Jetblue Airways Corporation · NASDAQ:JBLU
Jetblue Airways — J.P. Morgan Industrials Conference 2020
12 slides from Jetblue Airways's conference presentation, Mar 9, 2020
Slide 1: J.P. Morgan Industrials Conference March 10, 2020
J.P. MORGAN INDUSTRIALS CONFERENCE MARCH 10, 2020 1
Slide 2: Safe Harbor
SAFE HARBOR Statements in this presentation (or otherwise made by JetBlue or on JetBlue’s behalf) contain various forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as
Slide 3: Update & Outlook - Robin Hayes, Chief Executive Officer
UPDATE & OUTLOOK ROBIN HAYES CHIEF EXECUTIVE OFFICER 3
Slide 4: COVID-19 Adding Significant Uncertainty to 1Q, 2020 Outlook
COVID-19 ADDING SIGNIFICANT UNCERTAINTY TO 1Q, 2020 OUTLOOK 1Q 2020 UPDATE 2020 UPDATE • Solid 1Q trends through mid/late-February • $2.50 - $3.00 EPS guide excludes COVID-19 Impact − Mild winter in northeast was driving higher than expected − Given the nature of and significant uncertainty surround
Slide 5: Our Solid Balance Sheet Protects Our Business
OUR SOLID BALANCE SHEET PROTECTS OUR BUSINESS BALANCE SHEET AND LIQUIDITY ACTIONS • Maintain Strong Balance Sheet • Crewmember / Customer − ~$1.2 billion in unrestricted cash, cash equivalents and − Led industry in allowing customers to book with short term investments(a), or ~15% of 2019 revenue co
Slide 6: Our Balance Sheet Is Better Positioned Than Ever Before
OUR BALANCE SHEET IS BETTER POSITIONED THAN EVER BEFORE ADJ. DEBT/ CAP *; DEBT REPAYMENT HISTORICAL RATINGS 60% 800 1 TARGET RANGE= 55% 30 - 40% Year Fitch S&P Moody's 700 50% Current Outlook Stable Stable Stable 46%1 600 2020 BB+ 40% 2019 BB 35%1 500 34% 2018 BB BB 1 29%¹ 30% 28%28% 28%¹ 400 2017 B
Slide 7: Building Blocks Progressing Well Despite Near Term Uncertainty
BUILDING BLOCKS PROGRESSING WELL DESPITE NEAR TERM UNCERTAINTY* NETWORK PRODUCT FLEET COST CAPITAL OFFERING ALLOCATION $800M ~$50M ~$250M ~3% Increase ~$120M Authorized Incremental Incremental in Fuel Savings Share Revenue Revenue Efficiency Repurchases Focused Customer A320 Structural Cost Capital
Slide 8: Delivering Medium Term Goals as We Work Towards 2021 and Beyond
DELIVERING MEDIUM TERM GOALS AS WE WORK TOWARDS 2021 AND BEYOND 2014 2016 2018 2020 BEYOND Achieved Above Industry Average Margins AboveExecuting Industry BuildingAverage Blocks Margins Continuing Work Towards 2021 and Beyond NETWORK PRODUCT FLEET • Continue building Focus Cities • A220 /A321 LR/XLR
Slide 9: Appendix A: Calculation of Leverage Ratios - Historical
APPENDIX A: CALCULATION OF LEVERAGE RATIOS - HISTORICAL NON-GAAP FINANCIAL MEASURE ADJUSTED DEBT TO CAPITALIZATION RATIO (in millions) (unaudited)(1) LOCATION December 31, 2017 December 31, 2016 December 31, 2015 December 31, 2014 Long-term debt and capital leases $ 1,003 $ 1,195 $ 1,395 $ 1,968 Sho
Slide 10: Appendix B: Calculation of Leverage Ratios
APPENDIX B: CALCULATION OF LEVERAGE RATIOS Adjusted Debt to Capitalization Ratio Adjusted debt to capitalization ratio is a non-GAAP financial metric which we believe is helpful to investors in assessing the company's overall debt profile. Adjusted debt includes aircraft operating lease liabilities,
Slide 11: Appendix C: Calculation of Leverage Ratios
APPENDIX C: CALCULATION OF LEVERAGE RATIOS Adjusted Net Debt to Earnings Before Interest, Taxes, Depreciation, Amortization and Rent ("EBITDAR") Ratio Adjusted net debt to earnings before interest, taxes, depreciation, amortization and rent ratio, or EBITDAR, is a non-GAAP financial metric which we
Slide 12: Thank you.
Thank you. jou 1()28)
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