JBLU JPM Industrials 2026

Call Details

• Call Title: JPM Industrials 2026 Conference - JetBlue Airways
• Date: March 17, 2026 22:13 UTC
• Management Team:
  • Joanna Geraghty (Chief Executive Officer)
  • Marty St. George (President)
  • Ursula Hurley (Chief Financial Officer)

Call Summary

Strategic Commentary

• Jet Forward delivered $305M of incremental EBIT in 2025.
• The company is on track to deliver $310M of incremental EBIT in 2026.
• Jet Forward targets $850M to $950M of incremental EBIT through 2027.
• Net Promoter Score improved 8 points year-over-year and 17 points over two years, reaching the top of the industry.
• The company reduced its capital profile by $3B since 2023 and targets annual CapEx of less than $1B going forward.
• The strategic flywheel is intended to convert improved operations into higher RASM, higher loyalty, and sustained revenue growth.

Market / Industry View

• Demand accelerated into Q1 with underlying RASM improving by 2 points net of storm impacts.
• CASM ex fuel improved by 1 point net of storm impacts.
• Fuel pricing is described as extremely volatile with an unknown duration.
• Domestic transcon and Florida markets are cited as areas of strength while the Caribbean is a relative laggard.
• Transatlantic exposure is small and performing in line with expectations.
• Coastal airport costs are increasing and are identified as a structural pressure on fares and airline economics.
• Competitor capacity aggression has been limited during recent trough improvements, supporting demand stability.