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JetBlue Reports Fourth Quarter 2024 Net Loss of $44 Million or $0.13 per Diluted Share

Joe Breitfeller

JetBlue has reported a fourth quarter 2024 net loss of $44 million or ($0.13) per diluted share on a year-over-year decline in revenue of 2.1 percent to $2.28 billion.  At December 31, 2024, the carrier had $4.5 billion in total available liquidity.


JetBlue Airbus A220-300 - Courtesy Airbus
JetBlue Airbus A220-300 - Courtesy Airbus

On Tuesday (January 28, 2025), JetBlue reported their fourth quarter and full year 2024 financial results.  The carrier reported a fourth quarter net loss of $44 million or ($0.13) per diluted share on a 2.1 percent year-over-year decline in revenue to $2.28 million.  JetBlue’s Q4 2024 revenue per available seat mile (RASM) increased 3.2 percent year-over-year to 14.11 cents, while cost per available seat mile (CASM) declined 0.4 percent compared to Q4 2023 to 14 cents. Costs excluding fuel (CASM-ex) increased 11.0 percent compared to the same period in the previous year to  10.76 cents.


In Tuesday’s announcement, JetBlue’s Chief Executive Officer, Joanna Geraghty, said,


“2024 was a year of rapid change for JetBlue as we introduced our refocused strategy, JetForward, setting us on a path to get back to profitability.  We finished the year strong, exceeding both revenue and cost expectations with operational reliability delivering for our customers throughout the holiday season.  I am proud of our crewmembers for navigating an immense amount of change and continuing to deliver exceptional service for our customers and our shareholders.


“Looking ahead to 2025, we are laser-focused on executing JetForward and building on the momentum from 2024.  While this year will not come without its challenges, our strategy is in place to tackle those obstacles head-on.  With a healthy revenue backdrop, continued cost control and incremental earnings from JetForward, we believe we are well-positioned to deliver on our goal of achieving a positive operating margin for the full year.”


JetBlue's Fourth Quarter and Full Year 2024 Financial Results - Courtesy JetBlue/Business Wire


For the full year 2024, JetBlue reported a net loss of $795 million or ($2.30) per diluted share on a year-over-year decline in revenue of 3.5 percent to $9.28 billion.  The carrier’s full year revenue per available seat mile (RASM) remained flat at 14.04 cents, while cost per available seat mile increased 4.9 percent to 15.08 cents.  Costs excluding fuel (CASM-ex) for the full year increased 6.6 percent to 10.55 cents.  At January 31, 2025, JetBlue had $3.9 billion in unrestricted cash, cash equivalents and long-term marketable securities, excluding a $600 million undrawn revolving credit facility.  


JetBlue is ‘New York’s Hometown Airline®’ and a leading carrier in Boston (BOS), Fort Lauderdale (FLL), Los Angeles (LAX), Orlando (MCO) and San Juan (SJU).  The airline carries guests to over 100 destinations across the U.S., Caribbean, Latin America, the UK (London Heathrow, London Gatwick, Edinburgh), Paris, Amsterdam and Dublin.  JetBlue Airways Corporation trades on the NASDAQ under the ticker symbol JBLU.


 

Source: JetBlue/Business Wire

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