[8-K] JetBlue Airways Corp Reports Material Event

Rhea-AI Filing Summary

JetBlue reports that demand for air travel stayed strong through the summer peak and into August and Labor Day, with particularly robust bookings within 14 days of travel. The company says improved operational reliability in August helped revenue outperform expectations and that non-fuel unit costs benefited from better operations and ongoing cost initiatives. JetBlue notes fuel prices have fallen since its prior guidance, which reduces projected operating expenses. The filing updates investor guidance for the quarter ending September 30, 2025, but the referenced guidance table is not included in the provided text. The company reiterates standard forward-looking statement cautions.

Positive

• Strong summer demand continuing into August and Labor Day, with bookings concentrated within 14 days of travel
• Improved operational performance in August that contributed to better-than-expected revenue
• Non-fuel unit costs benefited from operational improvements and cost initiatives
• Fuel prices declined since the prior guidance, reducing projected operating expenses

Negative

• Updated guidance table is referenced but not included in the provided content, limiting transparency
• CASM Ex-Fuel forward-looking reconciliation is unavailable because excluded items (e.g., fuel) cannot be reliably quantified
• Standard forward-looking statement risks reiterated, indicating outcomes may differ materially from expectations

Insights

Financial Analyst

TL;DR: Operational improvement and lower fuel view support nearer-term margin relief, but guidance detail is missing.

JetBlue emphasizes stronger-than-expected summer and August demand and better operational performance that helped revenue and lowered non-fuel unit costs. Lower fuel prices versus the prior update are noted as a tailwind to operating expenses. However, the filing references an updated guidance table that is not present in the supplied content, and the company warns that its CASM Ex-Fuel forward-looking reconciliation cannot be provided due to unpredictable excluded items. For investors, the key takeaway is improved operating trends but limited transparency on quantified guidance and non-GAAP reconciliations.

Airline Industry Specialist

TL;DR: Summer demand and operational stability are constructive, but material guidance specifics are absent.

JetBlue reports that peak-season bookings and reliability gains in August improved near-term revenue performance and helped reduce non-fuel unit costs. Declining fuel prices since the prior guidance are cited as further reducing expense pressure. The company discloses limitations in providing a reconciliation for forward-looking CASM Ex-Fuel, noting fuel and other factors are unpredictable. The narrative suggests positive operational momentum, yet the lack of the actual guidance table prevents assessing magnitude or materiality.

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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): September 4, 2025

JETBLUE AIRWAYS CORPORATION

(Exact name of registrant as specified in its charter)

Delaware			000-49728						87-0617894
(State or other jurisdiction of incorporation)			(Commission File Number)						(I.R.S. Employer Identification No.)
27-01 Queens Plaza North			Long Island City			New York			11101
(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:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trading Symbol			Name of each exchange on which registered
Common Stock, $0.01 par value			JBLU			The NASDAQ Stock Market LLC

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 7.01 Regulation FD Disclosure.

JetBlue Airways Corporation ("JetBlue" or the "Company") announced today an operational and financial update of its expected third quarter 2025 results.

Demand for air travel remained strong throughout the summer peak. Momentum from earlier in the summer carried forward into August and through the Labor Day holiday, both of which were marked by strength for bookings within 14-days of travel. As JetBlue continues to focus on improving reliability, strong operational performance in August contributed to better-than-expected revenue performance. For the fourth quarter, while it is early in the booking curve, JetBlue remains encouraged that current trends may carry-forward through year-end.

JetBlue's non-fuel unit costs benefitted from strong August operational performance and continued execution on cost initiatives. Additionally, fuel prices have declined since the previous guidance update, further improving projected operating expenses.

The table below provides JetBlue's updated investor guidance for the third quarter ending September 30, 2025.

Third Quarter 2025 Outlook			Current Guidance			Previous Guidance (1)
Capacity and Revenue
Available Seat Miles ("ASMs") Year-Over-Year			0.0% - 1.0%			(1.0%) - 2.0%
Operating Revenue per ASM ("RASM") Year-Over-Year			(4.0%) - (1.5%)			(6.0%) - (2.0%)
Expense
CASM Ex-Fuel (2), (3) Year-Over-Year			3.5% - 5.5%			4.0% - 6.0%
Fuel Price per Gallon (4), (5)			$2.45 - $2.55			$2.50 - $2.65
Capital Expenditures			~$325 million			~$375 million

(1) Previous guidance as of July 29, 2025.

(2) Operating expense per available seat mile, excluding fuel, other non-airline operating expenses and special items. Non-GAAP financial measure; refer to Note A for further details on non-GAAP forward looking information.

(3) Guidance does not include potential impacts from tariffs.

(4) Includes fuel taxes and other fuel fees.

(5) JetBlue utilizes the forward Brent crude curve and the forward Brent crude to jet crack spread to calculate fuel price for the current quarter. Fuel price is based on forward curve as of August 29, 2025.

Forward Looking Information

This Current Report on Form 8-K 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 and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts contained in this Current Report on Form 8-K 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 Current Report on Form 8-K include, without limitation, statements regarding our outlook and future results of operations and financial position. 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 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 imposed on commercial aircraft and related parts imported from outside the United States; the outcome of legal proceedings with respect to the NEA and our wind-down of the NEA; risks associated with stockholder activism; risk associated with cybersecurity and privacy, including 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; risks associated with our development and use of AI-powered solutions; risk 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 budget constraints or federally imposed furloughs; impact of global climate change and legal, regulatory or market response to such change; increasing scrutiny of, and evolving expectations regarding, environmental and social 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 Current Report on Form 8-K, 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, 2024, as may be updated by our other SEC filings. In light of these risks and uncertainties, the forward-looking events discussed in this Current Report on Form 8-K might not occur. Our forward-looking statements speak only as of the date of this Current Report on Form 8-K. 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.

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 Current Report on Form 8-K. 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 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.

With respect to JetBlue's CASM Ex-Fuel(1) guidance, we are 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.

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:

September 4, 2025

By:

/s/ Dawn Southerton

Dawn Southerton

Vice President, Controller

(Principal Accounting Officer)

FAQ

What operational trends did JetBlue (JBLU) report for the summer and August 2025?

JetBlue reported strong demand throughout the summer that carried into August and Labor Day, with strong bookings within 14 days of travel and improved operational reliability in August.

Did JetBlue update its guidance for the quarter ending September 30, 2025?

The filing states it provides updated investor guidance for the third quarter ending September 30, 2025, but the actual guidance table is not included in the provided text.

How did JetBlue say costs and fuel trends changed since the prior guidance?

JetBlue said non-fuel unit costs benefited from better operational performance and cost initiatives, and that fuel prices have declined since the previous guidance, improving projected operating expenses.

Can JetBlue reconcile its forward-looking CASM Ex-Fuel metric?

No. The company states it is unable to provide a reconciliation of forward-looking CASM Ex-Fuel because certain excluded items, such as future fuel costs, cannot be reasonably predicted.

Are there risks noted related to the forward-looking statements in the filing?

Yes. The filing reiterates that forward-looking statements involve risks and uncertainties and may differ materially from actual results.