Achieved $305 million incremental EBIT in 2025 from JetForward transformation, surpassing expectations and driving operational improvements, with continued progress toward profitability and improved operational reliability for the second consecutive year.
Net Promoter Score rose 8 points in 2025 and 17 points since early 2024, reflecting enhanced customer satisfaction and loyalty.
Launched Blue Sky partnership with United Airlines, expanded co-brand card portfolio, and opened first lounge at JFK, with Boston lounge to follow in 2026.
Regained largest carrier status in Fort Lauderdale, with new routes, record revenue in December, and up to 26 daily Mint flights.
Maintained cost discipline and advanced premium product offerings despite macroeconomic headwinds and industry disruptions.
2025 total operating revenue was $9.06 billion, down from $9.28 billion in 2024; Q4 revenue was $2.2 billion, down 1.5% year-over-year.
2025 operating loss was $(368) million, improved from $(684) million in 2024; adjusted operating loss $(338) million.
2025 net loss was $(602) million ($1.66/share), improved from $(795) million in 2024; adjusted net loss $(593) million.
Adjusted operating margin for 2025 was -3.7%; Q4 operating margin was -4.5%.
Ended 2025 with $2.5 billion liquidity (~27% of trailing twelve-month revenue), excluding a $600 million undrawn revolver.
2026 guidance targets 2.5%-4.5% capacity (ASMs) growth, 2%-5% unit revenue (RASM) growth, and 1%-3% non-fuel unit cost (CASM ex-fuel) growth, aiming for breakeven or better adjusted operating margin.
JetForward expected to deliver $310 million incremental EBIT in 2026, totaling $615 million since inception and targeting $850-$950 million by 2027.
2026 fuel price per gallon guidance is $2.17-$2.37.
CapEx for 2026 projected at $900 million, with 14 aircraft deliveries and start of first-class retrofits.
Path to positive free cash flow by end of 2027, with $850M-$950M incremental EBIT targeted for FY 2027.
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JetBlue Airways Corporation, written and stylized as jetBlue, is an American low-cost commercial airline company with domestic and international flight routes. The company operates over 1,000 flights daily and has roughly 100 destinations spread out across the Americas and Europe. The company is headquartered in NYC but also has regional offices in Utah and Florida. JetBlue’s shares are traded on the Nasdaq.
JetBlue Airways was founded as NewAir in 1998 by David Neeleman, aiming to bring innovation and competition to the US airline industry. The airline commenced operations in 2000, differentiating itself with amenities like in-flight entertainment in every seat and no overbooking policy. Strategically choosing John F. Kennedy International Airport (JFK) as its primary hub, JetBlue began with routes connecting JFK to Florida and California. Over the next decade, the airline saw consistent growth, expanding its route network across the U.S., the Caribbean, and South America. In a similar manner to how Southwest operates, the company aimed to compete with large carriers like American Airlines and Delta by offering cheaper flights to popular destinations.
JetBlue Airways operates a diverse network of flights, spanning both domestic and international markets. Within the U.S., the airline connects major metropolitan areas, regional hubs, and smaller cities. Expanding beyond its domestic routes, JetBlue has established services to destinations in the Caribbean, Central and South America, and certain European locations.
JetBlue Airways adopts a hybrid business model that merges elements from both traditional network carriers and low-cost carriers. Central to its strategy is the emphasis on providing competitive fares while offering several value-added services, including in-flight entertainment and more generous legroom in coach relative to some rivals. Looking to expand its reach, the airline has engaged in partnerships and code-sharing agreements with multiple international carriers.
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