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
Hello, I’m your cover JetForward Strategy option 2. March 11, 2025 11
Slide 2: Safe Harbor
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 t
Slide 3: Demonstrable margin expansion
Demonstrable margin expansion Implied FY24 Op. Margin (1) when JetForward was (4.5%) announced: FY24 Adjusted Operating Margin (1.0%) FY25 Adjusted Operating 0.0% - Margin Guidance (2): 1.0% ~5pts of margin improvement from announcement expected through YE 2025 (1) Adjusted Operating Margin. 63 3 (2
Slide 4: Early Progress on JetForward in 2024; Focused on Execution in 2025
Early Progress on JetForward in 2024; Focused on Execution in 2025 JetForward - Targeting $800-900M (1) in incremental EBIT (2) through 2027 ~$175M $800 - $900M Unrealized ~$400M 2025 Forecast 2024 Realized ~$175M ~$100M ~$200M ~$90M EBIT Uplift Through 2027 Reliable & caring Best East Coast leisure
Slide 5: Our Onboard Product Is Evolving to Better Serve Leisure Customers
Products and Perks Customers Value Our Onboard Product Is Evolving to Better Serve the Full Spectrum of Leisure Customers Illustrative Non-Mint Aircraft Onboard Product Evolution Future Domestic Even Core / Blue Basic State First More Current Even ✓Implemented State More Core / Blue Basic Optimizing
Slide 6: Cost Transformation Program Enabled by Data and Technology
A Secure Financial Future Cost Transformation Program Enabled by Data and Technology Targeted Savings Areas of focus Outcome Business & Cost Transformation ✓ Data-science driven optimization Goal of sustaining ~$175M Program Preliminary Target ✓ Enterprise efficiency and automation cost our competit
Slide 7: Demonstrable margin expansion
Demonstrable margin expansion Implied FY24 Op. Margin (1) when JetForward was (4.5%) announced: FY24 Adjusted Operating Margin (1.0%) FY25 Adjusted Operating 0.0% - Margin Guidance (2): 1.0% ~5pts of margin improvement from announcement expected through YE 2025 (1) Adjusted Operating Margin. 67 7 (2
Slide 8: Appendix
The JetBlue Way Forward | Our Strategic Evolution | Returning to Historical Earnings Power Appendix 8
Slide 9: Appendix A: Non-GAAP Financial Measures
Appendix A 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 n
Slide 10: Operating expense, operating loss and operating margin
Non-GAAP Financial Measure Operating expense, operating RECONCILIATION OF OPERATING EXPENSE, OPERATING LOSS AND OPERATING MARGIN loss and operating margin (unaudited, in millions) Twelve Months Ended Our GAAP results in the applicable periods were December 31, impacted by credits and charges that we
Slide 11: Acting With Urgency to Address Headwinds
Acting With Urgency to Address Headwinds Core Strategic Headwinds Solutions Fleet • Grounded aircraft due to Pratt & Whitney (P&W) Pursuing “capital light” levers for growth impeding growth and exacerbating unit cost inflation Balance • Pressured profitability hampering multi-year free Deferred ~$3B
Slide 12: Enhancing Our Strengths to Drive Our Path Forward
Enhancing Our Strengths to Drive Our Path Forward Highly Engaged High-Value Differentiated Low Cost Crewmembers Geography Product & Services Structure & Distinct Culture 12
Slide 13: Announced Majority of JetForward Initiatives in 2024, Turning to Execution in 2025
Announced Majority of JetForward Initiatives in 2024, Turning to Execution in 2025 Four Announced Implemented Illustrative upcoming announcements 2027 Priority Targets Moves Multi-year investment in improving on- time performance ~$100M Reliability Additional TATL Rightsized LGA & redeployed to Refo
Slide 14: Network Detail – Focused on Optimizing Network for Profitability
Best East Coast Leisure Network Network Detail – Focused on Optimizing Network for Profitability 2024 Route Exits Los Angeles & Northeast to LGA & EWR Fort Lauderdale Intra-California Midcontinent Optimization Note: Illustrative. 14
Slide 15: Network Detail – Executed Route Exits in 2024 and January 2025
Best East Coast Leisure Network Network Detail – Executed Route Exits in 2024 and January 2025 Route Exits Route Exits Cont. Route Exit Date (1) Route Exit Date (1) Los Angeles / Cancun – (LAX / CUN) 3-Jan-24 Los Angeles / Puerto Vallarta – (LAX / PVR) 12-Jun-24 Newark / Miami – (EWR / MIA) 3-Jan-24
Slide 16: Network Detail – Executed BlueCity Closures
Best East Coast Leisure Network 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, 202
Slide 17: Network Detail – Building the Best East Coast Leisure Network
Best East Coast Leisure Network Network Detail – Building the Best East Coast Leisure Network 2024 Route Entries and Additional Frequencies New Route Entrances Additional Frequencies Seasonalizing Mint Fleet EDI DUB LGW AMS CDG Redeploying TATL aircraft in Winter (1) (1) Seasonal transatlantic route
Slide 18: Taking Active Steps to Improve Balance Sheet, while Mitigating Pratt & Whitney Impact
A Secure Financial Future Taking Active Steps to Improve Balance Sheet, while Mitigating Pratt & Whitney Impact to Growth Consideration Fleet Impact Impact Fleet Detail • Expect grounded aircraft, on average, to be in the mid-to-high teens in 2025 JetBlue’s contractual aircraft delivery assumption f
Slide 19: jetBlue
jetBlue