Jetblue Airways Corporation · NASDAQ:JBLU
Jetblue Airways — Investor Presentation (March 2025)
19 slides from Jetblue Airways's investor presentation, Mar 11, 2025
Slide 1: JetForward Strategy
1 Hello, I’m your cover option 2.March 11, 2025 JetForward St ategy 1
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: Demonstrable margin expansion
36 Demonstrable margin expansion (1) Adjusted Operating Margin. (2) Guidance as of January 28, 2025. See Appendix A for further details on Non-GAAP measures. Implied FY24 Op. Margin (1) when JetForward was announced: (4.5%) FY24 Adjusted Operating Margin (1.0%) FY25 Adjusted Operating Margin Guidanc
Slide 4: JetForward achievements and 2025 initiative forecast
4 ✓ Achieved highest NPS in industry, up ~ten points YoY ✓ Three place improvement in WSJ ranking ✓ Redeployed underperforming capacity representing 20% of our network ✓ Updates to BlueBasic & introduction of preferred seating delivered faster than expectations ✓ Raised $3B+ of strategic financing ✓
Slide 5: Our Onboard Product Is Evolving to Better Serve Leisure Customers
5 Our Onboard Product Is Evolving to Better Serve the Full Spectrum of Leisure Customers Illustrative Non-Mint Aircraft Onboard Product Evolution Even More Core / Blue Basic Domestic First Optimizing Cabin Space to Deliver the Experiences Our Customers Want Introducing domestic first class, adding 2
Slide 6: Areas of focus in 2025: Cost Transformation Program
Areas of focus Areas of focus in 2025 Cost Transformation Program Enabled by Data and Technology Targeted Savings Business & Cost Transformation Program (2025 – 2027) ~$175M Preliminary Target Outcome Goal of sustaining our competitive cost advantage vs. other airlines A Secure Financial Future Laun
Slide 7: Demonstrable margin expansion
76 Demonstrable margin expansion (1) Adjusted Operating Margin. (2) Guidance as of January 28, 2025. See Appendix A for further details on Non-GAAP measures. Implied FY24 Op. Margin (1) when JetForward was announced: (4.5%) FY24 Adjusted Operating Margin (1.0%) FY25 Adjusted Operating Margin Guidanc
Slide 8: Appendix
The JetBlue Way Forward | Our Strategic Evolution | Returning to Historical Earnings Power Appendix 8
Slide 9: Non-GAAP Financial Measures
9 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 consolidated financial statements, but that are not presen
Slide 10: Operating expense, operating loss and operating margin
10 Operating expense, operating loss and operating margin Our GAAP results in the applicable periods were impacted by credits and charges that were deemed special items. Special items for 2024 include Spirit-related costs, union contract costs, voluntary opt-out costs, Embraer E190 fleet transition
Slide 11: Embarking on business and structural cost transformation
11 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 geographie
Slide 12: Enhancing Our Strengths to Drive Our Path Forward
12 Enhancing Our Strengths to Drive Our Path Forward Low Cost Structure Highly Engaged Crewmembers & Distinct Culture High-Value Geography Differentiated Product & Services
Slide 13: Announced Majority of JetForward Initiatives in 2024, Turning to Execution in 2025
1 3 Announced Majority of JetForward Initiatives in 2024, Turning to Execution in 2025 Product Reliability Financial Future Introduced preferred seating Enhancing Blue Basic with free carry-on bag Added new loyalty partners Four Priority Moves ~$175M ~$400M ~$100M 2027 Targets Smoothed aircraft deli
Slide 14: Network Detail – Focused on Optimizing Network for Profitability
14 Network Detail – Focused on Optimizing Network for Profitability Best East Coast Leisure Network Note: Illustrative. Fort Lauderdale Los Angeles & Intra-California Northeast to Midcontinent LGA & EWR Optimization 2024 Route Exits
Slide 15: Network Detail – Executed Route Exits in 2024 and January 2025
15 Network Detail – Executed Route Exits in 2024 and 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-Ja
Slide 16: Network Detail – Executed BlueCity Closures
16 Network Detail – Executed BlueCity Closures 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 Vallarta (PVR) June
Slide 17: Network Detail – Building the Best East Coast Leisure Network
17 Network Detail – Building the Best East Coast Leisure Network Best East Coast Leisure Network (1) Seasonal transatlantic routes and frequency reductions include BOS→ DUB, EDI, AMS, & LGW and JFK → DUB & EDI. Note: Illustrative. Additional Frequencies New Route Entrances Seasonalizing Mint Fleet R
Slide 18: Taking Active Steps to Improve Balance Sheet, while Mitigating Pratt & Whitney Impact
18 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 • Expect grounded aircraft, on average, to be in the mid-to-high teens in 2025 • Drove ~2.5 pts direct impact
Slide 19: jetBlue
jetBlue