Jetblue Airways Corp 8-K, filed Feb 15, 2022
Jetblue Airways Corp (JBLU)
8-K
2022-02-15
For: 2022-02-15
View Original
Added on
April 11, 2026
About this 8-K
Jetblue Airways Corp filed this 8-K on February 15, 2022.
Items reported
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): February 15, 2022 (February 13, 2022)
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | |||||||||
| (Address of principal executive offices) | (Zip Code) | ||||||||||
(718 ) 286-7900
(Registrant’s telephone number, including area code)
N/A
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01 Regulation FD Disclosure.
On February 13, 2022, JetBlue Airways Corporation ("JetBlue") exercised its option to purchase 30 additional A220-300 aircraft under its existing agreement with Airbus Canada Limited Partnership. The 30 additional A220-300 aircraft are expected to be delivered from 2022 to 2026, as further detailed in the table below. With these exercised options, JetBlue’s A220-300 aircraft order now stands at 100 aircraft with options to purchase 20 additional A220-300 aircraft remaining.
| 2022 | 2023 | 2024 | 2025 | 2026 | |||||||||||||
| Previous A220 delivery schedule | 9 | 18 | 22 | 12 | 1 | ||||||||||||
| Incremental A220 deliveries | 1 | 3 | 5 | 8 | 13 | ||||||||||||
| Revised A220 delivery schedule | 10 | 21 | 27 | 20 | 14 | ||||||||||||
On February 15, 2022 we issued a press release announcing the fleet update. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit Number | Description | |||||||
| 99.1** | ||||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
| ** | Furnished herewith | |||||||
Forward Looking Statements
Statements in this Current Report on Form 8-K contain various forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, which represent our management’s beliefs and assumptions concerning future events. These statements are intended to qualify for the “safe harbor” from liability established by the Private Securities Litigation Reform Act of 1995. When used in this document and in documents incorporated herein by reference, the words “expects,” “plans,” “anticipates,” “indicates,” “believes,” “forecast,” “guidance,” “outlook,” “may,” “will,” “should,” “seeks,” “targets” and similar expressions are intended to identify forward-looking statements. Forward-looking statements involve risks, uncertainties and assumptions, and are based on information currently available to us. Actual results may differ materially from those expressed in the forward-looking statements due to many factors, including, without limitation, the coronavirus (“COVID-19”) pandemic including new and existing variants, and the outbreak of any other disease or similar public health threat that affects travel demand or behavior; restrictions on our business related to the financing we accepted under various federal government support programs such as the Coronavirus Aid, Relief, and Economic Security Act, the Consolidated Appropriations Act, and the American Rescue Plan Act; our significant fixed obligations and substantial indebtedness; risk associated with execution of our strategic operating plans in the near-term and long-term; the recording of a material impairment loss of tangible or intangible assets; our extremely competitive industry; volatility in financial and credit markets which could affect our ability to obtain debt and/or lease financing or to raise funds through debt or equity issuances; volatility in fuel prices, maintenance costs and interest rates; our reliance on high daily aircraft utilization; our ability to implement our growth strategy; our ability to attract and retain qualified personnel and maintain our culture as we grow; our reliance on a limited number of suppliers, including for aircraft, aircraft engines and parts and vulnerability to delays by those suppliers; our dependence on the New York and Boston metropolitan markets and the effect of increased congestion in these markets; our reliance on automated systems and technology; the outcome of the lawsuit filed by the Department of Justice and certain state Attorneys General against us related to our Northeast Alliance entered into with American Airlines, our being subject to potential unionization, work stoppages, slowdowns or increased labor costs; our presence in some international emerging markets that may experience political or economic instability or may subject us to legal risk; reputational and business risk from information security breaches or cyber-attacks; changes in or additional domestic or foreign government regulation, including new or increased tariffs; changes in our industry due to other airlines' financial condition; acts of war or terrorism; global economic conditions or an economic downturn leading to a continuing or accelerated decrease in demand for air travel; adverse weather conditions or natural disasters; and external geopolitical events and conditions. It is routine for our internal projections and expectations to change as the year or each quarter in the year progresses, and therefore it should be clearly understood that the internal projections, beliefs, and assumptions upon which we base our expectations may change prior to the end of each quarter or year.
Given the risks and uncertainties surrounding forward-looking statements, you should not place undue reliance on these statements. Further information concerning these and other factors is contained in the Company's Securities and Exchange Commission (“SEC”) filings, including but not limited to, the Company's 2020 Annual Report on Form 10-K and other reports we file with or furnish to the SEC. Our forward-looking statements speak only as of the date of this Current Report on Form 8-K. Other than as required by law, we undertake no obligation to update or revise forward-looking statements, whether as a result of new information, future events, or otherwise.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| JETBLUE AIRWAYS CORPORATION | |||||||||||||||||
| (Registrant) | |||||||||||||||||
| Date: | February 15, 2022 | By: | /s/ Alexander Chatkewitz | ||||||||||||||
| Vice President, Controller, and Chief Accounting Officer (Principal Accounting Officer) | |||||||||||||||||
PRESS RELEASE 
JetBlue Adds 30 Airbus A220s to Order Book, Further Enhancing the Financial and Operational Performance of Its Next Generation Fleet
JetBlue Converts 30 Aircraft Options to Firm Order, Accelerating E190 Retirement
NEW YORK (February 15, 2022) – JetBlue (NASDAQ: JBLU) today announced an agreement to exercise its option to add 30 additional Airbus A220-300 aircraft to its order book, bringing the total number of A220s in the airline’s fleet and on order to 100. The aircraft’s strong economics and operational performance are a key to JetBlue’s long-term cost performance, while also enabling more sustainable flying, greater flexibility to support JetBlue’s network strategy, and the introduction of its all-new onboard experience to more customers.
“We’re already seeing benefits from the eight A220s we’ve added to the fleet, and we’re very happy to have more on the way,” said Robin Hayes, chief executive officer, JetBlue. “We’ve seen double-digit increases in customer satisfaction scores, and these fuel-efficient aircraft support our leadership in reducing carbon emissions. With 30 additional A220s on order, we’re in a position to accelerate our fleet modernization plans to deliver stronger cost performance and support our focus city network strategy.”
“It is very rewarding to see a happy customer coming back for more aircraft not even a year after entry into service of its first A220. We salute our friends at JetBlue on this landmark deal,” said Christian Scherer, Airbus Chief Commercial Officer and Head of Airbus International. “Over 700 A220 orders to date underscore the strong market appetite for this all-new single aisle aircraft.”
In 2018, JetBlue announced its initial order of 60 A220s and the option for 60 additional aircraft. JetBlue converted 10 of 60 options to firm orders in 2019, and the 30 A220s announced today will enable acceleration of the retirement of JetBlue’s Embraer E190 fleet.
Exceptional Fuel Efficiency & Economics
The A220 offers nearly 30 percent lower direct operating costs per seat compared to the fleet it is replacing, supporting the airline’s focus on keeping costs low. Additionally, the aircraft’s range and seating capacity will add flexibility to JetBlue’s network strategy as it targets growth in its focus cities, including options for transcontinental flying and opening the door to new markets and routes not feasible with the airline’s existing fleet.
The A220 is powered exclusively by Pratt & Whitney GTF engines, which deliver double-digit improvements in fuel and carbon emissions. Optimizing fuel burn is an important first step in JetBlue’s sustainability strategy, and prioritizing fuel-efficient aircraft and engines aligns with JetBlue’s approach to reducing emissions. Earlier this year, JetBlue became the first major U.S. airline to achieve carbon neutrality for all domestic flights, and later announced its plans to achieve net zero carbon emissions across all operations by 2040.
Considerable Comfort
The A220’s spacious and comfortable cabin makes it the perfect fit for JetBlue, which has consistently led U.S. airlines in onboard experience.
The airline’s A220s are outfitted with 140 Collins Meridian seats, customized around customer feedback and featuring a number of design elements with comfort and convenience in mind.
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PRESS RELEASE
Seating is arranged in a two-by-three configuration offering multiple seating options for all party sizes and includes USB-C, USB-A and AC power at every seat. JetBlue – which offers the most legroom in coacha – maximizes the A220’s ultra-modern design to create an elevated customer experience throughout the interior.
Keeping customers connected and entertained is also on display aboard JetBlue’s A220 with Thales AVANT and ViaSat-2 connectivity. With this system, JetBlue offers every customer high-definition screens at every seat and personalized entertainment choices. Additionally, JetBlue is the only U.S. carrier with free high-speed Fly-Fi® on every plane, providing customers with the ability to connect an unlimited number of devices to stream, surf, or chat during the entire flight, from gate to gate. Fly-Fi® connectivity is available in nearly every region that JetBlue fliesb.
Every aspect of the aircraft has been meticulously customized to create the perfect environment to deliver JetBlue’s award-winning service. Customer comfort is enhanced with bigger windows for better views and a more spacious feel, reconfigured overhead bins for additional carry-on bag capacity and custom LED mood lighting designed to provide a more soothing inflight experience with lighting scenarios that change with time of day or phase of flight.
Future of the Fleet
JetBlue’s first A220 aircraft arrived in December 2020 and the airline is on track to take delivery of its ninth A220 this month. Nine more are scheduled for delivery in 2022, followed by another 21 in 2023. Ultimately, these A220s will replace the airline’s E190s, with the last E190 exiting in 2026.
JetBlue’s initial order for 60 A220 aircraft was announced in July 2018.
About JetBlue
JetBlue is New York's Hometown Airline®, and a leading carrier in Boston, Fort Lauderdale-Hollywood, Los Angeles, Orlando and San Juan. JetBlue carries customers across the U.S., Caribbean and Latin America, and between New York and London. For more information, visit jetblue.com.
JetBlue Corporate Communications
Tel: +1.718.709.3089
corpcomm@jetblue.com
| (a) | JetBlue offers the most legroom in coach based on average fleet-wide seat pitch for U.S. airlines. | |||||||||||||
| (b) | Fly-Fi and live television are available on all JetBlue-operated flights. On ViaSat-2 equipped aircraft, Fly-Fi will not be available on portions of some routes, and live television will not be available while operating outside of the contiguous U.S., or until the aircraft returns to the coverage area. On all other aircraft, Fly-Fi and live television will not be available while operating outside of the contiguous U.S., or until the aircraft returns to the coverage area. | |||||||||||||
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