Jetblue Airways Corporation · NASDAQ:JBLU
Jetblue Airways — Investor Presentation (September 2024)
16 slides from Jetblue Airways's investor presentation, Sep 5, 2024
Slide 1: JetForward Strategy
1 Hello, I’m your cover option 2.September 2024 JetForward St ategy
Slide 2: Safe Harbor
2 Safe Harbor This Presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of
Slide 3: Embarking on business and structural cost transformation
3 Embarking on business and structural cost transformation • Rapid cost inflation driven by labor, maintenance, and fuel Costs Addressing product gaps and better merchandising existing offerings • Value carrier revenue growth has not matched pace of inflation Revenue Re-investing in core geographies
Slide 4: Enhancing Our Strengths to Drive Our Path Forward
4 Enhancing Our Strengths to Drive Our Path Forward Low Cost Structure Highly Engaged Crewmembers & Distinct Culture High-Value Geography Differentiated Product & Services JetForward | Financial Guidance
Slide 5: JetForward
56 JetForward | Financial Guidance
Slide 6: JetForward: Our Path to Sustained Profitability
6 JetForward: Our Path to Sustained Profitability Targeting $800-900M (1) in incremental EBIT (2) from 2025 – 2027 ~$175M ~$400M ~$100M ~$175M Reliable & caring service drives choice, satisfaction and cost savings Best East Coast leisure network where our value proposition is positioned to win Produ
Slide 7: Priority Moves Anchor Our Path to Sustained Profitability
7 Priority Moves Anchor Our Path to Sustained Profitability Product Reliability Financial Future Introduced preferred seating Enhancing Blue Basic with free carry-on bag Goes live Sept. 6th Added new loyalty partners Four Priority Moves ~$175M ~$400M ~$100M 2027 Targets Smoothed aircraft delivery st
Slide 8: Redeploying ~20% of Flying to Optimize East Coast Leisure Network
8 Redeploying ~20% of Flying to Optimize East Coast Leisure Network JetForward | Financial Guidance Best East Coast Leisure Network Note: Not exhaustive. Fort Lauderdale Los Angeles & Intra-California Network actions expected to reduce unprofitable routes while redeploying aircraft to bolster East C
Slide 9: Journey to Optimize Controllable Costs Has Evolved Over Time
9 Areas of focus Journey to Optimize Controllable Costs Has Evolved Over Time Targeted Savings Business & Cost Transformation Program (2025 – 2027) Structural Cost Program 1.0 (2018 – 2020) Structural Cost Program 2.0 (2022 – 2024) $250M - $300M Original Target $150M - $200M Original Target Busine
Slide 10: Taking Active Steps to Improve Balance Sheet, while Mitigating Pratt & Whitney Impact
10 Taking Active Steps to Improve Balance Sheet, while Mitigating Pratt & Whitney Impact to Growth Pratt & Whitney A320 Extensions E190 Retirements A220 Deliveries Consideration Fleet Impact • Average of 11 aircraft on ground in 2024 due to geared turbofan (GTF) powdered metal and other engine avail
Slide 11: ~$3.2B Financing Supports JetForward's Runway to Generate Benefits
11 Senior Secured Notes ~$3.2B Financing Supports JetFoward’s Runway to Generate Benefits JetForward | Financial Guidance A Secure Financial Future In August 2024, JetBlue closed three financing transactions, with gross proceeds totaling ~$3.2B Proceeds planned to be used to fund capital expenditu
Slide 12: Guidance
12 (1) Previous third quarter guidance as of July 30, 2024. Third quarter 2024 interest expense was not previously guided. (2) See Appendix A for further details on Non-GAAP measures. (3) Includes the impact from labor agreements of approximately two points for the third quarter. (4) Fuel price base
Slide 13: Non-GAAP Financial Measures
13 Non-GAAP Financial Measures We report our financial results in accordance with GAAP; however, we present certain non-GAAP financial measures in this Presentation. Non-GAAP financial measures are financial measures that are derived from the condensed consolidated financial statements, but that are
Slide 14: BlueCity Closures Planned Through End of Year 2024
14 15 BlueCity Closures Planned Through End of Year 2024 Announced BlueCity Closures BlueCity Exit Date (1) Burlington (BTV) January 4, 2024 Baltimore-Washington (BWI) April 30, 2024 Kansas City (MCI) June 12, 2024 Bogota (BOG) June 12, 2024 Lima (LIM) June 12, 2024 Quito (UIO) June 12, 2024 Puerto
Slide 15: 50+ Route Exits Planned Through January 2025
15 Over 50 Route Exits Planned Through January 2025 50+ Route Exits Route Exits Route Exit Date (1) Los Angeles / Cancun – (LAX / CUN) 3-Jan-24 Newark / Miami – (EWR / MIA) 3-Jan-24 New York LaGuardia / Charleston – (LGA / CHS) 3-Jan-24 New York LaGuardia / Nashville – (LGA / BNA) 3-Jan-24 New York
Slide 16: jetBlue
jetBlue
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