JetBlue Airways reported fourth-quarter and full-year 2025 results, highlighting progress under its JetForward turnaround programme while remaining unprofitable amid a challenging operating environment.
The carrier generated $305 million of incremental EBIT from JetForward in 2025, exceeding its original target of $290 million, and said it is on track to deliver $850–$950 million of cumulative incremental EBIT by 2027. For 2026, JetBlue is targeting a further $310 million of incremental EBIT.
Fourth-quarter operating revenue was $2.2 billion, down 1.5% year-on-year, with capacity falling 1.6%. RASM rose 0.2%, outperforming guidance, while CASM excluding fuel increased 6.7%. Full-year operating revenue declined 2.3% to $9.1 billion, with RASM down 0.7% and CASM down 3.8%.
JetBlue ended the year with $2.5 billion of liquidity and said it expects breakeven or better operating margins in 2026. For the first quarter, the airline forecasts capacity growth of 0.5% to 3.5% and RASM growth of up to 4%.
The airline also confirmed progress on its Blue Sky partnership with United Airlines and continued fleet simplification, including the sale of its remaining Embraer E190 aircraft.