--- title: "Jetblue Airways | 8-K: FY2026 Q2 Revenue Misses Estimate at USD 2.697 B" type: "News" locale: "en" url: "https://longbridge.com/en/news/294054858.md" datetime: "2026-07-28T11:06:44.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/294054858.md) - [en](https://longbridge.com/en/news/294054858.md) - [zh-HK](https://longbridge.com/zh-HK/news/294054858.md) --- # Jetblue Airways | 8-K: FY2026 Q2 Revenue Misses Estimate at USD 2.697 B Revenue: As of FY2026 Q2, the actual value is USD 2.697 B, missing the estimate of USD 2.701 B. EPS: As of FY2026 Q2, the actual value is USD -0.66, beating the estimate of USD -0.67. EBIT: As of FY2026 Q2, the actual value is USD -124 M. ### Second Quarter 2026 Financial Results #### Revenue JetBlue Airways Corporation reported total operating revenues of $2,697 million for the second quarter of 2026, an increase of 14.5% year-over-year compared to $2,356 million in the second quarter of 2025. Passenger revenue was $2,487 million, up 14.1% from $2,179 million in the prior year, while other revenue increased by 18.6% to $210 million from $177 million. Operating revenue per available seat mile (RASM) increased by 10.9% year-over-year, outperforming revised guidance. Premium RASM saw an approximate 13% increase, complemented by 11% Main Cabin RASM growth. Loyalty revenue grew by 13% year-over-year. Fort Lauderdale (FLL) delivered 11% RASM on nearly 40% year-over-year capacity growth. #### Operational Metrics Total operating expenses for the second quarter of 2026 were $2,838 million, an increase of 20.8% from $2,350 million in the second quarter of 2025. Aircraft fuel expenses rose by 80.7% to $911 million from $504 million. Salaries, wages, and benefits increased by 2.7% to $875 million from $852 million. Landing fees and other rents were up 7.1% to $183 million, and depreciation and amortization increased by 6.9% to $183 million. Aircraft rent decreased by -23.7% to $15 million. Sales and marketing expenses grew by 14.9% to $88 million, while maintenance, materials, and repairs increased by 3.1% to $204 million. Other operating expenses rose by 13.4% to $379 million. Special items were $0 in Q2 2026, down from $24 million in Q2 2025. Other non-airline expenses were $18 million, up 10.1% from $16 million. Operating expenses, excluding fuel, were $1,909 million, an increase of 5.7% from $1,806 million. Operating loss for the second quarter of 2026 was - $141 million, compared to an operating income of $6 million in the second quarter of 2025. Operating loss excluding special items was - $141 million, compared to an operating income of $30 million in the prior year. The operating margin was -5.2%, a decrease of -5.5 percentage points from 0.3% in the prior year period. Adjusted operating margin was -5.2%, down from 1.3%. Net loss for the quarter was - $247 million, compared to - $74 million in the second quarter of 2025. Operating expense per available seat mile (CASM) increased by 17.0% year-over-year. CASM ex-Fuel increased by 2.4% year-over-year, which was 1.6 percentage points better than the revised guidance midpoint. System capacity (Available Seat Miles or ASMs) increased by 3.2% year-over-year. The average fuel price in the second quarter of 2026 was $4.23 per gallon, which was $1.83 higher year-over-year, representing an approximate 76% increase. JetBlue Airways Corporation recaptured nearly 50% of higher fuel costs in Q2. Key year-over-year operational metrics improved in Q2, with A14 (on-time arrival performance) increasing by approximately 1 point and Net Promoter Score (NPS) improving by 5 points. New premium card acquisitions grew by nearly 40%, and loyalty remuneration was 21% higher year-over-year. ### Financial Results for Six Months Ended June 30, 2026 Total operating expenses were $5,302 million, an increase of 13.7% from $4,664 million in the prior year. Aircraft fuel expenses were $1,484 million, an increase of 46.2% from $1,015 million. Other non-airline expenses were $36 million, up 11.8% from $32 million. Operating expenses, excluding fuel, were $3,782 million, an increase of 5.3% from $3,593 million. Operating loss was - $365 million, compared to - $168 million in the prior year. Operating loss excluding special items was - $365 million, compared to - $144 million in the prior year. Operating margin was -7.4%, down from -3.7%. Adjusted operating margin was -7.4%, down from -3.2%. Loss before income taxes was - $607 million, compared to - $365 million in the prior year. Net loss was - $566 million, compared to - $282 million in the prior year. ### Balance Sheet As of June 30, 2026, cash and cash equivalents totaled $1,656 million, down from $1,946 million at December 31, 2025. Total investment securities were $512 million, compared to $531 million at December 31, 2025. Total assets were $16,371 million, and total debt was $8,478 million. Stockholders’ equity stood at $1,587 million. #### Cash Flow Capital expenditures, including pre-delivery deposits, totaled $234 million in the second quarter of 2026 and $375 million for the six months ended June 30, 2026. #### Unique Metrics JetForward, JetBlue Airways Corporation’s transformation strategy, generated $470 million of cumulative incremental EBIT through June 2026. It remains on track to deliver $850 million to $950 million in annual incremental EBIT benefit by year-end 2027 and approximately $1.2 billion in annual incremental EBIT in 2028. JetForward is on track to deliver at least $310 million of incremental Earnings Before Interest and Taxes (EBIT) in 2026. #### Operating Fleet (as of June 30, 2026) JetBlue Airways Corporation’s operating fleet comprised 296 aircraft, including 129 Airbus A320, 102 Airbus A321, and 65 Airbus A220 aircraft. Four aircraft were temporarily removed from service due to Pratt & Whitney engine groundings but are expected to return to operation. #### Aircraft Deliveries (Contractual as of June 30, 2026) Expected aircraft deliveries include 12 A220 aircraft in 2026 (six already delivered year to date), 7 A220 aircraft in 2027, 11 A220 aircraft in 2028, and 10 A220 aircraft in 2029. In 2030, 1 A220 and 2 A321NEO aircraft are expected, with 42 A321NEO aircraft expected thereafter. JetBlue Airways Corporation also holds options to purchase 20 A220-300 aircraft between 2028 and 2030. #### Outlook / Guidance JetBlue Airways Corporation re-established its full-year 2026 outlook, expecting second-half operating margin to improve by approximately 3.5 points year-over-year and anticipating positive free cash flow generation and balance sheet deleveraging through the end of the decade. For the third quarter of 2026, the company projects ASMs to increase by 3.0% to 6.0% year-over-year, RASM to increase by 12.5% to 16.5% year-over-year, and CASM Ex-Fuel to increase by 2.5% to 4.5% year-over-year, with capital expenditures of approximately $300 million and an estimated fuel price of $3.49 per gallon. For the full year 2026, ASMs are expected to increase by 1.5% to 3.5% year-over-year, RASM by 10.0% to 12.5% year-over-year, and CASM Ex-Fuel by 2.0% to 4.0% year-over-year, with an adjusted operating margin between -2.0% and -5.0%, interest expense of approximately - $590 million, and capital expenditures of approximately $850 million, assuming a fuel price of $3.49 per gallon. The company also introduced a long-term financial target for 2028 earnings per share (EPS) of at least $1.00, supported by JetForward’s expected growth to approximately $1.2 billion of annual incremental EBIT by year-end 2028, assuming continued demand strength and an average $3.00 per gallon jet fuel price in 2028. ### Related Stocks - [JBLU.US](https://longbridge.com/en/quote/JBLU.US.md) ## Related News & Research - [JetBlue Chief Digital & Tech Officer Carol Ann Clements sells 2,000 shares for $11,500](https://longbridge.com/en/news/294739872.md) - [JetBlue BlueHouse™ Lounge at JFK Earns #1 in Newsweek’s Readers’ Choice™ Awards 2026 | JBLU Stock News](https://longbridge.com/en/news/294980295.md) - [JetBlue Q2 adjusted loss per share beats estimates](https://longbridge.com/en/news/294055740.md) - [Chimera declares Q3 2026 Series A preferred dividend of $0.5 a share](https://longbridge.com/en/news/294951609.md) - [VGP to host webcast on H1 2026 results](https://longbridge.com/en/news/295056101.md)