Key facts
- JetBlue Airways reported a larger second-quarter loss due to surging fuel costs.
- The airline's adjusted loss per share was 66 cents, worsening from a 21-cent loss a year ago.
- JetBlue's JetForward strategy is progressing, with a raised profitability target of up to $950 million by 2027.
- Operational improvements included higher on-time arrivals and increased Net Promoter Score.
- The airline anticipates revenue growth in 2026 as engine issues and disruptions ease.
JetBlue Airways reported a larger second-quarter loss, primarily driven by a significant surge in fuel costs, exacerbated by geopolitical tensions impacting oil supplies. The New York-based airline posted an adjusted loss of 66 cents per share, a wider deficit than the 21 cents loss recorded a year earlier. Under GAAP, the net loss was US$74 million (−US$0.21 per share), though this was better than analysts' expectations of around −US$0.33.
Despite the increased losses, JetBlue highlighted progress in its multi-year JetForward transformation plan, which generated US$90 million in incremental EBIT in the first half of 2025. The airline also anticipates US$50 million in additional EBIT from a new partnership with United Airlines, leading to a raised profitability target of US$850–950 million by 2027. Operational performance saw improvements, with on-time arrivals increasing and Net Promoter Score climbing.
Capacity was reduced by 1.5% in the second quarter, matching a similar decline in revenue per available seat mile (RASM). Costs per available seat mile excluding fuel (CASM ex-Fuel) rose 6.0%. JetBlue projects fewer than 10 aircraft on average will be grounded in 2025 due to engine issues, an improvement from previous estimates. The airline is also streamlining its fleet by divesting Embraer E190s and adjusting Airbus A321neo XLR orders.
For the third quarter, JetBlue forecasts RASM to decline by 2% to 6% and CASM ex-Fuel to rise by 5% to 7%. The company expects to restore revenue growth in 2026 as engine disruptions ease and demand recovers. In a separate report, JetBlue's first-quarter results showed a net loss of $319 million (86 cents per share), with operating revenue rising 4.7% to $2.24 billion, but overwhelmed by a 12.1% surge in total fuel expense.