JetBlue's fourth-quarter domestic performance showed a "healthy recovery" and executives were optimistic about demand trends on a Tuesday earnings call, but the carrier reported net losses for both the quarter and full year.
Still, "the majority of our [revenue per available seat mile] beat was driven by underlying demand strength coupled with loyalty, ancillaries and other revenue exceeding expectations," JetBlue president Marty St. George said. "Importantly, those trends have carried forward into early first-quarter bookings."
The carrier also has seen a "healthy recovery" in domestic performance, and the booking curve further normalized through the quarter, St. George said. However, "the fourth quarter continued to show strong peak period performance, while off-peak demand remained more pressured," he said.
"It will be a big year" for JetBlue's Blue Sky partnership with United Airlines, St. George added. "We expect to activate cross-selling interline flights on each other's websites very soon. This will be followed by mutual elite loyalty benefits turning on as the year progresses."
JetBlue Q4, Full-Year 2025 Metrics
JetBlue reported fourth-quarter passenger revenue of nearly $2.1 billion, a 2.2 percent decrease year over year. Total revenue for the quarter was more than $2.2 billion, down 1.5 percent for the period.
Full-year passenger revenue was more than $8.3 billion, down 3.3 percent compared with 2024, while full-year total revenue was nearly $9.1 billion, representing a 2.3 percent decline for the year.
The net loss for the quarter was $177 million compared with a $44 million loss in Q4 2024. The 2025 net loss was $602 million versus a loss of $795 million a year prior.
Capacity declined 1.6 percent year over year for each the quarter and the full year. Average fuel price for the quarter was $2.51 per gallon. For the year, it was $2.49 per gallon.
JetBlue's outlook for the first quarter included projected a capacity increase of 0.5 percent to 3.5 percent year over year. Capacity for the year is expected to increase 2.5 percent to 4.5 percent compared with 2025. JetBlue estimates fuel costs to be $2.27 to $2.42 per gallon for the first quarter and $2.17 to $2.37 per gallon for the full year.
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