Press release
JetBlue Announces Second Quarter 2024 Results
Exceeded second quarter guidance targets Introducing JetForward, the evolution of JetBlue's strategy to restore profitability Targeting $800M - $900M of
About this update from Jetblue Airways Corporation
[{"type":"text","content":"\nExceeded second quarter guidance targets\n\n\nIntroducing JetForward, the evolution of JetBlue's strategy to restore profitability\n\n\nTargeting $800M - $900M of incremental EBIT (1) in 2027\n\n\n NEW YORK--(BUSINESS WIRE)--\nJetBlue Airways Corporation (NASDAQ: JBLU) today reported its financial results for the second quarter of 2024.\n\n\n\"We closed the first half of 2024 with meaningful year-over-year improvements in our operation and exceeded our second quarter guidance through strong execution, early evidence the changes we are implementing as part of our refocused strategy are yielding positive benefits,\" said Joanna Geraghty, JetBlue's chief executive officer. \"Today, and as the year progresses, we are excited to share more details about JetForward, our strategic framework to return JetBlue to sustained profitability, and the four priority moves aimed at driving significant value over the coming years.\n\n\n\"These include boosting reliability and doubling down on our commitment to caring service to improve satisfaction and drive cost savings; reinvesting in building the best leisure network on the East Coast, where we are positioned to win; enhancing our existing product offerings and loyalty perks to better deliver the elevated and differentiated experiences our customers want; and keeping our costs low so that we can continue to offer customers exceptional value in the sky as we build a secure financial future for JetBlue.\"\n\n\n\"In the second quarter, we continued to implement our JetForward strategy with the announcement of more significant network changes. We are actively reinvesting in our core geographies in New York, New England, Florida and Puerto Rico, while exiting routes and BlueCities that don't meet our financial hurdle rate. As we progress through the second half of the year, we'll be announcing additional initiatives designed to further enhance our customer value proposition, close the gap in our product offering to our peers and drive significant financial benefit,\" said Marty St. George, JetBlue's president.\n\n\nFour Priority Moves Underpin $800M - $900M Targeted Incremental EBIT from 2025 - 2027\n\n\n\nReliable & Caring Service\n\n\nImproving on-time performance through multiple approaches including investments in tools and technology, designed to enable better planning and recovery.\n\n\n\nD...