Jetblue Airways Corp 8-K, filed Oct 26, 2026
Jetblue Airways Corp (JBLU)
8-K
2026-10-26
For: 2026-10-26
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Added on
October 26, 2026
About this 8-K
Jetblue Airways Corp filed this 8-K on October 26, 2026.
JetBlue reported third-quarter operating revenue of $2.8 billion, up 21.1%, and RASM growth of 18.4%. It expects 1–2 points of fourth-quarter operating-margin expansion and targets at least $1 EPS and positive free cash flow in 2028. AI summary
Items reported
- Item 2.02: Financial results
- 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): October 26, 2026
(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 2.02 Results of Operations and Financial Condition.
On October 26, 2026, we issued a press release announcing our financial results for the third quarter ended September 30, 2026. A copy of the press release is attached to this report as Exhibit 99.1 and is incorporated herein by reference.
The information included under Item 2.02 of this report (including the exhibits) is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933.
Item 7.01 Regulation FD Disclosure.
On October 26, 2026, we provided an update for investors presenting information relating to our financial outlook for the fourth quarter ending December 31, 2026 and full year 2026, and other information regarding our business. The update and materials to be used in conjunction with the presentation are furnished herewith as Exhibit 99.2 and Exhibit 99.3 and are incorporated herein by reference.
The information included under Item 7.01 of this report (including the exhibits) is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit Number | Description | |||||||
Press Release dated October 26, 2026 of JetBlue Airways Corporation announcing financial results for the third quarter ended September 30, 2026. | ||||||||
Investor Update dated October 26, 2026 of JetBlue Airways Corporation. | ||||||||
| Earnings Presentation dated October 27, 2026. | ||||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
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: | October 26, 2026 | By: | /s/ Dawn Southerton | ||||||||||||||
| Dawn Southerton | |||||||||||||||||
| Vice President, Controller | |||||||||||||||||
| (Principal Accounting Officer) | |||||||||||||||||
Ex 99.1 - Earnings Release
JETBLUE ANNOUNCES THIRD QUARTER 2026 RESULTS
Airline delivered 18.4% RASM growth; recaptured approximately 87% of higher fuel costs
Fort Lauderdale RASM increased nearly 15% on more than 65% capacity growth
JetBlue expects 1–2 points of 4Q year-over-year operating margin expansion
NEW YORK (October 26, 2026) - JetBlue Airways Corporation (NASDAQ: JBLU) today reported its financial results for the third quarter of 2026.
"I'm very encouraged by the progress we made in the third quarter," said Joanna Geraghty, JetBlue's chief executive officer. "Resilient demand and strong yields drove revenue well ahead of our initial expectations, allowing us to recapture more of the increase in fuel costs than we initially expected. That momentum has carried into the fourth quarter, and Fort Lauderdale continues to deliver exceptional results even as we significantly grow capacity."
"We delivered year-over-year adjusted operating margin improvement in the third quarter and expect further expansion in the fourth quarter even with higher fuel prices. Together with continued JetForward execution, this reinforces our confidence in achieving sustained operating profitability in 2027 and delivering at least $1 EPS and positive free cash flow in 2028."
Strong revenue momentum driven by higher yields and resilient demand in 3Q26
•Higher yields, supported by improved revenue management technology, drove the majority of third-quarter revenue outperformance. Both premium and Main achieved double-digit RASM growth and demand remained resilient across peak and off-peak travel periods despite higher fuel.
•Revenue strength has extended beyond the peak summer season and into the fourth quarter, with continued revenue improvement expected despite a more challenging year-over-year comparison.
Growth in Fort Lauderdale strengthens JetBlue's competitive position
•Continued expansion with 15 new destinations and increased frequencies strengthening local schedules and connecting itineraries. Peak daily departures planned to exceed 150 this winter, up 39% year-over-year. JetBlue's fourth quarter seat share expected to reach approximately 37%, up 14 points year-over-year.
•Co-brand credit card acquisitions in Broward County increased 55% year-over-year in the third quarter.
Improving margins and healthy liquidity support bridge to at least $1 EPS target
•Underlying unit cost performance excluding fuel remained within initial expectations, excluding approximately four points of disruption-related pressure in the third quarter.
•Expect a meaningful step-down in fourth-quarter unit-cost growth excluding fuel, alongside continued revenue strength, to support further margin expansion heading into 2027.
•Ended the third quarter with $2.2 billion of liquidity, including a $600 million undrawn credit facility, with an additional $250 million of aircraft-backed financing expected to fund in the fourth quarter subject to customary funding mechanics.
•Expanded unencumbered asset base to ~$7 billion, including $2.8 billion in aircraft and engines following updated fleet appraisals and aircraft deliveries paid with cash, providing additional financing flexibility.
Third Quarter 2026 Financial Results
•Third quarter 2026 system capacity increased 2.3% year-over-year, within our revised guidance range (1) of 1.5% to 3.5%.
•Operating revenue of $2.8 billion for the third quarter of 2026, an increase of 21.1% year-over-year.
•Operating revenue per available seat mile ("RASM") increased 18.4% year-over-year, materially exceeding initial expectations and in line with our revised guidance range.
•Operating expense per available seat mile ("CASM") for the third quarter of 2026 increased 19.4% year-over-year, largely driven by higher fuel prices.
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•Operating expense per available seat mile, excluding fuel, other non-airline operating expenses, and special items ("CASM ex-Fuel") (2) for the third quarter of 2026 increased 7.0% year-over-year, consistent with the revised guidance.
•Average fuel price in the third quarter of 2026 was $3.91 per gallon, 57% higher compared to the prior year period.
•Capital expenditures, including predelivery deposits, totaled $189 million (3) in the third quarter, below the revised guidance of approximately $275 million, primarily reflecting the timing of one aircraft delivery and LGA slot payments shifting into the fourth quarter.
Third Quarter 2026 Commercial and Financial Highlights
•Completed the transition to an upgraded revenue management system, delivering early benefits ahead of expectations through improved forecast accuracy and optimization of Mint® and connecting itineraries.
•Realized loyalty revenue growth of 20% year-over-year in the third quarter, alongside double-digit growth in co-brand spending and more than eightfold growth in Premier Card acquisitions following the card refresh. Opened BlueHouse™ Boston to further enhance the premium customer experience.
•Drove TrueBlue's member engagement through Blue Sky, with members redeeming more than 1.1 billion points on United flights since the partnership launched.
•Paisly delivered its strongest financial results ever in the third quarter. MileagePlus Travel rental car bookings have outpaced United's previous provider since launch and additional travel offerings are planned throughout 2026 and in the first half of 2027.
•Launched sales for BlueFirst™, JetBlue's new domestic first-class experience, across more than 30 routes, with initial service beginning December 8 between Boston and Fort Lauderdale and additional routes launching in phases.
Outlook
"Our strong revenue performance is encouraging, and we see meaningful runway for further growth as our commercial initiatives continue to mature," said Marty St. George, JetBlue's president. "We're already seeing benefits from enhanced revenue management and growing loyalty engagement, while BlueFirst and our expanding travel offerings represent significant opportunities still ahead. Combined with disciplined capacity deployment, we believe these initiatives position us to build on our revenue momentum into 2027 and beyond."
"We expect further margin expansion in the fourth quarter despite fuel prices forecasted to be 85% higher than in the same period last year. This is a testament to the compounding benefits of our JetForward strategy, which is improving our revenues and costs as we head into 2027," said Ursula Hurley, JetBlue's chief financial officer. "Importantly, we believe we have the liquidity and financing options to create a strong bridge to at least $1 EPS and positive free cash flow in 2028. We remain focused on disciplined cost execution and capital management as we work toward sustained profitability and positive free cash flow."
Fourth Quarter and Full Year 2026 Outlook | Estimated 4Q 2026 | Estimated FY 2026 | ||||||
| Available Seat Miles ("ASMs") Year-Over-Year | 3.0% - 4.0% | 1.5% - 2.5% | ||||||
| RASM Year-Over-Year | 18.0% - 22.0% | 13.5% - 14.5% | ||||||
CASM Ex-Fuel (2) Year-Over-Year | (1.0%) - 1.0% | 3.5% - 4.5% | ||||||
Fuel Price per Gallon (4) | $4.64 | $3.95 | ||||||
Adjusted Operating Margin (2) | - | (4.5%) - (6.5%) | ||||||
| Interest Expense | - | ~$590 million | ||||||
| Capital Expenditures | ~$300 million | ~$850 million (3) | ||||||
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Earnings Call Details
JetBlue will hold a conference call to discuss its quarterly earnings tomorrow, October 27, 2026 at 10:00 a.m. Eastern Time. A live broadcast of the conference call will also be available via the internet at http://investor.jetblue.com. The webcast replay and presentation materials will be archived on the airline's website for at least 30 days.
For further details, see the third quarter 2026 Earnings Presentation available via the internet at http://investor.jetblue.com.
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, known for its low fares and great service, carries customers to more than 100 destinations throughout the United States, Latin America, the Caribbean, Canada and Europe. For more information and the best fares, visit jetblue.com.
Notes
Our estimated effective tax rate is ~6% for the full year 2026, primarily reflecting a non-cash impact from a valuation allowance included in our forecasted annual effective tax rate.
(1)Revised guidance as of September 10, 2026.
(2)Non-GAAP financial measure; Note A provides a reconciliation of each non-GAAP financial measure used in this release to the most directly comparable GAAP financial measure and explains the reasons management believes that presentation of these non-GAAP financial measures provides useful information to investors regarding JetBlue's financial condition and results of operations. In addition, refer to Note A for further details on non-GAAP forward-looking information.
(3)Capital expenditures exclude one Airbus A321neo XLR, which JetBlue expects to sell.
(4)Fuel price estimate utilizes the forward Brent crude curve and the forward Brent crude to jet crack spread as of October 16, 2026 to calculate fuel price. Includes fuel taxes and other fuel fees.
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Forward-Looking Information
This Earnings Release 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 the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements other than statements of historical facts contained in this Earnings Release are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "expects," "plans," "intends," "anticipates," "indicates," "remains," "believes," "estimates," "forecast," "guidance," "outlook," "may," "will," "should," "seeks," "goals," "targets" or the negative of these terms or other similar expressions. Additionally, forward-looking statements include statements that do not relate solely to historical facts, such as statements which identify uncertainties or trends, discuss the possible future effects of current known trends or uncertainties, or which indicate that the future effects of known trends or uncertainties cannot be predicted, guaranteed, or assured. Forward-looking statements contained in this Earnings Release include, without limitation, statements regarding our outlook, goals, and future results of operations and financial position, including our intended path to profitability, positive free cash flow, earnings targets and related assumptions, any expected headwinds or tailwinds, fuel prices and volatility, demand, our use of artificial intelligence, our aircraft fleet, our product offerings and loyalty initiatives, and our business strategy and plans and objectives for future operations, such as our JetForward initiatives, our Blue Sky collaboration, BlueFirstTM product launch, expected growth opportunities at select airports, our financing arrangements and potential implications thereof on our business, our sustainability initiatives, the impact of industry conditions, our ability to adjust pricing in response to changes in fuel costs or demand, and the related impacts on our business. 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 important factors, including, without limitation, our extremely competitive industry; the risk associated with the execution of our strategic operating plans in the near-term and long-term; risks related to the long-term nature of our fleet order book; volatility in fuel prices and availability of fuel; increased maintenance costs associated with fleet age; costs associated with salaries, wages and benefits; risks associated with a potential material reduction in the rate of interchange reimbursement fees; risks associated with doing business internationally; our reliance on high daily aircraft utilization; our dependence on the New York metropolitan market; risks associated with extended interruptions or disruptions in service at our focus cities; risks associated with airport expenses; risks associated with seasonality and weather; our reliance on a limited number of suppliers for our aircraft, engines, and our Fly-Fi® product; risks related to new or increased tariffs, including those that impact commercial aircraft and related parts imported from outside the United States; the outcome of current or future legal proceedings or regulatory actions; risks associated with stockholder activism; risks associated with cybersecurity and privacy, including potential disruptions to our information technology systems or information security breaches; heightened regulatory requirements concerning data security compliance; risks associated with reliance on, and potential failure of, automated systems to operate our business; our inability to attract and retain qualified crewmembers; our being subject to potential unionization, work stoppages, slowdowns or increased labor costs; reputational and business risk from an accident or incident involving our aircraft; risks associated with damage to our reputation and the JetBlue brand name; our significant amount of fixed obligations and the ability to service such obligations; possible failure to comply with financial and other debt covenants included in the agreements governing our debt; financial risks associated with credit card processors; risks associated with seeking short-term additional financing liquidity; failure to realize the full value of intangible or long-lived assets, causing us to record impairments; limits on our ability to use certain tax attributes; risks associated with our development and use of AI-powered solutions; risks associated with disease outbreaks or environmental disasters affecting travel behavior; compliance with environmental laws and regulations, which may cause us to incur substantial costs; the impacts of federal government shutdowns, federal budget constraints or federally imposed furloughs; increasing scrutiny of, and evolving expectations regarding, environmental matters; changes in government regulations in our industry; acts of war or terrorism; and changes in global economic or geopolitical conditions or an economic downturn leading to a continuing or accelerated decrease in demand for air travel. 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. You should understand that many important factors, in addition to those discussed or incorporated by reference in this Earnings Release, could cause our results to differ materially from those expressed in the forward- looking statements. Further information concerning these and other factors is contained in JetBlue's filings with the U.S. Securities and Exchange Commission (the "SEC"), including but not limited to in our Annual Report on Form 10-K for the year ended December 31,
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2025, as may be updated by our other SEC filings. In light of these risks and uncertainties, the forward-looking events discussed in this Earnings Release might not occur. Our forward-looking statements speak only as of the date of this Earnings Release. 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.
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| JETBLUE AIRWAYS CORPORATION | ||||||||||||||||||||||||||||||||||||||
| CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||||||||||||||||||||||||||||||||
| (unaudited, in millions, except per share amounts) | ||||||||||||||||||||||||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||||||||||||
| (percent changes based on unrounded numbers) | 2026 | 2025 | Percent Change | 2026 | 2025 | Percent Change | ||||||||||||||||||||||||||||||||
| OPERATING REVENUES | ||||||||||||||||||||||||||||||||||||||
| Passenger | $ | 2,600 | $ | 2,135 | 21.8 | $ | 7,135 | $ | 6,284 | 13.6 | ||||||||||||||||||||||||||||
| Other | 212 | 187 | 13.4 | 614 | 534 | 14.8 | ||||||||||||||||||||||||||||||||
| Total operating revenues | 2,812 | 2,322 | 21.1 | 7,749 | 6,818 | 13.7 | ||||||||||||||||||||||||||||||||
| OPERATING EXPENSES | ||||||||||||||||||||||||||||||||||||||
| Aircraft fuel | 868 | 539 | 61.0 | 2,352 | 1,554 | 51.4 | ||||||||||||||||||||||||||||||||
| Salaries, wages and benefits | 946 | 865 | 9.4 | 2,717 | 2,579 | 5.3 | ||||||||||||||||||||||||||||||||
| Landing fees and other rents | 199 | 179 | 11.1 | 551 | 509 | 8.2 | ||||||||||||||||||||||||||||||||
| Depreciation and amortization | 186 | 173 | 7.4 | 548 | 512 | 6.9 | ||||||||||||||||||||||||||||||||
| Aircraft rent | 19 | 21 | (8.3) | 49 | 60 | (18.2) | ||||||||||||||||||||||||||||||||
| Sales and marketing | 92 | 78 | 17.2 | 252 | 225 | 12.1 | ||||||||||||||||||||||||||||||||
| Maintenance, materials and repairs | 204 | 210 | (2.3) | 602 | 598 | 0.7 | ||||||||||||||||||||||||||||||||
| Special items | 33 | 5 | NM | (1) | 33 | 29 | 17.2 | |||||||||||||||||||||||||||||||
| Other operating expenses | 409 | 352 | 15.9 | 1,154 | 1,020 | 13.2 | ||||||||||||||||||||||||||||||||
| Total operating expenses | 2,956 | 2,422 | 22.1 | 8,258 | 7,086 | 16.5 | ||||||||||||||||||||||||||||||||
| OPERATING LOSS | (144) | (100) | 44.6 | (509) | (268) | 90.2 | ||||||||||||||||||||||||||||||||
| Operating margin | (5.1) | % | (4.3) | % | (0.8) | pts. | (6.6) | % | (3.9) | % | (2.7) | pts. | ||||||||||||||||||||||||||
| OTHER INCOME (EXPENSE) | ||||||||||||||||||||||||||||||||||||||
| Interest expense | (149) | (146) | 2.3 | (440) | (441) | (0.1) | ||||||||||||||||||||||||||||||||
| Interest income | 17 | 30 | (45.4) | 57 | 101 | (44.1) | ||||||||||||||||||||||||||||||||
| Capitalized interest | 1 | 2 | (32.0) | 3 | 8 | (57.6) | ||||||||||||||||||||||||||||||||
| Gain on investments, net | — | 8 | (94.3) | 4 | 12 | (63.5) | ||||||||||||||||||||||||||||||||
| Other | 5 | 10 | (53.2) | 8 | 27 | (69.2) | ||||||||||||||||||||||||||||||||
| Total other expense | (126) | (96) | 32.2 | (368) | (293) | (25.7) | ||||||||||||||||||||||||||||||||
| LOSS BEFORE INCOME TAXES | (270) | (196) | 38.6 | (877) | (561) | 56.5 | ||||||||||||||||||||||||||||||||
| Pre-tax margin | (9.6) | % | (8.4) | % | (1.2) | pts. | (11.3) | % | (8.2) | % | (3.1) | pts. | ||||||||||||||||||||||||||
| Income tax benefit | 13 | 53 | (74.1) | 54 | 136 | (59.9) | ||||||||||||||||||||||||||||||||
| NET LOSS | $ | (257) | $ | (143) | 80.4 | $ | (823) | $ | (425) | 93.6 | ||||||||||||||||||||||||||||
| LOSS PER COMMON SHARE | ||||||||||||||||||||||||||||||||||||||
| Basic | $ | (0.68) | $ | (0.39) | $ | (2.20) | $ | (1.18) | ||||||||||||||||||||||||||||||
| Diluted | $ | (0.68) | $ | (0.39) | $ | (2.20) | $ | (1.18) | ||||||||||||||||||||||||||||||
| WEIGHTED AVERAGE SHARES OUTSTANDING: | ||||||||||||||||||||||||||||||||||||||
| Basic | 377.3 | 363.7 | 374.7 | 359.7 | ||||||||||||||||||||||||||||||||||
| Diluted | 377.3 | 363.7 | 374.7 | 359.7 | ||||||||||||||||||||||||||||||||||
(1) Not meaningful or greater than 100% change.
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| JETBLUE AIRWAYS CORPORATION | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| COMPARATIVE OPERATING STATISTICS | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (unaudited) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (percent changes based on unrounded numbers) | 2026 | 2025 | Percent Change | 2026 | 2025 | Percent Change | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Revenue passengers (thousands) | 10,607 | 10,381 | 2.2 | 30,416 | 29,618 | 2.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Revenue passenger miles (RPMs) (millions) | 14,439 | 14,372 | 0.5 | 41,237 | 40,600 | 1.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Available seat miles (ASMs) (millions) | 17,268 | 16,884 | 2.3 | 49,778 | 49,126 | 1.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Load factor | 83.6 | % | 85.1 | % | (1.5) | pts. | 82.8 | % | 82.6 | % | 0.2 | pts. | ||||||||||||||||||||||||||||||||||||||||||||
Aircraft utilization (hours per day) (1) | 10.0 | 10.1 | (0.6) | 9.9 | 10.0 | (1.0) | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Average fare | $ | 245.11 | $ | 205.67 | 19.2 | $ | 234.59 | $ | 212.16 | 10.6 | ||||||||||||||||||||||||||||||||||||||||||||||
| Yield per passenger mile (cents) | 18.01 | 14.86 | 21.2 | 17.30 | 15.48 | 11.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Passenger revenue per ASM (cents) | 15.06 | 12.65 | 19.1 | 14.33 | 12.79 | 12.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Operating revenue per ASM (cents) | 16.28 | 13.75 | 18.4 | 15.57 | 13.88 | 12.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Operating expense per ASM (cents) | 17.12 | 14.34 | 19.4 | 16.59 | 14.42 | 15.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Operating expense per ASM, excluding fuel (cents) (2) | 11.78 | 11.02 | 7.0 | 11.69 | 11.10 | 5.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Departures | 82,669 | 79,016 | 4.6 | 236,834 | 232,578 | 1.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Average stage length (miles) | 1,289 | 1,317 | (2.1) | 1,298 | 1,308 | (0.8) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Average number of operating aircraft during period (1) | 297 | 287 | 3.5 | 293 | 287 | 2.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Average fuel cost per gallon | $ | 3.91 | $ | 2.49 | 57.4 | $ | 3.73 | $ | 2.48 | 50.2 | ||||||||||||||||||||||||||||||||||||||||||||||
| Fuel gallons consumed (millions) | 222 | 217 | 2.3 | 630 | 625 | 0.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Average number of full-time equivalent crewmembers | 19,882 | 19,525 | 1.8 | 19,725 | 19,208 | 2.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||
(1) Includes aircraft temporarily removed from service, including two aircraft impacted by the Pratt & Whitney engine groundings. (2) Refer to Note A at the end of our Earnings Release for more information on this non-GAAP financial measure. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| JETBLUE AIRWAYS CORPORATION | |||||||||||
| SELECTED CONSOLIDATED BALANCE SHEET DATA | |||||||||||
| (in millions) | |||||||||||
| September 30, 2026 | December 31, 2025 | ||||||||||
| (unaudited) | |||||||||||
| Cash and cash equivalents | $ | 1,258 | $ | 1,946 | |||||||
| Total investment securities | 368 | 531 | |||||||||
| Total assets | 15,966 | 16,570 | |||||||||
| Total debt | 8,393 | 8,498 | |||||||||
| Stockholders' equity | 1,337 | 2,120 | |||||||||
| JETBLUE AIRWAYS CORPORATION | |||||||||||
| SELECTED CONSOLIDATED CASH FLOWS DATA | |||||||||||
| (in millions) | |||||||||||
| Nine Months Ended September 30, | |||||||||||
| 2026 | 2025 | ||||||||||
| (unaudited) | |||||||||||
| Capital expenditures and pre-delivery deposits for flight equipment | $ | (624) | (1) | $ | (777) | ||||||
(1) Capital expenditures and pre-delivery deposits for 2026 consisted of $141 million in Q1 2026, $234 million in Q2 2026, and $249 million in Q3 2026, totaling $624 million year-to-date. Capital expenditures include charges related to one Airbus A321 neo XLR which JetBlue expects to sell. Full year guidance of ~$850 million (3) excludes this Airbus A321neo XLR.
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Note A - Non-GAAP Financial Measures
We report our financial results in accordance with GAAP; however, we present certain non-GAAP financial measures in this Earnings Release. Non-GAAP financial measures are financial measures that are derived from the condensed consolidated financial statements, but that are not presented in accordance with GAAP. We present these non-GAAP financial measures because we believe they provide useful supplemental information that enables a meaningful comparison of our results to others in the airline industry and our prior results. Investors should consider these non-GAAP financial measures in addition to, and not as a substitute for, our financial performance measures prepared in accordance with GAAP. Further, our non-GAAP information may be different from the non-GAAP information provided by other companies. The information below provides an explanation of each non-GAAP financial measure used in this Earnings Release and shows a reconciliation of certain non-GAAP financial measures used in this Earnings Release to the most directly comparable GAAP financial measures.
With respect to JetBlue's CASM Ex-Fuel (1) and Adjusted Operating Margin (2) guidance, JetBlue is not able to provide a reconciliation of forward-looking measures where the quantification of certain excluded items reflected in the measure cannot be calculated or predicted at this time without unreasonable efforts. In these cases, the reconciling information that is unavailable includes a forward-looking range of financial performance measures beyond our control, such as fuel costs, which are subject to many economic and political factors beyond our control. For the same reasons, we are unable to address the probable significance of the unavailable information, which could have a potentially unpredictable and potentially significant impact on our future GAAP financial results.
(1) CASM Ex-Fuel is a non-GAAP measure that excludes fuel, other non-airline operating expenses, and special items.
(2) Adjusted Operating Margin is a non-GAAP measure that excludes special items.
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Operating expense per available seat mile, excluding fuel, other non-airline operating expenses, and special items ("CASM ex-fuel")
CASM is a common metric used in the airline industry. Our CASM for the relevant periods are summarized in the table below. We exclude aircraft fuel, operating expenses related to other non-airline businesses, such as Paisly and JetBlue Technology Ventures (JBV), and special items from total operating expenses to determine Operating Expenses ex-fuel, which is a non-GAAP financial measure, and we exclude the same items from CASM to determine CASM ex-fuel, which is also a non-GAAP financial measure. We believe the impact of these special items distorts our overall trends and that our metrics are more comparable with the presentation of our results excluding such impact.
For each of the three and nine months ended September 30, 2026, special items included an adjustment to litigation reserves.
For each of the three and nine months ended September 30, 2025, special items included severance expenses and other special items.
We believe Operating Expenses ex-fuel and CASM ex-fuel are useful for investors because they provide investors the ability to measure our financial performance excluding items that are beyond our control, such as fuel costs, which are subject to many economic and political factors, as well as items that are not related to the generation of an available seat mile, such as operating expense related to certain non-airline businesses and special items. We believe these non-GAAP measures are more indicative of our ability to manage airline costs and are more comparable to measures reported by other major airlines.
The table below provides a reconciliation of our total operating expenses (GAAP measure) to Operating Expenses ex-fuel, and our CASM to CASM ex-fuel for the periods presented.
| NON-GAAP FINANCIAL MEASURE | |||||||||||||||||||||||||||||||||||||||||||||||
| RECONCILIATION OF OPERATING EXPENSE AND OPERATING EXPENSE PER ASM (CASM), EXCLUDING FUEL | |||||||||||||||||||||||||||||||||||||||||||||||
| (unaudited) | |||||||||||||||||||||||||||||||||||||||||||||||
| Three Months Ended September 30, | |||||||||||||||||||||||||||||||||||||||||||||||
| $ | Cents per ASM | ||||||||||||||||||||||||||||||||||||||||||||||
| (in millions; per ASM data in cents; percent changes based on unrounded numbers) | 2026 | 2025 | Percent Change | 2026 | 2025 | Percent Change | |||||||||||||||||||||||||||||||||||||||||
| Total operating expenses | $ | 2,956 | $ | 2,422 | 22.1 | 17.12 | 14.34 | 19.4 | |||||||||||||||||||||||||||||||||||||||
| Less: | |||||||||||||||||||||||||||||||||||||||||||||||
| Aircraft fuel | 868 | 539 | 61.0 | 5.03 | 3.19 | 57.5 | |||||||||||||||||||||||||||||||||||||||||
| Other non-airline expenses | 20 | 18 | 12.6 | 0.12 | 0.10 | 10.1 | |||||||||||||||||||||||||||||||||||||||||
| Special items | 33 | 5 | NM (1) | 0.19 | 0.03 | NM | |||||||||||||||||||||||||||||||||||||||||
| Operating expenses, excluding fuel | $ | 2,035 | $ | 1,860 | 9.4 | 11.78 | 11.02 | 7.0 | |||||||||||||||||||||||||||||||||||||||
(1) Not meaningful or greater than 100% change.
| NON-GAAP FINANCIAL MEASURE RECONCILIATION OF OPERATING EXPENSE AND OPERATING EXPENSE PER ASM (CASM), EXCLUDING FUEL | |||||||||||||||||||||||||||||||||||
| Nine Months Ended September 30, | |||||||||||||||||||||||||||||||||||
| $ | Cents per ASM | ||||||||||||||||||||||||||||||||||
| (in millions; per ASM data in cents; percent changes based on unrounded numbers) | 2026 | 2025 | Percent Change | 2026 | 2025 | Percent Change | |||||||||||||||||||||||||||||
| Total operating expenses | $ | 8,258 | $ | 7,086 | 16.5 | 16.59 | 14.42 | 15.0 | |||||||||||||||||||||||||||
| Less: | |||||||||||||||||||||||||||||||||||
| Aircraft fuel | 2,352 | 1,554 | 51.4 | 4.73 | 3.16 | 49.4 | |||||||||||||||||||||||||||||
| Other non-airline expenses | 56 | 50 | 12.1 | 0.10 | 0.10 | 10.6 | |||||||||||||||||||||||||||||
| Special items | 33 | 29 | 17.2 | 0.07 | 0.06 | 15.7 | |||||||||||||||||||||||||||||
| Operating expenses, excluding fuel | $ | 5,817 | $ | 5,453 | 6.7 | 11.69 | 11.10 | 5.3 | |||||||||||||||||||||||||||
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Operating Expense, Operating Loss, Operating Margin, Pre-tax Loss, Pre-tax Margin, Net Loss and Loss per Share, excluding Special Items and Gain on Investments
For each of the three and nine months ended September 30, 2026, special items included an adjustment to litigation reserves.
For each of the three and nine months ended September 30, 2025, special items included severance expenses and other special items.
Certain gains on our investments, net were also excluded from our September 30, 2026 and 2025 non-GAAP results.
We believe the impact of these items distort our overall trends and that our metrics are more comparable with the presentation of our results excluding the impact of these items. The table below provides a reconciliation of our GAAP reported amounts to the non-GAAP amounts excluding the impact of these items for the periods presented.
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| NON-GAAP FINANCIAL MEASURE | |||||||||||||||||||||||
| RECONCILIATION OF OPERATING EXPENSE, OPERATING LOSS, OPERATING MARGIN, PRE-TAX LOSS, PRE-TAX MARGIN, NET LOSS, LOSS PER SHARE, EXCLUDING SPECIAL ITEMS AND GAIN ON INVESTMENTS | |||||||||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
| (in millions except percentages) | 2026 | 2025 | 2026 | 2025 | |||||||||||||||||||
| Total operating revenues | $ | 2,812 | $ | 2,322 | $ | 7,749 | $ | 6,818 | |||||||||||||||
| RECONCILIATION OF OPERATING EXPENSE | |||||||||||||||||||||||
| Total operating expenses | $ | 2,956 | $ | 2,422 | $ | 8,258 | $ | 7,086 | |||||||||||||||
| Less: Special items | 33 | 5 | 33 | 29 | |||||||||||||||||||
| Total operating expenses excluding special items | $ | 2,923 | $ | 2,417 | $ | 8,225 | $ | 7,057 | |||||||||||||||
| Percent change | 20.9 | % | 16.5 | % | |||||||||||||||||||
| RECONCILIATION OF OPERATING LOSS | |||||||||||||||||||||||
| Operating loss | $ | (144) | $ | (100) | $ | (509) | $ | (268) | |||||||||||||||
| Add back: Special items | 33 | 5 | 33 | 29 | |||||||||||||||||||
| Operating loss excluding special items | $ | (111) | $ | (95) | $ | (476) | $ | (239) | |||||||||||||||
| RECONCILIATION OF OPERATING MARGIN | |||||||||||||||||||||||
| Operating margin | (5.1) | % | (4.3) | % | (6.6) | % | (3.9) | % | |||||||||||||||
| Operating loss excluding special items | $ | (111) | $ | (95) | $ | (476) | $ | (239) | |||||||||||||||
| Total operating revenues | 2,812 | 2,322 | 7,749 | 6,818 | |||||||||||||||||||
| Adjusted operating margin | (3.9) | % | (4.1) | % | (6.1) | % | (3.5) | % | |||||||||||||||
| RECONCILIATION OF PRE-TAX LOSS | |||||||||||||||||||||||
| Loss before income taxes | $ | (270) | $ | (196) | $ | (877) | $ | (561) | |||||||||||||||
| Add back: Special items | 33 | 5 | 33 | 29 | |||||||||||||||||||
| Less: Gain on investments, net | — | 8 | 4 | 12 | |||||||||||||||||||
| Loss before income taxes excluding special items and gain on investments | $ | (237) | $ | (199) | $ | (848) | $ | (544) | |||||||||||||||
| RECONCILIATION OF PRE-TAX MARGIN | |||||||||||||||||||||||
| Pre-tax margin | (9.6) | % | (8.4) | % | (11.3) | % | (8.2) | % | |||||||||||||||
| Loss before income taxes excluding special items and gain on investments | $ | (237) | $ | (199) | $ | (848) | $ | (544) | |||||||||||||||
| Total operating revenues | 2,812 | 2,322 | 7,749 | 6,818 | |||||||||||||||||||
| Adjusted pre-tax margin | (8.5) | % | (8.6) | % | (10.9) | % | (8.0) | % | |||||||||||||||
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| NON-GAAP FINANCIAL MEASURE | |||||||||||||||||||||||
| RECONCILIATION OF OPERATING EXPENSE, OPERATING LOSS, OPERATING MARGIN, PRE-TAX LOSS, PRE-TAX MARGIN, NET LOSS, LOSS PER SHARE, EXCLUDING SPECIAL ITEMS AND GAIN ON INVESTMENTS | |||||||||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
| (in millions except percentages) | 2026 | 2025 | 2026 | 2025 | |||||||||||||||||||
| RECONCILIATION OF NET LOSS | |||||||||||||||||||||||
| Net loss | $ | (257) | $ | (143) | $ | (823) | $ | (425) | |||||||||||||||
| Add back: Special items | 33 | 5 | 33 | 29 | |||||||||||||||||||
| Less: Income tax benefit related to special items | 1 | — | 1 | 7 | |||||||||||||||||||
| Less: Gain on investments, net | — | 8 | 4 | 12 | |||||||||||||||||||
| Less: Income tax benefit (expense) related to gain on investments, net | 1 | (2) | — | (3) | |||||||||||||||||||
| Net loss excluding special items and gain on investments | $ | (226) | $ | (144) | $ | (795) | $ | (412) | |||||||||||||||
| CALCULATION OF LOSS PER SHARE | |||||||||||||||||||||||
| Loss per common share | |||||||||||||||||||||||
| Basic | $ | (0.68) | $ | (0.39) | $ | (2.20) | $ | (1.18) | |||||||||||||||
| Add back: Special items | 0.09 | 0.01 | 0.09 | 0.08 | |||||||||||||||||||
| Less: Income tax benefit related to special items | 0.01 | — | — | 0.02 | |||||||||||||||||||
| Less: Gain on investments, net | — | 0.02 | 0.01 | 0.04 | |||||||||||||||||||
| Less: Income tax expense related to gain on investments, net | — | — | — | (0.01) | |||||||||||||||||||
| Basic excluding special items and gain on investments | $ | (0.60) | $ | (0.40) | $ | (2.12) | $ | (1.15) | |||||||||||||||
| Diluted | $ | (0.68) | $ | (0.39) | $ | (2.20) | $ | (1.18) | |||||||||||||||
| Add back: Special items | 0.09 | 0.01 | 0.09 | 0.08 | |||||||||||||||||||
| Less: Income tax benefit related to special items | 0.01 | — | — | 0.02 | |||||||||||||||||||
| Less: Gain on investments, net | — | 0.02 | 0.01 | 0.04 | |||||||||||||||||||
| Less: Income tax expense related to gain on investments, net | — | — | — | (0.01) | |||||||||||||||||||
| Diluted excluding special items and gain on investments | $ | (0.60) | $ | (0.40) | $ | (2.12) | $ | (1.15) | |||||||||||||||
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CONTACTS
JetBlue Investor Relations
Tel: +1 718 709 2202
ir@jetblue.com
JetBlue Corporate Communications
Tel: +1 718 709 3089
corpcomm@jetblue.com
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Ex 99.2 - Investor UpdateInvestor Update: October 26, 2026
This update provides JetBlue's investor guidance for the fourth quarter ending December 31, 2026 and full year 2026.
Fourth Quarter and Full Year 2026 Outlook | Estimated 4Q 2026 | Estimated FY 2026 | ||||||
| Capacity and Revenue | ||||||||
| Available Seat Miles ("ASMs") Year-Over-Year | 3.0% - 4.0% | 1.5% - 2.5% | ||||||
| RASM Year-Over-Year | 18.0% - 22.0% | 13.5% - 14.5% | ||||||
| Expense | ||||||||
CASM Ex-Fuel (1) Year-Over-Year | (1.0%) - 1.0% | 3.5% - 4.5% | ||||||
Fuel Price per Gallon (2) | $4.64 | $3.95 | ||||||
Adjusted Operating Margin (1) | - | (4.5%) - (6.5%) | ||||||
| Interest Expense | - | ~$590 million | ||||||
| Capital Expenditures | ~$300 million | ~$850 million (3) | ||||||
Our estimated effective tax rate is ~6% for the full year 2026, primarily reflecting a non-cash impact from a valuation allowance included in our forecasted annual effective tax rate.
(1) Non-GAAP financial measure; Note A provides a reconciliation of each non-GAAP financial measure used in this release to the most directly comparable GAAP financial measure and explains the reasons management believes that presentation of these non-GAAP financial measures provides useful information to investors regarding JetBlue's financial condition and results of operations. In addition, refer to Note A for further details on non-GAAP forward-looking information.
(2) Fuel price estimate utilizes the forward Brent crude curve and the forward Brent crude to jet crack spread as of October 16, 2026 to calculate fuel price. Includes fuel taxes and other fuel fees.
(3) Capital expenditures exclude one Airbus A321neo XLR, which JetBlue expects to sell.
1
JetBlue Airways Investor Relations • (718) 709-2202 • ir@jetblue.com
Investor UpdateOrder Book
As of September 30, 2026, JetBlue's operating fleet was comprised of 129 Airbus A320 aircraft, 102 Airbus A321, and 67 Airbus A220, for a total of 298 aircraft. This total includes aircraft that have been temporarily removed from service, but are expected to return to operation in the future.
JetBlue's aircraft deliveries (1) for full year, as of September 30, 2026:
| Year | A220 | A321NEO (2) | TOTAL (3) | |||||||||||
2026 (4) | 12 | — | 12 | |||||||||||
| 2027 | 7 | — | 7 | |||||||||||
| 2028 | 9 | — | 9 | |||||||||||
| 2029 | 10 | — | 10 | |||||||||||
| 2030 | 2 | 2 | 4 | |||||||||||
| Thereafter | 1 | 42 | 43 | |||||||||||
(1) Aircraft delivery timing and related committed expenditures are based on contractual schedules, adjusted for management's current expectations and recent communications from Airbus regarding delivery delays. Actual timing may differ due to production schedules, supply chain constraints, contractual modifications, regulatory matters and other factors.
(2) Excludes one Airbus A321neo XLR, which JetBlue expects to sell.
(3) In addition, we have options to purchase 20 A220-300 aircraft in 2028 through 2030.
(4) Includes eight aircraft delivered in 2026 as of September 30th.
2
JetBlue Airways Investor Relations • (718) 709-2202 • ir@jetblue.com
Investor UpdateForward-Looking Information
This Investor Update 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 the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements other than statements of historical facts contained in this Investor Update are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "expects," "plans," "intends," "anticipates," "indicates," "remains," "believes," "estimates," "forecast," "guidance," "outlook," "may," "will," "should," "seeks," "goals," "targets" or the negative of these terms or other similar expressions. Additionally, forward-looking statements include statements that do not relate solely to historical facts, such as statements which identify uncertainties or trends, discuss the possible future effects of current known trends or uncertainties, or which indicate that the future effects of known trends or uncertainties cannot be predicted, guaranteed, or assured. Forward-looking statements contained in this Investor Update include, without limitation, statements regarding our outlook, goals, and future results of operations and financial position, including our intended path to profitability, positive free cash flow, earnings targets and related assumptions, any expected headwinds or tailwinds, fuel prices and volatility, demand, our use of artificial intelligence, our aircraft fleet, our product offerings and loyalty initiatives, and our business strategy and plans and objectives for future operations, such as our JetForward initiatives, our Blue Sky collaboration, BlueFirstTM product launch, expected growth opportunities at select airports, our financing arrangements and potential implications thereof on our business, our sustainability initiatives, the impact of industry conditions, our ability to adjust pricing in response to changes in fuel costs or demand, and the related impacts on our business. 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 important factors, including, without limitation, our extremely competitive industry; the risk associated with the execution of our strategic operating plans in the near-term and long-term; risks related to the long-term nature of our fleet order book; volatility in fuel prices and availability of fuel; increased maintenance costs associated with fleet age; costs associated with salaries, wages and benefits; risks associated with a potential material reduction in the rate of interchange reimbursement fees; risks associated with doing business internationally; our reliance on high daily aircraft utilization; our dependence on the New York metropolitan market; risks associated with extended interruptions or disruptions in service at our focus cities; risks associated with airport expenses; risks associated with seasonality and weather; our reliance on a limited number of suppliers for our aircraft, engines, and our Fly-Fi® product; risks related to new or increased tariffs, including those that impact commercial aircraft and related parts imported from outside the United States; the outcome of current or future legal proceedings or regulatory actions; risks associated with stockholder activism; risks associated with cybersecurity and privacy, including potential disruptions to our information technology systems or information security breaches; heightened regulatory requirements concerning data security compliance; risks associated with reliance on, and potential failure of, automated systems to operate our business; our inability to attract and retain qualified crewmembers; our being subject to potential unionization, work stoppages, slowdowns or increased labor costs; reputational and business risk from an accident or incident involving our aircraft; risks associated with damage to our reputation and the JetBlue brand name; our significant amount of fixed obligations and the ability to service such obligations; possible failure to comply with financial and other debt covenants included in the agreements governing our debt; financial risks associated with credit card processors; risks associated with seeking short-term additional financing liquidity; failure to realize the full value of intangible or long-lived assets, causing us to record impairments; limits on our ability to use certain tax attributes; risks associated with our development and use of AI-powered solutions; risks associated with disease outbreaks or environmental disasters affecting travel behavior; compliance with environmental laws and regulations, which may cause us to incur substantial costs; the impacts of federal government shutdowns, federal budget constraints or federally imposed furloughs; increasing scrutiny of, and evolving expectations regarding, environmental matters; changes in government regulations in our industry; acts of war or terrorism; and changes in global economic conditions or an economic downturn leading to a continuing or accelerated decrease in demand for air travel. 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. You should understand that many important factors, in addition to those discussed or incorporated by reference in this Investor Update, could cause our results to differ materially from those expressed in the forward-looking statements. Further information concerning these and other factors is contained in JetBlue's filings with the U.S. Securities and Exchange Commission (the "SEC"), including but not limited to in our Annual Report on Form 10-K for the year ended December 31, 2025, as may be updated by our other SEC filings. In light of these risks and uncertainties, the forward-looking events discussed in this Investor Update might not occur. Our forward-looking statements speak only as of the date of this Investor Update. 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.
3
JetBlue Airways Investor Relations • (718) 709-2202 • ir@jetblue.com
Investor UpdateNote A - Non-GAAP Financial Measures
We report our financial results in accordance with GAAP; however, we present certain non-GAAP financial measures in this Investor Update. Non-GAAP financial measures are financial measures that are derived from the condensed consolidated financial statements, but that are not presented in accordance with GAAP. We present these non-GAAP financial measures because we believe they provide useful supplemental information that enables a meaningful comparison of our results to others in the airline industry and our prior results. Investors should consider these non-GAAP financial measures in addition to, and not as a substitute for, our financial performance measures prepared in accordance with GAAP. Further, our non-GAAP information may be different from the non-GAAP information provided by other companies.
With respect to JetBlue's CASM Ex-Fuel (1) and Adjusted Operating Margin (2) guidance, we are not able to provide a reconciliation of forward-looking measures where the quantification of certain excluded items reflected in the measures cannot be calculated or predicted at this time without unreasonable efforts. In these cases, the reconciling information that is unavailable includes a forward-looking range of financial measures beyond our control, such as fuel costs, which are subject to many economic and political factors beyond our control. For the same reasons, we are unable to address the probable significance of the unavailable information, which could have a potentially unpredictable and potentially significant impact on our future GAAP financial results.
(1) CASM Ex-Fuel is a non-GAAP measure that excludes fuel, other non-airline operating expenses, and special items.
(2) Adjusted Operating Margin is a non-GAAP measure that excludes special items.
4
JetBlue Airways Investor Relations • (718) 709-2202 • ir@jetblue.com
3Q26 Earnings Presentation October 27, 2026
The JetBlue Way Forward | Our Strategic Evolution | Returning to Historical Earnings Power 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 the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements other than statements of historical facts contained in this Presentation are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "expects," "plans," "intends," "anticipates," "indicates," "remains," "believes," "estimates," "forecast," "guidance," "outlook," "may," "will," "should," "seeks," "goals," "targets" or the negative of these terms or other similar expressions. Additionally, forward-looking statements include statements that do not relate solely to historical facts, such as statements which identify uncertainties or trends, discuss the possible future effects of current known trends or uncertainties, or which indicate that the future effects of known trends or uncertainties cannot be predicted, guaranteed, or assured. Forward-looking statements contained in this Presentation include, without limitation, statements regarding our outlook, goals, and future results of operations and financial position, including our intended path to profitability, positive free cash flow, earnings targets and related assumptions, any expected headwinds or tailwinds, fuel prices and volatility, demand, our use of artificial intelligence, our aircraft fleet, our product offerings and loyalty initiatives, and our business strategy and plans and objectives for future operations, such as our JetForward initiatives, our Blue Sky collaboration, BlueFirstTM product launch, expected growth opportunities at select airports, our financing arrangements and potential implications thereof on our business, our sustainability initiatives, the impact of industry conditions, our ability to adjust pricing in response to changes in fuel costs or demand, and the related impacts on our business. 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 important factors, including, without limitation, our extremely competitive industry; the risk associated with the execution of our strategic operating plans in the near-term and long-term; risks related to the long-term nature of our fleet order book; volatility in fuel prices and availability of fuel; increased maintenance costs associated with fleet age; costs associated with salaries, wages and benefits; risks associated with a potential material reduction in the rate of interchange reimbursement fees; risks associated with doing business internationally; our reliance on high daily aircraft utilization; our dependence on the New York metropolitan market; risks associated with extended interruptions or disruptions in service at our focus cities; risks associated with airport expenses; risks associated with seasonality and weather; our reliance on a limited number of suppliers for our aircraft, engines, and our Fly-Fi® product; risks related to new or increased tariffs, including those that impact commercial aircraft and related parts imported from outside the United States; the outcome of current or future legal proceedings or regulatory actions; risks associated with stockholder activism; risks associated with cybersecurity and privacy, including potential disruptions to our information technology systems or information security breaches; heightened regulatory requirements concerning data security compliance; risks associated with reliance on, and potential failure of, automated systems to operate our business; our inability to attract and retain qualified crewmembers; our being subject to potential unionization, work stoppages, slowdowns or increased labor costs; reputational and business risk from an accident or incident involving our aircraft; risks associated with damage to our reputation and the JetBlue brand name; our significant amount of fixed obligations and the ability to service such obligations; possible failure to comply with financial and other debt covenants included in the agreements governing our debt; financial risks associated with credit card processors; risks associated with seeking short-term additional financing liquidity; failure to realize the full value of intangible or long- lived assets, causing us to record impairments; limits on our ability to use certain tax attributes; risks associated with our development and use of AI-powered solutions; risks associated with disease outbreaks or environmental disasters affecting travel behavior; compliance with environmental laws and regulations, which may cause us to incur substantial costs; the impacts of federal government shutdowns, federal budget constraints or federally imposed furloughs; increasing scrutiny of, and evolving expectations regarding, environmental matters; changes in government regulations in our industry; acts of war or terrorism; and changes in global economic or geopolitical conditions or an economic downturn leading to a continuing or accelerated decrease in demand for air travel. 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. You should understand that many important factors, in addition to those discussed or incorporated by reference in this Presentation, could cause our results to differ materially from those expressed in the forward-looking statements. Further information concerning these and other factors is contained in JetBlue's filings with the U.S. Securities and Exchange Commission (the "SEC"), including but not limited to in our Annual Report on Form 10-K for the year ended December 31, 2025, as may be updated by our other SEC filings. In light of these risks and uncertainties, the forward-looking events discussed in this Presentation might not occur. Our forward-looking statements speak only as of the date of this Presentation. 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. 2
3Q26 Recap Joanna Geraghty Chief Executive Officer 3
Strong Revenue Growth Supports YoY Margin Expansion in 2H (1) Initial 3Q26 guidance as of July 28, 2026. (2) Adjusted operating margin is a Non-GAAP financial measure; refer to Appendix A for further details on Non-GAAP measures. (3) Management reviews the estimated amount of earnings before interest and taxes attributable to JetForward initiatives within a given period to evaluate progress against our financial and operational targets. Incremental EBIT reflects the estimated impact of strategic initiatives on profitability, such as partnerships, fleet optimization, network changes, and cost reduction programs. 4 Revenue Strength Driving Earnings Improvement • Strong demand and commercial execution drove 3Q RASM ~4pts above initial guidance (1) midpoint • Fuel recapture reached ~87%, ahead of 70-80% expectation • Adjusted operating margin (2) expanded YoY in 3Q; 1-2pts expansion expected in 4Q despite fuel prices up 85% YoY Compounding Benefits of JetForward Expected to Drive Sustained Earnings • JetForward remains on track to deliver ≥$310M in incremental EBIT (3) in 2026, while targeting ~$1.2B incremental EBIT and at least $1.00 EPS in 2028 • Achieving operating profitability in 2027 remains our next milestone, supported by revenue momentum and continued controllable cost execution
Commercial Update and Outlook Marty St. George President 5
Unit Revenue Momentum Continuing Into 4Q RASM YoY Growth ASMs YoY Growth Exceeded 3Q Revenue Expectations While Delivering on JetForward • RASM +18.4% YoY, led by over 20% yield growth; no meaningful demand elasticity • Broad-based revenue strength across booking curve, peak & off-peak, supported by improved revenue management technology • Premium and Main RASM both up double-digits YoY • Corporate revenue increased ~25% YoY • Paisly on track for nearly $100M operating income in 2026 and nearly double that by 2028 Expecting Continued 4Q RASM Progression • 4Q extends sequential RASM momentum despite tougher comps • Disciplined capacity growth concentrated in FLL; rest of network flat to down • BlueFirst now on sale across 30+ routes; ~5pts of RASM impact expected in steady-state (1) Midpoint of initial 3Q26 guidance as of July 28, 2026. (2) Midpoint of revised 3Q26 guidance as of September 10, 2026. 6 14.5% 3Q26 Initial Guidance (1) 18.5% 3Q26 Revised Guidance (2) 18.4% 3Q26 Actual 18.0% to 22.0% 4Q26 Guidance 4.5% 3Q26 Initial Guidance (1) 2.5% 3Q26 Revised Guidance (2) 2.3% 3Q26 Actual 3.0% to 4.0% 4Q26 Guidance
Premier Card & BlueHouseTM FLL Growth and Maturation Blue Sky Seat Upgrade Merchandising New Revenue Management Technology BlueFirstTM 4Q Outlook Implies Fifth Straight Quarter of RASM Improvement 7 MULTIPLE INITIATIVES CONTINUE TO RAMP BEYOND 2026 13.75¢ 3Q25 (2.7%) 14.13¢ 4Q25 +0.2% 14.60¢ 1Q26 +6.5% 15.71¢ 2Q26 +10.9% 16.28¢ 3Q26 +18.4% 4Q26 Guidance +18.0% - 22.0% Y/Y RASM growth 2027–2028E1Q25 – 2Q25 +MSD +18.4% since 3Q25
BlueFirst Makes Premium Travel More Accessible as We Expand Across the Network More Choice, More Ways to Experience BlueFirstTM A Fresh Take on First Class • BlueFirst now on sale across 30+ routes • Spacious 2-by-2 recliners with up to 7″ extra legroom • Service begins Dec. 8; phased rollout across network where Mint® is not offered • Majority of retrofits expected to be completed in 2027, with earnings contributions building through 2028 8 Expected to drive ~5 Points of RASM improvement at steady state (1) Illustrative fare example of our product offering, captured on October 25, 2026 for travel on February 26, 2027. Fares are subject to change. Explore BlueFirst | Read the on-sale announcement (1)
Fort Lauderdale RASM Growth Accelerated as We Continue Building Scale >65% ASM growth YoY +15% RASM YoY >150 Planned peak daily departures in 4Q Greater Scale Expands Local Relevance and Connectivity New routes broaden choice from Fort Lauderdale Customer Response Continues to Strengthen +15% RASM in 3Q builds on +11% in 2Q and +5% in 1Q High-Return Strategic Growth Opportunity Network relevance combined with loyalty and product improvements expected to drive strong returns 9 CCS* * CCS service is subject to pending government approval.
Financial Update and Outlook Ursula Hurley Chief Financial Officer 10
Executing Cost Actions and Driving Sequential Improvement Into 4Q CASM ex-Fuel (1) YoY Growth Fuel Price per Gallon Managing Disruption While Continuing Cost Actions • 3Q operational disruptions drove $19M of incremental ex-Fuel costs and ~4pts of CASM ex-Fuel pressure • Underlying cost execution stayed on track despite disruption- driven 3Q pressure Cost Actions Delivering Results • Over $30M of JetForward cost saving initiatives delivered in 3Q • Savings led by business partner spend management, improved crew utilization, and technology modernization 4Q Cost Outlook Points to Sequential Improvement • 4Q CASM ex-Fuel growth of (1.0%) to 1.0% aligns with our low- single-digit 2027 cost framework 11 (1) Operating expense per available seat mile, excluding fuel, other non-airline operating expenses and special items (“CASM ex- Fuel”); See Appendix A for further details on Non-GAAP measures. (2) Initial 3Q26 guidance as of July 28, 2026; CASM ex-Fuel shown at midpoint of guidance range. (3) Revised 3Q26 guidance as of September 10, 2026; CASM ex-Fuel shown at midpoint of guidance range. 3.5% 3Q26 Initial Guidance (2) 7.0% 3Q26 Revised Guidance (3) 7.0% 3Q26 Actual (1.0%) to 1.0% 4Q26 Guidance $3.49 3Q26 Initial Guidance (2) $3.96 3Q26 Revised Guidance (3) $3.91 3Q26 Actual $4.64 4Q26 Guidance
4Q and Full Year 2026 Outlook 12 Note: Our estimated effective tax rate is ~6% for full year 2026, primarily reflecting a non-cash impact from a valuation allowance included in our forecasted annual effective tax rate. (1) Non-GAAP financial measure; refer to Appendix A for further details on non-GAAP forward looking information. (2) Fuel price estimate utilizes the forward Brent crude curve and the forward Brent crude to jet crack spread as of October 16, 2026 to calculate fuel price. Includes fuel taxes and other fuel fees. (3) Excludes one Airbus A321neo XLR, which JetBlue expects to sell. Guidance Estimated 4Q 2026 Estimated FY 2026 ASMs Year-over-Year 3.0% – 4.0% 1.5% – 2.5% RASM Year-over-Year 18.0% – 22.0% 13.5% – 14.5% CASM ex-Fuel (1) Year-over-Year (1.0%) – 1.0% 3.5% – 4.5% Fuel Price per Gallon (2) $4.64 $3.95 Adjusted Operating Margin (1) - (4.5%) – (6.5%) Interest Expense - ~$590 million Capital Expenditures ~$300 million ~$850 million (3)
The JetBlue Way Forward | Our Strategic Evolution | Returning to Historical Earnings Power JetForward and Long-Term Vision 13
14 Recall: JetForward Continues to Build and Further Compounds Beyond 2027 Driving Path to at Least $1.00 EPS in 2028 2027 JetForward target $850M-$950M annual incremental EBIT vs. 2024 + Existing JetForward initiatives continue ramping, led by BlueFirstTM +$300M incremental EBIT vs. 2027 = BlueFirstTM is the largest incremental earnings driver: Launches 2H26 | Majority of retrofits completed in 2027 | Earnings continue building meaningfully in 2028 BlueFirstTM expected to drive ~5 pts of RASM improvement in steady state 2027 & 2028 Financial Profile Mid-single-digit annual RASM growth 2028 JetForward target ~$1.2B resulting in at least $1.00 EPS (1) Low-single-digit annual CASM ex-fuel growth Supports free cash flow generation and balance sheet deleveraging (1) As stated in July earnings, assumes continued demand strength and an average $3.00 per gallon jet fuel price in 2028. Revenue performance reinforces our confidence that this target is achievable. Low-to-mid- single-digit annual ASM growth
15 Margin Expansion and Disciplined Capex Support Future Free Cash Flow and Deleveraging Long-Term Financial Priorities 25 Deliver Positive Operating Margin in 2027 1 Achieve Positive Free Cash Flow Strengthen Balance Sheet 32 15 (1) At September 30, 2026, we had $2.2 billion in liquidity, which includes $1.6 billion in unrestricted cash, cash equivalents, and investment securities and our $600 million undrawn revolving credit facility with Citibank. (2) We expect an additional $250 million in aircraft-backed financing to fund in the fourth quarter. Adjusted Operating Margin Progression 1 to 2 points 4Q26 operating margin improvement YoY RASM growth > CASM ex-fuel growth Supporting further underlying margin expansion in 2027–28 Improving Earnings and Disciplined Capex Expected free cash flow inflection End of 2027 and into 2028 <$1B Annual capex through end of decade Preserve Financial Flexibility; Delever as Free Cash Flow Improves ~$2.2B Healthy liquidity (1) (2) ~$7B Unencumbered assets provide additional financing flexibility
Appendix 16
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 not presented in accordance with GAAP. We present these non-GAAP financial measures because we believe they provide useful supplemental information that enables a meaningful comparison of our results to others in the airline industry and our prior year results. Investors should consider these non-GAAP financial measures in addition to, and not as a substitute for, our financial performance measures prepared in accordance with GAAP. Further, our non-GAAP information may be different from the non-GAAP information provided by other companies. This Presentation includes an explanation of each non-GAAP financial measure presented in this Presentation and a reconciliation of certain non-GAAP financial measures used in this Presentation to the most directly comparable GAAP financial measures. With respect to JetBlue's CASM Ex-Fuel (1) and Adjusted Operating Margin (2) guidance, JetBlue is not able to provide a reconciliation of forward-looking measures where the quantification of certain excluded items reflected in the measures cannot be calculated or predicted at this time without unreasonable efforts. In these cases, the reconciling information that is unavailable includes a forward-looking range of financial performance measures beyond our control, such as fuel costs, which are subject to many economic and political factors beyond our control. For the same reasons, we are unable to address the probable significance of the unavailable information, which could have a potentially unpredictable and potentially significant impact on our future GAAP financial results. (1) CASM Ex-Fuel is a non-GAAP measure that excludes fuel, other non-airline operating expenses, and special items. (2) Adjusted Operating Margin is a non-GAAP measure that excludes special items. Appendix A 17
Operating Expenses, excluding Fuel, Other Non-Airline Operating Expenses, and Special Items ("Operating Expenses ex-fuel") and Operating Expense ex-fuel per Available Seat Mile ("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. We exclude aircraft fuel, operating expenses related to other non-airline businesses, such as Paisly and JetBlue Technology Ventures (JBV), and special items from total operating expenses to determine Operating Expenses ex-fuel, which is a non-GAAP financial measure, and we exclude the same items from CASM to determine CASM ex- fuel, which is also a non-GAAP financial measure. We believe the impact of these special items distorts our overall trends and that our metrics are more comparable with the presentation of our results excluding such impact. We believe Operating Expenses ex-fuel and CASM ex-fuel are useful for investors because they provide investors the ability to measure our financial performance excluding items that are beyond our control, such as fuel costs, which are subject to many economic and political factors, as well as items that are not related to the generation of an available seat mile, such as operating expense related to certain non-airline businesses and special items. We believe these non-GAAP measures are more indicative of our ability to manage airline costs and are more comparable to measures reported by other major airlines. For each of the three and nine months ended September 30, 2026, special items included an adjustment to litigation reserves. For each of the three and nine months ended September 30, 2025, special items included severance expenses and other special items. The table below provides a reconciliation of our total operating expenses (GAAP measure) to Operating Expenses ex-fuel, and our CASM to CASM ex-fuel for the periods presented. NON-GAAP FINANCIAL MEASURE RECONCILIATION OF OPERATING EXPENSE AND OPERATING EXPENSE PER ASM (CASM), EXCLUDING FUEL (unaudited) Three Months Ended September 30, Nine Months Ended September 30, $ Cents per ASM $ Cents per ASM (in millions; per ASM data in cents; percent changes based on unrounded numbers) 2026 2025 Percent Change 2026 2025 Percent Change 2026 2025 Percent Change 2026 2025 Percent Change Total operating expenses $ 2,956 $ 2,422 22.1 17.12 14.34 19.4 $ 8,258 $ 7,086 16.5 16.59 14.42 15.0 Less: Aircraft fuel 868 539 61.0 5.03 3.19 57.5 2,352 1,554 51.4 4.73 3.16 49.4 Other non-airline expenses 20 18 12.6 0.12 0.10 10.1 56 50 12.1 0.10 0.10 10.6 Special items 33 5 NM (1) 0.19 0.03 NM 33 29 17.2 0.07 0.06 15.7 Operating expenses, excluding fuel $ 2,035 $ 1,860 9.4 11.78 11.02 7.0 $ 5,817 $ 5,453 6.7 11.69 11.10 5.3 (1) Not meaningful or greater than 100% change. 18
Operating Expense, Operating Loss, Operating Margin, Pre-tax Loss, Pre-tax Margin, Net Loss and Loss per Share, excluding Special Items and Gain on Investments For each of the three and nine months ended September 30, 2026, special items included an adjustment to litigation reserves. For each of the three and nine months ended September 30, 2025, special items included severance expenses and other special items. Certain gains on our investments, net were also excluded from our September 30, 2026 and 2025 non-GAAP results. We believe the impact of these items distort our overall trends and that our metrics are more comparable with the presentation of our results excluding the impact of these items. The table below provides a reconciliation of our GAAP reported amounts to the non-GAAP amounts excluding the impact of these items for the periods presented. NON-GAAP FINANCIAL MEASURE RECONCILIATION OF OPERATING EXPENSE, OPERATING LOSS, OPERATING MARGIN, PRE-TAX LOSS, PRE-TAX MARGIN, NET LOSS, LOSS PER SHARE, EXCLUDING SPECIAL ITEMS AND GAIN ON INVESTMENTS (unaudited) Three Months Ended September 30, Nine Months Ended September 30, (in millions except percentages) 2026 2025 2026 2025 Total operating revenues $ 2,812 $ 2,322 $ 7,749 $ 6,818 RECONCILIATION OF OPERATING EXPENSE Total operating expenses $ 2,956 $ 2,422 $ 8,258 $ 7,086 Less: Special items 33 5 33 29 Total operating expenses excluding special items $ 2,923 $ 2,417 $ 8,225 $ 7,057 Percent change 20.9 % 16.5 % RECONCILIATION OF OPERATING LOSS Operating loss $ (144) $ (100) $ (509) $ (268) Add back: Special items 33 5 33 29 Operating loss excluding special items $ (111) $ (95) $ (476) $ (239) RECONCILIATION OF OPERATING MARGIN Operating margin (5.1)% (4.3)% (6.6)% (3.9)% Operating loss excluding special items $ (111) $ (95) $ (476) $ (239) Total operating revenues 2,812 2,322 7,749 6,818 Adjusted operating margin (3.9)% (4.1)% (6.1)% (3.5)% RECONCILIATION OF PRE-TAX LOSS Loss before income taxes $ (270) $ (196) $ (877) $ (561) Add back: Special items 33 5 33 29 Less: Gain on investments, net — 8 4 12 Loss before income taxes excluding special items and gain on investments $ (237) $ (199) $ (848) $ (544) RECONCILIATION OF PRE-TAX MARGIN Pre-tax margin (9.6)% (8.4)% (11.3)% (8.2)% Loss before income taxes excluding special items and gain on investments $ (237) $ (199) $ (848) $ (544) Total operating revenues 2,812 2,322 7,749 6,818 Adjusted pre-tax margin (8.5)% (8.6)% (10.9)% (8.0)% RECONCILIATION OF NET LOSS Net loss $ (257) $ (143) $ (823) $ (425) Add back: Special items 33 5 33 29 Less: Income tax benefit related to special items 1 — 1 7 Less: Gain on investments, net — 8 4 12 Less: Income tax benefit (expense) related to gain on investments, net 1 (2) — (3) Net loss excluding special items and gain on investments $ (226) $ (144) $ (795) $ (412) 19
Operating Expense, Operating Loss, Operating Margin, Pre-tax Loss, Pre-tax Margin, Net Loss and Loss per Share, excluding Special Items and Gain on Investments (continued) For each of the three and nine months ended September 30, 2026, special items included an adjustment to litigation reserves. For each of the three and nine months ended September 30, 2025, special items included severance expenses and other special items. Certain gains on our investments, net were also excluded from our September 30, 2026 and 2025 non-GAAP results. We believe the impact of these items distort our overall trends and that our metrics are more comparable with the presentation of our results excluding the impact of these items. The table below provides a reconciliation of our GAAP reported amounts to the non-GAAP amounts excluding the impact of these items for the periods presented. NON-GAAP FINANCIAL MEASURE RECONCILIATION OF OPERATING EXPENSE, OPERATING LOSS, OPERATING MARGIN, PRE-TAX LOSS, PRE-TAX MARGIN, NET LOSS, LOSS PER SHARE, EXCLUDING SPECIAL ITEMS AND GAIN ON INVESTMENTS (unaudited) Three Months Ended September 30, Nine Months Ended September 30, CALCULATION OF LOSS PER SHARE 2026 2025 2026 2025 Loss per common share Basic $ (0.68) $ (0.39) $ (2.20) $ (1.18) Add back: Special items 0.09 0.01 0.09 0.08 Less: Income tax benefit related to special items 0.01 — — 0.02 Less: Gain on investments, net — 0.02 0.01 0.04 Less: Income tax expense related to gain on investments, net — — — (0.01) Basic excluding special items and gain on investments $ (0.60) $ (0.40) $ (2.12) $ (1.15) Diluted $ (0.68) $ (0.39) $ (2.20) $ (1.18) Add back: Special items 0.09 0.01 0.09 0.08 Less: Income tax benefit related to special items 0.01 — — 0.02 Less: Gain on investments, net — 0.02 0.01 0.04 Less: Income tax expense related to gain on investments, net — — — (0.01) Diluted excluding special items and gain on investments $ (0.60) $ (0.40) $ (2.12) $ (1.15) 20
Aircraft Deliveries (1) A220 A321neo (2) Total (3) 2026 (4) 12 - 12 2027 7 - 7 2028 9 - 9 2029 10 - 10 2030 2 2 4 Thereafter 1 42 43 (1) Aircraft delivery timing and related committed expenditures are based on contractual schedules, adjusted for management's current expectations and recent communications from Airbus regarding delivery delays. Actual timing may differ due to production schedules, supply chain constraints, contractual modifications, regulatory matters and other factors. (2) Excludes one Airbus A321neo XLR, which JetBlue expects to sell. (3) In addition, we have options to purchase 20 A220-300 aircraft from 2028 through 2030. (4) Includes eight aircraft delivered in 2026 as of September 30th. JetBlue’s contractual aircraft deliveries for full year as of September 30, 2026: Appendix B: Order Book 21
