JetBlue has reported a third quarter 2024 net loss of $60 million or ($0.17) per diluted share on a year-over-year increase in revenue of 0.5 percent to $2.4 billion. At September 30, 2024, the carrier had $4.7 billion in liquidity.
On Tuesday (October 29, 2024), JetBlue announced their third quarter financial results for the period ending September 30, 2024. The carrier reported a third quarter net loss of $60 million or ($0.17) per diluted share on a year-over-year increase in revenue of 0.5 percent to $2.4 billion. JetBlue’s third quarter revenue per available seat mile (RASM) increased versus the same period last year by 4.3 percent to 14.13 cents, while cost per available seat mile (CASM) declined 0.7 percent to 14.35 cents. Costs excluding fuel (CASM-ex) increased 4.8 percent compared to Q3 2023 to 10.62 cents. JetBlue ended the third quarter with $4.7 billion in liquidity, including a $600 million undrawn revolving credit facility.
In Tuesday’s announcement, JetBlue’s Chief Executive Officer, Joanna Geraghty, said,
“We met or exceeded all of our financial targets for the third quarter and progressed on the implementation of our JetForward strategy, sustaining the momentum we established in the second quarter. Thanks to our crewmembers' efforts and our improved operational performance in the third quarter, we saw a double digit increase in customer satisfaction year-over-year. I am proud to lead this incredible team, particularly as they continue to deliver the JetBlue experience in the face of operational challenges like Hurricanes Helene and Milton.”
Also commenting on the carrier’s third quarter 2024 results, JetBlue’s President, Marty St. George, said,
“We are pleased by our positive year-over-year unit revenue performance in the third quarter. Our self-help capacity actions have helped to better match supply with demand during off-peak flying. Demand remained healthy in peak periods and close-in, and was further supported by improving competitive capacity, particularly in the Latin region, and the ramp of our revenue initiatives. During the quarter, we announced new products and perks, such as lounges and a premium co-branded credit card, and progressed on the implementation of our reliability and network initiatives. Today, we are also announcing the upcoming enhancement of our Even More Space offering.”
JetBlue is ‘New York’s Hometown Airline®’ and a leading carrier in Boston (BOS), Fort Lauderdale (FLL), Los Angeles (LAX), Orlando (MCO) and San Juan (SJU). The airline carries guests to over 100 destinations across the U.S., Caribbean, Latin America, the UK (London Heathrow, London Gatwick, Edinburgh), Paris, Amsterdam and Dublin. JetBlue Airways Corporation trades on the NASDAQ under the ticker symbol JBLU.
Source: JetBlue/Businesswire
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