Jetblue Airways Corporation · NASDAQ:JBLU
Jetblue Airways — Q1 2025 Earnings Presentation
19 slides from Jetblue Airways's earnings presentation, Apr 29, 2025
Slide 1: 1Q25 Earnings Presentation
1Q25 Earnings Presentation April 29, 2025 Our new BlueUnity livery celebrates each of our crewmembers and the teamwork that makes every flight possible. 1
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: 1Q25 Recap and Near-term Priorities
1Q25 Recap and Near-term Priorities Joanna Geraghty Chief Executive Officer 33
Slide 4: Executing JetForward and Reinforcing Financial Foundation Amidst Near-Term Macro Uncertainty
1Q25 Delivered year-over-year (YoY) performance within initial (1) guidance ranges • Capacity of (4.3%) at low end of range, resulting from self-help actions to reduce Executing trough capacity in March and better align supply with demand JetForward and • RASM of 1.3% reflecting softer off-peak reve
Slide 5: JetForward: Our Path to Sustained Profitability
JetForward: Our Path to Sustained Profitability 1Q25 Update Targeting $800-900M (1) in incremental EBIT (2) through 2027 ✓ Planning for comprehensive biannual Unrealized JetForward update during Realized as of January 28, 2025 2Q25 earnings call ~$175M $800 - $900M ~$400M ✓ Multi-year plan on track
Slide 6: Commercial Update and Outlook
Commercial Update and Outlook Marty St. George President 6
Slide 7: Acting Urgently to Address Industry-Wide Demand Softness in Off-Peak
Acting Urgently to Address Industry-Wide Demand Softness in Off-Peak 1Q2025 vs. 1Q2024 1Q25 Results In-line with Initial Expectations • Booking strength exiting 4Q and seen in January steadily deteriorated throughout 1Q 1 2 1.3% • Relatively healthy peak demand, but close-in, shoulder & trough flyin
Slide 8: Financial Update and Outlook
Financial Update and Outlook Ursula Hurley Chief Financial Officer 8
Slide 9: Strong Liquidity Ensures Runway for JetForward
Strong Liquidity with Balance Sheet Flexibility • Ended 1Q with $3.8B (1) liquidity, bolstered by a strategic debt raise in 2024 • 2025 capex commitments of ~$1.3B supporting 21 new deliveries this year will further enhance unencumbered asset base • No significant upcoming maturities over the next t
Slide 10: Controlling What We Can to Drive Cost Savings
Controlling What We Can to Drive Cost Savings Met Initial 1Q CASM-ex Guidance Despite Close-in Capacity Pulls CASM ex-Fuel (1),(2) YoY Growth • 1pt of pressure from in-quarter capacity reductions offset by 1pt of cost savings from strong operational execution and 0.5pts of maintenance timing • First
Slide 11: Progressing JetForward While Managing Near-Term Uncertainty
Progressing JetForward While Managing Near-Term Uncertainty Progressing Actively Managing Resilient JetForward Uncertainty Positioning Continuing momentum from Moving quickly to adjust Experienced leadership team strong start in 2024 capacity, reduce costs and stay nimble Healthy liquidity, manageab
Slide 12: Outlook Summary
Outlook Summary Guidance Estimated 2Q 2025 Estimated FY 2025 ASMs Year-over-Year (3.5%) – (0.5%) RASM Year-over-Year (7.5%) – (3.5%) Not Reaffirming CASM ex-Fuel (1),(2) Year-over-Year 6.5% – 8.5% Fuel Price per Gallon (3) $2.25 – $2.40 Interest Expense – ~$600 million (4) Capital Expenditures ~$400
Slide 13: Appendix
jetBlue Appendix 13
Slide 14: 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 15: CASM Ex-Fuel
Operating expense per available seat mile, excluding fuel, other non-airline operating expenses, and special items (“CASM Ex- Fuel”) Operating Expense per Available Seat Mile (“CASM”) is a common metric used in the airline industry. Our CASM for the relevant periods are summarized in the table below
Slide 16: Reconciliation of operating expense, operating loss, margins, net loss and loss per share
NON-GAAP FINANCIAL MEASURE Operating expense, operating loss, RECONCILIATION OF OPERATING EXPENSE, OPERATING LOSS, OPERATING MARGIN, PRE-TAX LOSS, PRE-TAX MARGIN, NET LOSS, LOSS PER SHARE, EXCLUDING SPECIAL ITEMS, AND GAIN (LOSS) ON INVESTMENTS operating margin, pre-tax loss, pre-tax (unaudited) mar
Slide 17: Reconciliation (continued): loss per share calculation
Operating expense, operating loss, NON-GAAP FINANCIAL MEASURE operating margin, pre-tax loss, pre-tax margin, net loss and loss per share, RECONCILIATION OF OPERATING EXPENSE, OPERATING LOSS, OPERATING MARGIN, PRE-TAX LOSS, PRE-TAX MARGIN, NET excluding special items and gain (loss) LOSS, LOSS PER S
Slide 18: Appendix B: Order Book
Appendix B: Order Book JetBlue’s aircraft deliveries for full year as of March 31, 2025: Aircraft Deliveries(1) A220 A321neo Total (2) 2025 (3) 18 3 21 2026 16 1 17 2027 8 - 8 2028 9 - 9 2029 7 - 7 Thereafter - 44 44 (1) Our committed future aircraft deliveries are subject to change based on modific
Slide 19: jetBlue
jetBlue