Jetblue Airways Corporation · NASDAQ:JBLU

Jetblue Airways — 10th Annual Wolfe Research Global Transportation Conference 2017

9 slides from Jetblue Airways's conference presentation, May 23, 2017

  1. Slide 1: 10th Annual Wolfe Research Global Transportation Conference

    1 10TH ANNUAL WOLFE RESEARCH GLOBAL TRANSPORTATION CONFERENCE MAY 23, 2017

  2. 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, 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 amended, or the Exc

  3. Slide 3: Focused on Creating Shareholder Value Through Margin Initiatives and Accretive Growth

    3 FOCUSED ON CREATING SHAREHOLDER VALUE THROUGH MARGIN INITIATIVES AND ACCRETIVE GROWTH • Working towards goal of superior margins • Revenue initiatives • Structural cost initiatives • Cabin restyling & Fleet review • Targeted growth in 3 focus cities and Mint • Improved operational performance PRE-

  4. Slide 4: Unit Revenue: Actions Driving Sequential Improvement

    4 UNIT REVENUE: ACTIONS DRIVING SEQUENTIAL IMPROVEMENT • 2Q 2017 RASM now expected between 4-6% • April performed as expected • May/June expected positive • ¼ point benefit in 2Q from July 4th placement • 3Q outlook improved since April earnings call • Continue to target growth in focus cities and i

  5. Slide 5: Unit Costs: Managing Near Term Headwinds

    5 UNIT COSTS: MANAGING NEAR TERM HEADWINDS QUARTERLY CASM EX-FUEL YOY GROWTH* -1.4% -0.8% 2.5% 4.6% 3.3% 1Q 2016 2Q 2016 3Q 2016 4Q 2016 1Q 2017 2Q 2017E 2017E 4.5% - 6.5% 1.5% - 3.5% **Refer to Appendix A : Note on Non-GAAP Financial Measures Tech Ops Airports Corporate TOTAL Distribution STRUCTURA

  6. Slide 6: Leverage and Capex: Balanced Capital Allocation

    6 2Q 2017 2017E 2017-2020E LEVERAGE AND CAPEX: BALANCED CAPITAL ALLOCATION ADJUSTED DEBT / CAP RATIO CAPITAL EXPENDITURES Aircraft Non-Aircraft 70% 62% 46% 35% 34% 2011 2013 2015 2016 1Q 2017 Adj Debt / Cap = On Balance Sheet Debt + 7x Aircraft Rent / Debt + Equity $150m - $200m $1.05bn - $1.2bn $22

  7. Slide 7: 2017 Guidance Summary

    7 2017 GUIDANCE SUMMARY Metric 2Q 2017E 2017E Capacity 4.0 - 6.0% 5.5 - 7.5% RASM 4.0 – 6.0% N/A CASM Excluding Fuel 4.5 - 6.5% 1.5 - 3.5% Capex (aircraft) $220m – $270m $1.05bn – $1.2bn Capex (non-aircraft) $35m – $45m $150m – $200m Other Income/(Expense) ($20m - $25m) ($90m - $100m)

  8. Slide 8: Questions

    QUESTIONS

  9. Slide 9: Appendix A: Note on Non-GAAP Financial Measures

    9 APPENDIX A: NOTE ON NON-GAAP FINANCIAL MEASURES Consolidated operating cost per available seat mile, excludes fuel and related taxes, and operating expenses related to other non-airline expenses (CASM Ex-Fuel) is a non-GAAP financial measure that we use to measure our core performance. Note A with

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