JetBlue Publishes Fourth Quarter 2023 Results – Airways | Airlines

Aw Ryan Scottini 5 Scaled.jpg

DALLAS — JetBlue Airways (B6) today reported its financial results for the fourth quarter of 2023, closing the year on a strong note.

The carrier reported a US$104 million net loss for the fourth quarter of 2023, or US$0.31 per share, under Generally Accepted Accounting Principles (GAAP). The adjusted net loss for the fourth quarter of 2023, excluding extraordinary items, was US$63 million, or US$0.19 per share. Capacity rose 3.3% in Q423 compared to the previous year, while operating revenue was US$2.3 billion, a 3.7% decrease from the previous year.

For the fourth quarter of 2023, operating expenses per available seat mile (CASM) fell 2.4% compared to the same period the previous year, and operating expenses per available seat mile grew 7.6% year over year, excluding fuel and related taxes, other non-airline operating expenses, and exceptional factors (referred to as “CASM ex-Fuel”). Finally, the average fuel price, including hedges, was US$3.08 per gallon in Q423.

JetBlue CEO Robin Hayes said, “We closed the year on a strong note thanks to the hard work and continued execution of our team as fourth-quarter revenue and costs beat our expectations. Looking ahead, I am confident that the next chapter of JetBlue, under Joanna’s leadership, will deliver a refreshed focus on our core customer, expanded opportunities for our crewmembers, and a return to JetBlue’s historical earnings power for our shareholders.”

N3085J JetBlue Airways Airbus A220-300 KBOS BOS. Photo: Marry Basaria/Airways

Q423 Result Highlights


Q42023 highlights include the airline achieving US$70 million in cost savings under its structural cost program in 2023, keeping itself on track to deliver run-rate savings of US$175 million to US$200 million by the end of 2024. The airline also realized US$55 million in cumulative cost savings from its fleet modernization program, which is expected to deliver US$75 million in cost savings through 2024 as B6 replaces the…

 read more airwaysmag.com

We use income earning auto affiliate links. More on Sponsored links.
Ad Amazon : The reality of UFOs and extraterrestrials is here for those with the courage to examine it. We are not alone! We are only one of many different humanoids in a universe teeming with other intelligent life?

Ad Amazon : Books UFO
Ad Amazon : Binoculars
Ad Amazon : Telescopes

Related Posts