JetBlue posted a $247 million net loss for 2Q26, wider than a year ago, on revenue of $2.7 billion, up 14.5%. That result moved the stock — shares jumped as much as 9% — because the loss itself beat expectations: adjusted EPS of -$0.66 came in well ahead of the -$0.72 consensus, and management introduced a new long-term target of at least $1.00 in EPS by 2028.
The loss story is almost entirely about fuel costs. Average fuel price hit
$4.23/gallon in the quarter, up 76% year over year — fuel cost per ASM jumped 75.1%, to 5.31 cents from 3.03 cents. That single input swung operating results from a $30 million profit in 2Q25 to a $141 million operating loss this quarter. JetBlue recaptured about 50% of the higher fuel cost through pricing, ahead of the 30-40% pace it had guided to, with full recapture targeted by early 2027.
What’s Working
JetForward, the airline’s multi-year turnaround plan, generated $470 million in cumulative incremental EBIT through June, on track for its 2026 target of at least $310 million and a longer-run goal of $850-950 million annually by the end of 2027. CASM ex-fuel rose just 2.4% year over year, better than the ~4% the airline had guided to — real cost discipline, not just a revenue story. Operational reliability improved too: A14 (arrivals within 14 minutes) rose about a point, and NPS improved 5 points year over year.
JetBlue posted a $247 million net loss for 2Q26, wider than a year ago, on revenue of $2.7 billion, up 14.5%. That result moved the stock — shares jumped as much as 9% — because the loss itself beat expectations: adjusted EPS of -$0.66 came in well ahead of the -$0.72 consensus, and management introduced a new long-term target of at least $1.00 in EPS by 2028.
The loss story is almost entirely about fuel costs. Average fuel price hit $4.23/gallon in the quarter, up 76% year over year — fuel cost per ASM jumped 75.1%, to 5.31 cents from 3.03 cents. That single input swung operating results from a $30 million profit in 2Q25 to a $141 million operating loss this quarter. JetBlue recaptured about 50% of the higher fuel cost through pricing, ahead of the 30-40% pace it had guided to, with full recapture targeted by early 2027.
Want this applied to your fleet or portfolio?
We can run a focused 15–20 minute walkthrough on the implications for your specific programs or risk exposure — or put together a custom subscription proposal.
We use cookies to optimize our website and our service.
Functional
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
