JetBlue earnings showed a wider third-quarter loss in 2026 as fuel costs rose, although the airline said strong demand and higher fares helped offset some of the increase.
Key Takeaways
- JetBlue reported a $257 million net loss for the quarter, compared with $143 million a year earlier.
- The airline expects revenue per available seat mile to rise as much as 22% in the fourth quarter.
JetBlue earnings and fuel costs
The loss for the three months ended September 30 came as JetBlue’s fuel bill rose 61% to $868 million. Average fares climbed more than 19% to $245.11 from $205.67 a year earlier.
Chief Executive Joanna Geraghty said resilient demand and strong yields pushed revenue well ahead of the airline’s initial expectations, allowing it to recover more of the increase in fuel costs than anticipated.
| Item | Details |
|---|---|
| Adjusted loss per share | 60 cents reported; 55 cents expected |
| Third-quarter revenue | $2.81 billion reported; $2.82 billion expected |
Revenue outlook and liquidity
For the fourth quarter, JetBlue forecast that revenue per available seat mile would rise by as much as 22%. It expects the measure, which tracks operating revenue generated for each seat flown one mile, to increase 13.5% to 14.5% for the full year.
The airline ended the third quarter with $2.2 billion in liquidity and $8.4 billion in total debt. Its unencumbered asset base stood at $7 billion, including $2.8 billion in aircraft and engines.
Chief Financial Officer Ursula Hurley said JetBlue believes it has the liquidity and financing options to bridge its operations to at least $1 in earnings per share and positive free cash flow in 2028. Those are future objectives, not reported results.
Turnaround remains underway
JetBlue last reported an annual profit in 2019. Its multiyear turnaround includes efforts to increase revenue through premium seating, including a domestic first-class section that recently went on sale.
Geraghty said the revenue momentum had carried into the fourth quarter and that Fort Lauderdale continued to deliver strong results even as the airline significantly expanded capacity there.
Next milestone
JetBlue executives are scheduled to discuss the results with analysts on Tuesday at 10 a.m. Eastern time.
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