Latest news with #JoannaGeraghty
Yahoo
5 hours ago
- Business
- Yahoo
JetBlue Posts Smaller-Than-Expected Loss As JetForward Strategy Gains Traction
JetBlue Airways Corp. (NASDAQ:JBLU) reported better-than-expected second-quarter 2025 results on Tuesday. The company delivered a modest operating profit and reinforced investor confidence in its JetForward turnaround strategy despite persistent macroeconomic headwinds. The airline posted an adjusted net loss of $58 million, or 16 cents per share, beating analyst estimates of a 34-cent loss. Revenue totaled $2.36 billion, down 3% year over year, but above Wall Street's expectation of $2.27 billion. The company's adjusted operating margin improved to 1.3%, marking a return to profitability after posting a negative margin in the previous quarter. On a GAAP basis, JetBlue reported a net loss of $74 million, or 21 cents per Joanna Geraghty said the company exited the first half of 2025 with meaningful progress on its multi-year JetForward plan, citing operational investments that improved on-time performance by three percentage points year over year and drove a double-digit increase in customer satisfaction. 'Despite facing an uncertain economic backdrop, we met or exceeded our financial targets,' Geraghty said. JetBlue's capacity in the second quarter declined 1.5% from the year-ago period, while total operating expenses fell 0.9% to $2.4 billion. Operating expense per available seat mile, excluding fuel (CASM ex-fuel), rose 6.0% year over year. However, due to continued cost control initiatives, it remained below the high end of the company's guidance. The average fuel price was $2.40 per gallon. The airline said it delivered $90 million in incremental EBIT from JetForward in the first half of 2025, bringing cumulative gains under the plan to $180 million. In May, JetBlue launched 'Blue Sky,' a new interline partnership with United Airlines that allows customers of both carriers to access expanded routes and earn and redeem loyalty points across each network. The initiative is expected to generate $50 million more in EBIT than originally projected and further accelerate JetBlue's transformation efforts. View more earnings on JBLU As part of its cost optimization and fleet modernization strategy, JetBlue sold its remaining Embraer E190 aircraft and two future Airbus A321neo XLR deliveries. It also completed a transaction to divest select assets from its JetBlue Technology Ventures subsidiary to SKY Leasing, reducing costs while retaining the portfolio's long-term upside. Chief Financial Officer Ursula Hurley said the company is reinstating its full-year unit cost guidance from earlier in the year, despite flying 1.5 points less capacity than initially planned. She added that the outlook for grounded aircraft due to Pratt & Whitney engine issues has improved, with the company now expecting to average fewer than 10 aircraft on the ground in 2025, down from prior expectations of mid-to-high teens. Outlook During the earnings conference call, a JetBlue executive reportedly stated that the airline will not be providing revenue guidance beyond the third quarter due to a 'choppy macro environment.' For the third quarter, JetBlue expects capacity to range from a 1% decline to a 2% increase year over year. Unit revenue is forecast to fall between 2% and 6%, while CASM ex-fuel is projected to rise between 4% and 6%. Capital expenditures for the quarter are estimated at approximately $375 million. For the full year 2025, JetBlue expects capacity to decline between 0.5% and 2.5%, while CASM ex-fuel is forecast to increase between 5.0% and 7.0%. The company anticipates interest expense of roughly $600 million and capital expenditures of approximately $1.2 billion as it continues investing in fleet modernization and operational improvements. 'Demand for air travel improved as the quarter progressed, resulting in significant strength for bookings within 14 days of travel, as well as for peak travel periods,' said JetBlue President Marty St. George. 'We are encouraged to see that momentum carry into July, and we are optimistic that demand will continue to improve through the end of the year.' Separately, JetBlue Airways and United Airlines (NASDAQ:UAL) announced Tuesday that they have completed the U.S. Department of Transportation's review of their Blue Sky collaboration and are moving forward with implementation. The partnership will enable customers to earn and redeem MileagePlus miles and TrueBlue points across both carriers, book flights across complementary networks through interline agreements, and access reciprocal loyalty perks such as priority boarding and same-day standby. Initial customer benefits will begin rolling out this fall, followed by expanded service at JFK and Newark. United also plans to adopt JetBlue's Paisly platform to power non-flight travel offerings such as hotels, rental cars, and insurance. Price Action: At last check Tuesday, JBLU shares were trading higher by 4.69% at $4.564. Read Next:Photo by Coby Wayne via Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? JETBLUE AIRWAYS (JBLU): Free Stock Analysis Report This article JetBlue Posts Smaller-Than-Expected Loss As JetForward Strategy Gains Traction originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Travel Weekly
6 days ago
- Business
- Travel Weekly
JetBlue expands Fort Lauderdale operations as it refocuses on core markets
JetBlue will launch service this winter from Fort Lauderdale to Tampa and Norfolk, Va., and will also bring back service from Fort Lauderdale to Atlanta and Austin, Texas, after yearlong suspensions. The carrier will fly daily from its South Florida focus city to Tampa beginning Dec. 4, competing against Southwest and Spirit. Regional Florida airline Silver also flew the route several times daily until liquidating last month. JetBlue will launch Fort Lauderdale-Norfolk service on Dec. 4, flying the route five-times weekly in competition with Spirit, Cirium flight schedule data shows. JetBlue connected Fort Lauderdale and Austin until April 2024. When the service resumes on Nov. 20, it will be twice daily, in competition with Spirit and Southwest. The New York-based airline dropped Atlanta service in June 2024. That route will resume Dec. 4 with daily flights, battling for market share with Delta, Frontier and Spirit. Southwest pulled out of Fort Lauderdale-Atlanta in April. JetBlue also plans to beef up frequencies from Fort Lauderdale to Las Vegas, Los Angeles, Phoenix, Raleigh-Durham in North Carolina and Richmond, Va., beginning this fall. The increases will bring the carrier to 95 daily departures from Fort Lauderdale serving 37 cities in December. The moves are part of JetBlue's realignment toward its core markets of strength as it strives to return to profitability for the first time since 2019. In June, CEO Joanna Geraghty told JetBlue staff that won't happen this year, while saying that saying that additional underperforming routes would be axed. One casualty: the carrier's last remaining Miami route. It serves Boston and will end on Sept. 2.
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Travel + Leisure
02-07-2025
- Business
- Travel + Leisure
This Popular Airline Is Ending Service To Miami and Cut 5 Other Routes—What Travelers Need to Know
JetBlue loyalists will soon have to say farewell to its Miami route. The budget carrier recently confirmed to Travel + Leisure that it would be ceasing operations at Miami International Airport (MIA). The last flight is scheduled for Sept. 3, according to CBS News Miami. While JetBlue operates out of 30-plus cities in the U.S., Miami is not a major hub for the airline. In fact, the discount airline only runs one to two daily flights between Miami and Boston's Logan International Airport (BOS). According to the Miami Herald, JetBlue first started operating out of Miami International Airport four years ago and had as many as 14 daily flights from MIA. JetBlue will continue to operate flights from two other nearby Florida airports: Palm Beach International Airport and Fort Lauderdale–Hollywood International Airport. JetBlue Corporate Communications told T+L that affected customers will receive refunds or travel alternatives, like flying to Fort Lauderdale. For travelers set on traveling to Miami International Airport on JetBlue, all hope is not lost. The airline recently announced an agreement with United Airlines to provide reciprocal loyalty benefits and earning opportunities on each airline. This means that a frequent-flyer on JetBlue could use their points to book a direct United-operated flight into MIA. JetBlue noted that airlines regularly update their route map due to customer demand and business priority. (In an internal memo, JetBlue CEO Joanna Geraghty said the company is planning to "wind down underperforming routes," reported CBS News.) 'We continually evaluate how our network is performing and make changes as needed,' a spokesperson shared with T+L. In addition to the Miami cuts, the carrier is ending flights between San Juan, Puerto Rico, and Cancun in August. It's also suspending seasonal service between New York City's John F. Kennedy Airport (JFK) and New Hampshire's Manchester-Boston Regional Airport, and reducing its Boston-to-Seattle flight to a seasonal service. Additionally, the seasonal flight connecting Boston and Grenada has been terminated. Network shakeups and changes is the case for many carriers. In January, Spirit Airlines trimmed back its route map including flights from New York to West Palm Beach, and Atlanta to New York. In February, low-cost carrier Avelo Airlines ceased operations in Concord, NC.
Skift
30-06-2025
- Business
- Skift
Qantas Tests A321XLR's Limits with Historic Nonstop Flight to Bangkok
Qantas is turning an aircraft delivery into a marketing moment for the Airbus A321XLR. While the record-setting flight grabs headlines, the bigger story is how single-aisle jets are reshaping long-haul route planning. Flight QF6041 isn't your regular Monday morning departure from Hamburg. As of 2 p.m. CET (8 a.m. ET), the aircraft is flying over Turkmenistan, and on course to make aviation history. Qantas being the operator of the new plane is a big clue about Monday's mission. The Australian flag carrier took delivery of the jet last week, and is now flying the plane back to the airline's HQ. The distance from the Airbus factory in Hamburg to Sydney is more than 9,000 nautical miles. A regular delivery flight for a single-aisle aircraft would typically include between two and four refuelling and crew-rest stops en route. But QF6041 is no ordinary aircraft. Qantas is accepting its first Airbus A321XLR – that's Xtra Long Range – and it plans to showcase its performance on the delivery flight Down Under. The aircraft is due to fly from Hamburg to Bangkok nonstop. If realized, this will be the longest A321XLR flight operated by a commercial airline. Qantas estimates the journey will cover more than 5,000 nautical miles. After a turnaround in the Thai capital, the XLR will continue from Bangkok to Sydney, with this second leg clocking in at around 4,000 nautical miles. If all goes to plan, the XLR, named 'Great Ocean Road,' will touch down in Sydney just after 10a.m. local time (8 p.m ET) on Wednesday morning. The total journey is due to take 42 hours, of which 21 hours will be in the air. Thousands are following the plane's progress on live flight-tracking websites such as Flightradar24. Qantas Pushes the Envelope While impressive, the historic flight is not entirely representative. The plane is not carrying any paying passengers or cargo. This makes the aircraft much lighter than normal and increases its overall range. Airbus' marketing materials say the A321XLR can fly up to 4,700 nautical miles 'in typical airline service.' Airlines tend to be more conservative about an aircraft's performance, taking in additional practical considerations on a route-by-route basis. This was highlighted by JetBlue CEO Joanna Geraghty at the Skift Global Forum last September. On the topic of destination targets for JetBlue's own fleet of A321XLRs, she cautioned: '[The range] is from the aircraft manufacturer, and you have to keep in mind that airlines always do their own studies to make sure that's accurate and sometimes it's not.' Despite New York JFK to Rome being within the official range of the A321XLR, Geraghty added: 'I'm not sure the XLR would actually make it to Rome with the level or reliability we would need. It's tougher to fly back in the wintertime and we don't want to have a technical stop to get gas over the Atlantic.' What's Next for Qantas and the XLR? Qantas is the latest big-name airline to switch from Boeing to Airbus for its next generation of planes. Despite huge retraining and operational complexities, the carrier is betting that the short-term pain will pay off handsomely. Monday's delivery flight is the first of an initial batch of 28 XLRs. These are planned to be direct replacements for Qantas' existing Boeing 737s. These previous-generation jets are due to leave the Qantas fleet over the next decade. Operating in one of the world's largest, yet least densely populated countries, Qantas is likely to feel the benefits of the XLR's improved range. It can fly around 1,500 nautical miles further than the outgoing 737s. The airline has highlighted Southeast Asia and the Pacific Islands as possible new markets for the narrowbody jet. First Look Inside Qantas' New 'Xtra Long Range' Plane Qantas is the latest big-name airline to switch from Boeing to Airbus for its next generation of planes. Despite huge retraining and operational complexities, the carrier is betting that the short-term pain will pay off handsomely. Read More Despite being a replacement for the 737, the XLR is five meters (16.5 feet) longer than the Boeing jets. The larger plane can seat 197 passengers – an increase of 13% in overall capacity – with the amount of space between economy seats unchanged at 30 inches. In line with global industry trends, Qantas is using the new plane to boost the number of premium options. The XLR will have 20 business class seats in a 2-2 configuration, representing a 66% increase on earlier models. The upscale seats will have a pitch of 37 inches and offer a five-inch recline. Other perks include a wireless charging pad, an extendable cocktail table, and adjustable calf-rest and footrest. Qantas will be the type's first operator in the Asia-Pacific region. The XLR is already in service with Iberia and Aer Lingus who use it to fly nonstop from Europe deep into the U.S. Ultra low-cost carrier Wizz Air is also due to start flying the jet between Hungary and India, and from the UK to Saudi Arabia. Other future operators include Air Canada, American Airlines, and IndiGo. What am I looking at? The performance of airline sector stocks within the ST200. The index includes companies publicly traded across global markets including network carriers, low-cost carriers, and other related companies. The Skift Travel 200 (ST200) combines the financial performance of nearly 200 travel companies worth more than a trillion dollars into a single number. See more airlines sector financial performance. Read the full methodology behind the Skift Travel 200.
Travel Weekly
26-06-2025
- Business
- Travel Weekly
JetBlue to cease Miami operations and reduce Seattle service
JetBlue will halt operations at Miami Airport in September and operate Seattle service seasonally. The schedule cuts follow CEO Joanna Geraghty's staff memo last week, in which she stated that JetBlue would implement a variety of cost-cutting measures, including the elimination of underperforming routes, because a drop-off in demand will prevent JetBlue from returning to profitability this year. JetBlue had aimed to end a string of losing years; the airline has not been profitable since before the pandemic. JetBlue began serving Miami in 2021, augmenting its robust schedule at Fort Lauderdale-Hollywood Airport, and for a short while flew as many as five Miami routes. Currently, only Boston-Miami remains, with the airline having suspended Miami-New York JFK service on June 12. JetBlue will end Miami-Boston service on Sept. 2. JetBlue's two Seattle routes serve Boston and New York JFK. Last winter was the first in which the Seattle-New York route was moved to summer only, with flying suspended from November through March. Beginning Oct. 25, the airline will transition Seattle-Boston to summers only. The move, JetBlue said, will better match its flying with demand trends.
