JBLU's Q1 Loss Narrower Than Expected, Revenues Decline Y/Y

Core Viewpoint - JetBlue Airways Corporation (JBLU) reported a narrower loss in Q1 2025 compared to expectations, aided by lower fuel costs, but overall revenues fell short of estimates and declined year over year [1][2]. Financial Performance - JBLU's Q1 2025 loss was 59 cents per share, better than the Zacks Consensus Estimate of a loss of 61 cents, but worse than a loss of 43 cents per share in the same quarter last year [1]. - Operating revenues totaled $2.14 billion, missing the Zacks Consensus Estimate of$2.15 billion and down 3.1% year over year [2]. - Passenger revenues, which make up 92% of total revenues, decreased 3.1% year over year to $1.97 billion, slightly below the estimate of$2 billion [2]. - Other revenues increased by 10.9% year over year to $171 million, exceeding the estimate of$149 million [2]. Key Metrics - Revenue per available seat mile (RASM) rose 1.3% year over year to 13.71 cents, while passenger revenue per available seat mile increased by 0.2% to 12.62 cents [3]. - The average fare decreased by 0.8% year over year to $212.58, and yield per passenger mile fell by 1.1$2.3 billion, with salaries, wages, and benefits rising by 4.9% [5]. - Aircraft fuel expenses fell by 18.3% year over year, with the average fuel price per gallon at $2.57, down 13.5$400 million for Q2 and approximately $1.3 billion for the full year 2025 [7]. - The average fuel cost per gallon is expected to range between$2.25 and $2.40 [6]. - Due to macroeconomic uncertainty, JBLU has not reaffirmed its prior full-year guidance [7].