JetBlue reported a second-quarter net loss of $74 million, or $0.21 per share, on an operating revenue of $2.4bn - a 3% decline on 2024.
The company attributed this operating revenue drop to reduced system capacity and ongoing pricing pressures. System capacity fell 1.5% on the same period of the 2024.
"Despite facing an uncertain economic backdrop, we met or exceeded our financial targets, delivering a modest operating profit for the quarter,” said Joanna Geraghty, JetBlue's chief executive officer.
In April, JetBlue joined other US carriers in pulling its 2025 financial forecast, citing uncertainty caused by the Trump administration's sweeping tariff policies
“The momentum we have built since launching our multi-year strategy last summer reinforces our conviction that JetForward is the right plan to return JetBlue to sustained profitability,” Geraghty added.
Total operating expenses stood at $2.4bn, down 0.9% from a year earlier. Excluding special items, operating expenses were $2.3bn, reflecting a 1.9% decline on last year. The airline reported a narrow operating margin of 0.3% for the quarter, while its adjusted operating margin was 1.3%.
Cost per available seat mile (CASM) rose 0.6%. CASM excluding fuel, non-airline expenses, and special items (CASM ex-Fuel) increased 6%.
The average fuel price during the quarter was $2.40 per gallon.
"Demand for air travel improved as the quarter progressed, resulting in significant strength for bookings within 14-days of travel, as well as for peak travel periods," said Marty St. George, JetBlue's president. "We are encouraged to see that momentum carry into July and, we are optimistic that demand will continue to improve through the end of the year."
The airline added that as demand improves, it remains focused on cost discipline, despite capacity running 1.5 points below initial guidance, JetBlue said it is reinstating original full-year unit cost outlook - highlighting the strength of operations and cost-efficiency programs.
These results come on the same day that the airline was cleared by the US Department of Transportation (DOT) to proceed with their planned partnership with United Airlines.
The new "Blue Sky" deal will allow customers to purchase flights on both airlines through either carrier’s website or app. The partnership includes an interline agreement, rather than a codeshare, meaning each airline will continue to sell and market its own flights independently.
As part of the deal, JetBlue will provide United with access to slots at JFK International Airport, enabling United to launch up to seven daily round-trip flights out of JFK’s Terminal 6 from as early as 2027. The airlines have also agreed to exchange eight flight timings at Newark Liberty International Airport as part of a net-neutral adjustment.
JetBlue and United said that Blue Sky would begin introducing new customer benefits starting in fall 2025, rolling them out in phases.