JETBLUE AIRWAYS CORP (JBLU) Form 8-K — Oct 26, 2026
JetBlue reported Q3 2026 operating revenue of $2.8 billion, up 21.1% year-over-year, with RASM up 18.4% — well ahead of initial guidance — as higher yields and resilient demand let it recapture roughly 87% of higher fuel costs. Despite the revenue strength, the GAAP net loss widened to $257 million (EPS -$0.68 vs. -$0.39 a year ago) as average fuel prices rose 57% to $3.91 per gallon, and the operating margin slipped to -5.1%. Management guided 4Q26 RASM up 18-22% with 1-2 points of year-over-year adjusted operating margin expansion despite fuel forecast 85% higher, and reiterated targets of operating profitability in 2027 and at least $1.00 EPS with positive free cash flow in 2028.
Key figures
- Eps
- -0.68
- Revenue
- 2812000000
- Guidance
- 4Q26: ASMs +3.0-4.0% YoY, RASM +18.0-22.0%, CASM ex-fuel (1.0%)-1.0%, fuel $4.64/gal, adjusted operating margin (4.5%)-(6.5%), FY26 capex ~$850M; targets operating profitability in 2027 and at least $1.00 EPS plus positive free cash flow in 2028
- Total Debt
- 8393000000
- Revenue Yoy
- 21.1%
- Total Assets
- 15966000000
- Cash Position
- $2.2 billion liquidity (including $600M undrawn credit facility); $1,258M cash and equivalents
- Rasm yoy
- 18.4%
- Casm ex fuel yoy
- 7.0%
- Fuel cost recapture
- ~87%
- Unencumbered assets
- ~$7 billion
- Interest expense fy26
- ~$590 million
- Loyalty revenue growth
- 20% YoY
- Adjusted operating margin
- (3.9)%
- Avg fuel price per gallon
- $3.91 (+57% YoY)
- Fort lauderdale rasm growth
- ~15% on >65% capacity growth
- Jetforward 2026 incremental ebit
- ≥$310M
- Jetforward 2028 incremental ebit
- ~$1.2B
AI analysis
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