JetBlue Airways Corporation · NASDAQ:JBLU
JetBlue Airways — Corporate Update (September 2024)
16 slides from JetBlue Airways's corporate update, September 2024
Slide 1: JetForward Strategy
Hello, I’m your cover JetForward Strategy option 2. September 2024 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: Acting With Urgency to Address Headwinds
JetForward | Financial Guidance 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 hamperi
Slide 4: Enhancing Our Strengths to Drive Our Path Forward
JetForward | Financial Guidance Enhancing Our Strengths to Drive Our Path Forward Highly Engaged High-Value Differentiated Low Cost Crewmembers Geography Product & Services Structure & Distinct Culture 4
Slide 5: JetForward | Financial Guidance
JetForward | Financial Guidance 655
Slide 6: JetForward: Our Path to Sustained Profitability
JetForward | Financial Guidance JetForward: Our Path to Sustained Profitability Targeting $800-900M (1) in incremental EBIT (2) from 2025 – 2027 ~$175M $800 - $900M ~$400M ~$175M ~$100M Four EBIT Uplift Priority 2025 - 2027 Moves Reliable & caring Best East Coast Products A secure service leisure ne
Slide 7: Priority Moves Anchor Our Path to Sustained Profitability
JetForward | Financial Guidance Priority Moves Anchor Our Path to Sustained Profitability Four Announced Implemented Illustrative upcoming announcements 2027 Priority Targets Moves Multi-year investment in improving on- time performance ~$100M Reliability Rightsized LGA & redeployed to Refocused LAX
Slide 8: Redeploying ~20% of Flying to Optimize East Coast Leisure Network
JetForward | Financial Guidance Best East Coast Leisure Network Redeploying ~20% of Flying to Optimize East Coast Leisure Network Illustrative Route Exits Los Angeles & Northeast to LGA & EWR Fort Lauderdale Intra-California Midcontinent Optimization Network actions expected to reduce unprofitable r
Slide 9: Journey to Optimize Controllable Costs Has Evolved Over Time
JetForward | Financial Guidance A Secure Financial Future Journey to Optimize Controllable Costs Has Evolved Over Time Targeted Savings Areas of focus Outcome Run-rate savings Structural Cost Program 1.0 $250M - $300M Business partner contracts and agreements were on-track to (2018 – 2020) Origina
Slide 10: Taking Active Steps to Improve Balance Sheet, while Mitigating Pratt & Whitney Impact
JetForward | Financial Guidance A Secure Financial Future Taking Active Steps to Improve Balance Sheet, while Mitigating Pratt & Whitney Impact to Growth Consideration Fleet Impact Impact Fleet Detail • Average of 11 aircraft on ground in 2024 due to geared turbofan (GTF) powdered metal and other en
Slide 11: ~$3.2B Financing Supports JetForward's Runway to Generate Benefits
JetForward | Financial Guidance A Secure Financial Future ~$3.2B Financing Supports JetFoward’s Runway to Generate Benefits In August 2024, JetBlue closed Proceeds planned to be used to fund capital expenditures in 2024 & 2025, repurchase a Terms offer flexibility to prepay if desired, while p
Slide 12: Outlook Summary
JetForward | Financial Guidance Outlook Summary Guidance Current 3Q 2024 Previous 3Q 2024 (1) Available Seat Miles (ASMs) Year-over-Year (5.0%) - (3.0%) (6.0%) - (3.0%) Revenue Year-over-Year (2.5%) - 1.0% (5.5%) - (1.5%) CASM ex-Fuel(2), (3) Year-over-Year 5.0% - 7.0% 6.0% - 8.0% Fuel Price per Gal
Slide 13: 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 condensed consolidated financial statements, but
Slide 14: 15 BlueCity Closures Planned Through End of Year 2024
JetForward | Financial Guidance Best East Coast Leisure Network 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, 20
Slide 15: Over 50 Route Exits Planned Through January 2025
JetForward | Financial Guidance Best East Coast Leisure Network Over 50 Route Exits Planned Through January 2025 50+ Route Exits 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 New
Slide 16: jetBlue
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