JetBlue Airways (NASDAQ: JBLU) has announced its financial performance for Q4 2024. The report highlights both challenges and strategic progress in the airline’s transformation journey.
The airline narrowly exceeded revenue estimates and recorded a smaller net loss than expected for the fourth quarter.
Q4 2024 Financial Overview
Q4 2024 resulted in a GAAP net loss of $44 million, equivalent to $(0.13) per share, reflecting ongoing industry-wide pressures. Flight capacity saw a 5.1% decrease compared to the previous year, aligning with our network optimization strategy.
Operating revenue reached $2.3 billion, showing a modest 2.1% year-over-year decline despite reduced capacity. The company’s operating cost per available seat mile dropped 0.4% from the previous year, demonstrating improved cost management.
CASM ex-Fuel rose 11.0% compared to Q4 2023, primarily due to investments in operational reliability. Average fuel costs, including hedges, remained competitive at $2.47 per gallon.

Key Achievements in Q4 2024
- Maintained an impressive nearly 99% flight completion rate with a five-point improvement in punctuality, enhancing customer satisfaction
- Enhanced fleet maintenance led to 45% fewer controllable cancellations, significantly improving operational reliability
- Received The Points Guy’s recognition for best U.S. airline economy class for the fifth time, validating our customer-first approach
- Announced exciting new seasonal routes from Boston to Madrid and Edinburgh, launching May 2025, expanding our international presence
- Established a strategic new crew base in San Juan, creating over 400 local jobs and strengthening our Caribbean operations
- Achieved 0.7% operating margin and 0.8% adjusted operating margin, demonstrating financial discipline
- Revenue per available seat mile grew 3.2%, driven by robust holiday travel demand and improved pricing strategies
- CASM ex-Fuel performed 2.5 points better than projected, reflecting successful cost control measures
- Maintained strong liquidity position with $3.9 billion in unrestricted assets, ensuring financial flexibility

JetBlue CEO Comments
“Throughout 2024, JetBlue underwent significant transformation with the launch of our JetForward strategy, putting us on track toward renewed profitability,” said CEO Joanna Geraghty.
“We ended the year on a high note, surpassing both our revenue and cost targets while maintaining excellent operational reliability during the holiday travel season.”
“Our dedicated crewmembers have successfully managed substantial changes while continuing to provide outstanding service to our customers and shareholders. Their resilience and commitment to excellence have been instrumental in navigating this period of transition.”
“As we move into 2025, we’re intensely focused on implementing JetForward and building upon our 2024 achievements. Despite anticipated challenges ahead, our strategic framework positions us to address these head-on. We’re particularly encouraged by the early success of our operational efficiency improvements and customer service enhancements.”

Future Outlook
“Our strategic initiatives and momentum position us well for 2025,” stated President Marty St. George.
We expect these combined efforts to strengthen our revenue performance and drive positive operating margins throughout 2025. Our focus remains on delivering value to our shareholders while maintaining the high-quality service our customers expect from JetBlue.”
The airline continues to execute its JetForward strategy, emphasizing operational excellence, network optimization, and enhanced customer experience as key drivers for future growth and profitability.

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