, currently the company’s president and chief operating officer, will succeed Robin Hayes as chief executive officer, effective February 12, 2024. Hayes will continue to serve on the company’s Board of Directors until that time, at which point Geraghty will join the Board. Hayes will serve as a strategic advisor to the company over the coming months. Hayes said: “It’s bittersweet to retire from this airline I love ...

One of the newest and fastest growing weapons in the fight against global warming is technology to remove carbon dioxide from the atmosphere, known as direct air capture. Some liken it to sucking CO2 out of the atmosphere. However, it's not a perfect science, and most methods require a lot of water. That is about to change, with new companies offering new strategies.Direct air capture is already a growing business, and governments around the world are adding to it, providing tax incentives and grants to hel ...

LOS ANGELES, Jan. 08, 2024 (GLOBE NEWSWIRE) -- FLYR, the AI-powered technology platform for travel, announced today that JetBlue (NASDAQ:JBLU) is extending its partnership with FLYR. The commercial agreement has been extended to continue to boost the airline's revenue optimization capabilities using decision intelligence powered by deep learning. As the travel and aviation industry emerges from the shadow of COVID-19, passenger numbers are skyrocketing past pre-pandemic levels. For example, a midyear survey ...

3Q23 Earnings Presentation October 31, 2023 ...

JetBlue Airways Corporation. (NASDAQ:JBLU) Q3 2023 Earnings Conference Call October 31, 2023 ET Company Participants Robin Hayes - Chief Executive Officer Joanna Geraghty - President and Chief Operating Officer Ursula Hurley - Chief Financial Officer Dave Clark - Head of Revenue and Planning Andres Barry - President of JetBlue Travel Products Conference Call Participants Savanthi Syth - Raymond James Daniel McKenzie - Seaport Global Jamie Baker - JPMorgan Conor Cunningham - Melius Research Shannon Doherty - ...

Financial Performance - In Q3 2023, the company reported a revenue decrease of 8.2%, or $209 million, year-over-year, totaling $2.4 billion[105]. - The operating loss for Q3 2023 was $156 million, with a net loss of $153 million, compared to a net income of $57 million in Q3 2022[110]. - Adjusted earnings per share for Q3 2023 was $(0.39), down from $0.21 in Q3 2022[110]. - The company expects Q4 2023 revenue to decrease between 10.5% and 6.5% compared to Q4 2022, while full-year revenue is projected to increase by 3.0% to 5.0%[109]. - For the nine months ended September 30, 2023, the company reported a net loss of $207 million, an operating loss of $163 million, and an operating margin of (2.2)%, compared to a net loss of $386 million and an operating margin of (5.1)% for the same period in 2022[125]. - Operating cash flows improved to $486 million for the nine months ended September 30, 2023, compared to $321 million in the same period of 2022[152]. - Free Cash Flow for the nine months ended September 30, 2023, was $(287) million, compared to $(278) million in the same period of 2022[179]. - Total operating revenues for the three months ended September 30, 2023, were $2,353 million, a decrease of 8.2% from $2,562 million in the same period of 2022[175]. - Total operating expenses for the three months ended September 30, 2023, increased to $2,509 million, up 3.6% from $2,423 million in the same period of 2022[175]. - Operating loss for the three months ended September 30, 2023, was $(156) million compared to an operating income of $139 million in the same period of 2022[175]. - Net loss for the three months ended September 30, 2023, was $(153) million, compared to a net income of $57 million in the same period of 2022[177]. Revenue and Passenger Metrics - Passenger revenue increased by $523 million, or 8.3%, to $6,842 million for the nine months ended September 30, 2023, driven by an 11.1% increase in revenue passengers[126]. - Revenue passengers increased to 10,911 thousand for the three months ended September 30, 2023, up 3.9% from 10,502 thousand in the same period last year[141]. - Revenue passenger miles (RPMs) rose to 14,777 million, a 5.8% increase from 13,963 million year-over-year[141]. - The average fare decreased by 12.3% to $201.73, while passenger yield per mile dropped by 13.9% to 14.89 cents[112]. - Average fare decreased to $201.73, down 12.3% from $229.95 in the prior year[141]. Operating Expenses - Operating expenses increased by $369 million, or 5.2%, to $7,453 million for the nine months ended September 30, 2023, with special items contributing $111 million to this increase[129]. - Salaries, wages, and benefits increased by 17.0%, or $115 million, in Q3 2023, primarily due to a new pilot union contract[117]. - Aircraft fuel and related taxes decreased by 17.8%, or $147 million, with the average fuel price dropping by 23.3% to $2.94 per gallon[116]. - Other operating expenses increased by $103 million, or 10.0%, driven by increased demand and costs associated with ATC delays and weather-related disruptions[137]. - Landing fees and other rents increased by $87 million, or 21.1%, due to rate increases and a 6.4% rise in departures[132]. - Salaries, wages, and benefits rose by $246 million, or 12.0%, primarily due to a new pilot union contract that included a 14% initial pay rate increase[131]. - Aircraft fuel and related taxes decreased by $262 million, or 11.4%, with the average fuel price dropping by 18.0% to $3.02 per gallon[130]. Fleet and Capacity - System capacity increased by 7.1% in Q3 2023 compared to Q3 2022, with available seat miles (ASMs) reaching 17,362 million[112]. - As of September 30, 2023, the total fleet consisted of 296 aircraft, with 231 owned and 65 leased under operating leases[161]. - The average age of the operating fleet was 12.6 years as of September 30, 2023[161]. - The aircraft order book includes 137 aircraft scheduled for delivery from 2023 to 2027, with 56 Airbus A321neo and 81 Airbus A220[164]. Future Outlook and Risks - The company expects operating results to fluctuate significantly due to external factors, including air traffic controller shortages and supply chain disruptions[141]. - The company anticipates continued increases in expenses as it acquires additional aircraft and expands flight frequencies[141]. - The company anticipates using a mix of cash and debt financing for aircraft scheduled for delivery in 2023, with potential increases in fixed costs regardless of financing method[164]. - A hypothetical 10% increase in aircraft fuel costs would result in an additional expense of approximately $312 million over the next 12 months[182]. - As of September 30, 2023, the company has hedged approximately 31% of its fuel requirements for the fourth quarter of 2023[182]. - The company has $3.9 billion of fixed-rate debt, with $113 million subject to floating interest rates[183]. - If interest rates were to increase by 100 basis points, the annual interest expense would rise by approximately $1 million[183]. Special Items and Non-GAAP Measures - Special items for the nine months ended September 30, 2023 included $104 million related to union contract costs and $64 million related to Spirit acquisition costs[138]. - Special items for the three and nine months ended September 30, 2023, included Spirit acquisition costs and union contract costs[172]. - The company believes that non-GAAP financial measures provide useful supplemental information for comparing results to others in the airline industry[169]. - The company is unable to provide a reconciliation of CASM ex-fuel guidance to GAAP CASM due to the unpredictability of certain excluded items[172].

2Q23 Earnings Presentation August 1, 2023 ...

JetBlue Airways Corporation (NASDAQ:JBLU) Q2 2023 Earnings Conference Call August 1, 2023 10:00 AM ET Company Participants Robin Hayes - Chief Executive Officer Joanna Geraghty - President and Chief Operating Officer Ursula Hurley - Chief Financial Officer Dave Clark - Head of Revenue and Planning Andres Barry - President of JetBlue Travel Products Conference Call Participants Mike Linenberg - Deutsche Bank Dan McKenzie - Seaport Global Savi Syth - Raymond James Jamie Baker - JP Morgan Andrew Didora - Bank ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to__________ Commission File Number: 000-49728 ietBlue® JETBLUE AIRWAYS CORPORATION (Exact name of registrant as specified in its charter) De ...

Financial Performance - First quarter 2023 revenue increased by 34.1% year-over-year to $2.3 billion, up $592 million from the same period in 2022[89] - The company reported a net loss of $192 million for Q1 2023, an improvement from a net loss of $255 million in Q1 2022[94] - Total operating revenues for the three months ended March 31, 2023, were $2,328 million, compared to $1,736 million for the same period in 2022, representing a year-over-year increase of 34.1%[144] - Operating loss for the three months ended March 31, 2023, was $(242) million, an improvement from $(367) million in the same period of 2022[144] - Free Cash Flow for the three months ended March 31, 2023, was $233 million, compared to $113 million for the same period in 2022, indicating a significant increase of 106.2%[147] - Basic loss per share for the three months ended March 31, 2023, was $(0.58), compared to $(0.79) for the same period in 2022[144] Revenue and Passenger Metrics - Revenue passengers increased by 24.6% year-over-year to 10,192 thousand[95] - Revenue passenger miles (RPMs) rose to 13,375 million, reflecting a 22.4% increase from 10,927 million in the prior year[110] - The load factor improved by 8.8 percentage points to 79.8% from 71.0% year-over-year[110] - Average fare increased by 9.2% year-over-year to $214.07[95] Operating Expenses - Operating expenses for Q1 2023 increased by 22.2% year-over-year to $2.57 billion[98] - Other operating expenses increased by $23 million, or 6.9%, for the three months ended March 31, 2023, primarily due to an 11.6% increase in departures[106] - Total operating expenses for the three months ended March 31, 2023, were $2,570 million, up from $2,103 million in the same period of 2022, reflecting a 22.2% increase[144] - CASM (Cost per Available Seat Mile) ex-fuel for the three months ended March 31, 2023, was 9.99 cents, compared to 9.87 cents for the same period in 2022[141] Fuel Costs - Aircraft fuel and related taxes rose by 34.1% year-over-year to $765 million, with average fuel price increasing by 20.8% to $3.50 per gallon[99] - The average fuel cost per gallon increased by 20.8% to $3.50 from $2.90 year-over-year[110] - The company has hedged 30.5% of its projected fuel requirement for Q2 2023, 30.1% for Q3 2023, and 20.0% for Q4 2023[150] - If fuel prices increase by 10%, the estimated additional aircraft fuel expense would be approximately $282 million over the next 12 months[150] Future Outlook - The company expects Q2 2023 revenue to increase between 4.5% to 8.5% compared to Q2 2022[92] - Full year 2023 capacity is expected to increase between 5.5% to 8.5% compared to 2022[92] - CASM Ex-Fuel for Q2 2023 is expected to increase between 1.5% to 3.5%[92] Debt and Financing - As of March 31, 2023, total debt and finance lease obligations amounted to $15.0 billion, with $2.3 billion due in 2023 and $3.0 billion due in 2024[127] - Working capital deficits increased by $80 million to $1.9 billion as of March 31, 2023, primarily due to an increase in air traffic liability[124] - The company anticipates using a mix of cash and debt financing for aircraft scheduled for delivery in 2023, with potential increases in fixed costs regardless of financing method[130] - The company expects to meet its pre-delivery deposit requirements for aircraft through cash payments or short-term borrowing facilities[128] Fleet and Aircraft Orders - The aircraft order book includes 146 total aircraft scheduled for delivery from 2023 to 2027, with 28 aircraft expected in 2023 and 43 in 2024[128] - The average age of the operating fleet as of March 31, 2023, was 12.5 years, consisting of 130 Airbus A320, 63 Airbus A321, 24 Airbus A321neo, 15 Airbus A220, and 58 Embraer E190 aircraft[127] - The fleet consists of 228 owned aircraft and 62 leased under operating leases, with no finance leases[127] Compliance and Risks - The company remains in compliance with the covenants of its debt and lease agreements as of March 31, 2023[127] - Forward-looking statements indicate potential risks including the impact of the COVID-19 pandemic, competitive industry pressures, and uncertainties related to the merger with Spirit Airlines[134] - The company has no off-balance sheet arrangements that would significantly impact its financial condition or cash flows[131]