Highlights

  • Third quarter 2026 net loss was $257 million, or $0.68 per share, compared with a net loss of $143 million.
  • Operating revenue for the third quarter was $2.8 billion, and the operating loss was $144 million.
  • Average fuel cost per gallon was $3.91 in the third quarter, compared with $2.49 a year earlier.
  • Liquidity at September 30, 2026 was $2.2 billion, including $1.6 billion of unrestricted cash, cash equivalents and investment securities.

JetBlue Airways Corporation (NASDAQ: JBLU) shares were trading at USD 2.83 on October 27, 2026, up 19.20%, with a relative volume at time of 2.33. The airline entered into supplemental agreements with International Aero Engines on July 27, 2026, completed the acquisition of 22 LaGuardia Airport slots in October 2026, and filed its quarterly report for the period ended September 30, 2026 on October 26, 2026.

JetBlue Airways Corporation is incorporated in Delaware, and its principal executive offices are at 27-01 Queens Plaza North in Long Island City, New York. It operates a passenger airline focused on leisure, visiting-friends-and-relatives and transcontinental routes in New York, New England, Florida and Puerto Rico. The company reported an average of 19,882 full-time equivalent crewmembers for the third quarter of 2026, and 49% of active full-time equivalent crewmembers were represented by labor unions. Its fiscal year ends December 31.

Third Quarter 2026 Results

The Form 10-Q for the quarter ended September 30, 2026 reports unaudited results. JetBlue reported a net loss of $257 million, an operating loss of $144 million and an operating margin of (5.1)%. The comparable 2025 figures were a net loss of $143 million, an operating loss of $100 million and an operating margin of (4.3)%. The loss per share was $0.68, compared with $0.39.

Operating revenue was $2.8 billion, a 21.1% increase from a year earlier, including passenger revenue of $2,600 million. Operating expense was $3.0 billion, a 22.1% increase, and system capacity increased 2.3%.

The company attributed the increase in operating loss primarily to higher fuel prices, with average fuel price per gallon up 57.4%. It also cited severe weather and air traffic control constraints in its core Northeast markets. On a non-GAAP basis, the adjusted net loss was $226 million, the adjusted operating margin was (3.9)% and the adjusted loss per share was $0.60.

For the nine months ended September 30, 2026, the net loss was $823 million, or $2.20 per share, compared with a net loss of $425 million, or $1.18 per share.

Liquidity, Debt and Fleet

At September 30, 2026, JetBlue had $2.2 billion in liquidity, which included $1.6 billion in unrestricted cash, cash equivalents and investment securities and a $600 million undrawn Citibank line of credit. The company stated that it believes this will be sufficient for at least the next 12 months from the date of the report.

On April 1, 2026, the company paid in full its 0.50% convertible senior notes due 2026, including $325 million of principal. On April 14, 2026, it entered into an agreement for up to $500 million of debt financing secured by owned aircraft, and it had borrowed $500 million as of September 30, 2026. The agreement provides for $250 million in incremental financing, which the company expects to fund in the fourth quarter of 2026.

On July 27, 2026, JetBlue entered into supplemental support agreements with International Aero Engines related to PW1100G and PW1500G engine disruptions and received credits of up to $105 million for future purchases through December 31, 2027. As of September 30, 2026, two aircraft were grounded due to lack of engine availability, and the company expects that number to remain in the single digits for the remainder of 2026.

Outlook and Stated Plans

The filing does not give numerical earnings guidance for the fourth quarter or full year. Management said it remains on track to achieve its 2026 JetForward targets and focused on returning to sustained operating profitability in 2027. It said annual capital expenditures are expected to remain below $1 billion through the end of the decade.

The company said BlueFirst, its domestic first-class product, is available for sale across more than 30 routes, with service expected to begin in December 2026 between Boston and Fort Lauderdale. The filing states that issuing additional shares of capital stock may dilute existing stockholders.