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JBLU

JetBlue Airways Corporation

JBLU

JetBlue Airways Corporation • NASDAQ
$4.57 ▲ 1.11% (+0.05)
Market Cap $1.66 B
52w High $8.31
52w Low $3.34
Dividend Yield 0%
P/E -3.52
Volume 5.71M
Outstanding Shares 363.71M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $2.322B ▼ $1.147B ▲ $-143M ▼ -6.158% ▼ $-0.39 ▼ $121M ▼
Q2-2025 $2.356B ▲ $605M ▲ $-74M ▲ -3.141% ▲ $-0.2 ▲ $201M ▲
Q1-2025 $2.14B ▼ $571M ▼ $-208M ▼ -9.72% ▼ $-0.59 ▼ $-6M ▼
Q4-2024 $2.277B ▼ $578M ▼ $-44M ▲ -1.932% ▲ $-0.13 ▲ $113M ▼
Q3-2024 $2.365B $635M $-60M -2.537% $-0.17 $154M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $2.621B ▼ $16.601B ▼ $14.331B ▼ $2.27B ▼
Q2-2025 $3.064B ▼ $16.903B ▼ $14.495B ▼ $2.408B ▼
Q1-2025 $3.502B ▼ $17.101B ▲ $14.656B ▲ $2.445B ▼
Q4-2024 $3.61B ▼ $16.841B ▲ $14.2B ▲ $2.641B ▼
Q3-2024 $4.008B $16.627B $13.983B $2.644B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-143M ▼ $-142M ▼ $532M ▲ $-111M ▲ $279M ▲ $-423M ▼
Q2-2025 $-74M ▲ $-115M ▼ $72M ▼ $-120M ▼ $-163M ▼ $-234M ▼
Q1-2025 $-208M ▼ $114M ▲ $357M ▲ $-86M ▼ $385M ▲ $-63M ▲
Q4-2024 $-44M ▲ $-17M ▲ $-915M ▲ $279M ▼ $-653M ▼ $-434M ▼
Q3-2024 $-60M $-29M $-1.497B $2.881B $1.355B $-314M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Passenger
Passenger
 $4.15Bn ▲$1.97Bn ▼$2.18Bn ▲$2.13Bn ▼
Product and Service Other
Product and Service Other
 $330.00M ▲$170.00M ▼$180.00M ▲$190.00M ▲

Five-Year Company Overview

Income Statement

Income Statement JetBlue’s revenue has largely recovered from the pandemic shock and is now back in a healthy range, but it has stalled rather than growing meaningfully. The top line is roughly flat over the last three years. The bigger issue is profitability. Despite solid gross profit, the airline has reported operating losses every year in this five‑year window and has not delivered a net profit since before 2020. Losses narrowed after the worst of the pandemic but then widened again in the most recent year, signaling that costs such as labor, fuel, congestion, and disruptions are still outweighing pricing power and efficiency gains. Overall, this is a business with decent revenue scale but structurally thin margins, where cost control and operational reliability remain the critical swing factors between loss and break‑even or better.

Balance Sheet

Balance Sheet JetBlue’s asset base has grown, largely driven by its aircraft and related equipment, showing continued investment in the fleet and operations. Cash on hand has also improved recently compared with some prior years, giving the airline a bit more liquidity cushion. The main concern is leverage. Debt has climbed meaningfully over this period, faster than assets and far faster than equity. At the same time, shareholders’ equity has been eroding as repeated losses accumulate, shrinking the company’s buffer against shocks. In plain terms, the balance sheet has become more stretched: the company is more indebted and has less equity support than a few years ago. This raises sensitivity to interest costs, credit conditions, and any prolonged downturn in demand or profitability.

Cash Flow

Cash Flow JetBlue’s cash flow from operations has turned positive after the worst of the pandemic, but it is not consistently strong. Recent operating cash inflows are modest relative to the size of the business, leaving limited room to comfortably fund big investments and debt service at the same time. Capital spending has been heavy and steady, largely for aircraft and related projects. Because of this, free cash flow has been negative in most of the past five years, with only a brief positive year when demand first snapped back. Practically, this means the company has had to lean on borrowing and its cash reserves to fund its fleet and growth plans. The business is still in an investment and recovery mode rather than a self‑funding, cash‑generative phase.

Competitive Edge

Competitive Edge JetBlue occupies a middle ground between ultra‑low‑cost carriers and the large legacy airlines. Its brand is built around a more comfortable and tech‑friendly experience at relatively attractive fares, especially on key transcontinental and leisure routes. It has strong recognition and customer loyalty, particularly in the Northeast and at New York’s JFK, which gives it some local strength and pricing support. Products like Mint premium cabins, free high‑speed Wi‑Fi, and solid service scores help differentiate it from bare‑bones competitors. However, the airline is smaller and less diversified than the “Big Four” U.S. carriers and does not have the absolute cost base of ultra‑low‑cost rivals. The collapsed Spirit merger removed a shortcut to greater scale. As a result, JetBlue faces pressure from both ends: larger network carriers with more resources and low‑cost players that can undercut on price. Its competitive position rests heavily on maintaining service quality and loyalty while gaining efficiency.

Innovation and R&D

Innovation and R&D For an airline, JetBlue is notably active on the innovation front. It has invested in personalization technology for inflight entertainment, aiming to make the onboard experience feel more like a streaming platform, with recommendations and continuity across trips. Behind the scenes, the company is pushing into artificial intelligence and data analytics to improve pricing, maintenance, crew and fleet scheduling, and customer service. Efforts like its “digital twin” operations model and connected aircraft technology are designed to cut delays, optimize fuel use, and lower maintenance surprises. Through JetBlue Technology Ventures, the airline also invests in travel and sustainability startups, signaling a long‑term interest in greener aviation and new revenue models. The strategic risk is that these initiatives may take time to translate into clear financial gains, but they do reinforce JetBlue’s reputation as a more innovative and customer‑centric airline than many peers.

Summary

JetBlue today looks like a differentiated, customer‑focused airline that is still working through a difficult financial reset. Revenue has largely recovered, but profits have not, and losses have persisted longer than many would like. The balance sheet shows higher debt and thinner equity, while cash flow remains weighed down by necessary fleet and infrastructure investments. On the positive side, the company has a strong brand in its core markets, a product that many travelers perceive as a step above basic low‑cost offerings, and an unusually active approach to technology and innovation for an airline. These features offer potential pathways to better efficiency and higher revenue quality over time. The key questions for observers are whether JetBlue’s “JetForward” strategy, cost discipline, and tech investments can turn its service strengths into durable profitability, and whether it can manage its higher leverage through the ups and downs of the aviation cycle. The story is less about growth at any cost and more about proving that its hybrid, customer‑centric model can reliably earn its way back into the black.

NEWS

November 20, 2025 · 9:00 AM UTC

JetBlue Expands Industry-Leading Gateway Programs With New Pathway for Aspiring Aircraft Maintenance Technicians

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November 19, 2025 · 11:04 AM UTC

JetBlue Announces New Service from Boston to Barcelona and Milan

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November 12, 2025 · 9:09 AM UTC

JetBlue to Launch Nonstop Service Between Rochester and Orlando

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November 6, 2025 · 8:59 AM UTC

Flying Even Further in Florida: JetBlue Announces New Service to the Emerald Coast

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November 5, 2025 · 9:27 AM UTC

Paisly Expands Cruise Portfolio, New Luxury Partners Now Available Through JetBlue Vacations

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