JetBlue's third-quarter revenue rose 21.1% to $2.812 billion, but its net loss widened to $257 million as fuel prices jumped 57%.
JetBlue Airways reported third-quarter revenue of $2.812 billion, up 21.1% from a year earlier, but its net loss widened to $257 million from $143 million as a sharp rise in fuel prices overwhelmed one of its stronger revenue quarters.
Diluted loss per share came to $0.68, or $0.60 on an adjusted basis, against a $0.40 adjusted loss a year earlier. Revenue per available seat mile rose 18.4% on capacity growth of just 2.3%, while average fuel prices hit $3.91 per gallon, up 57% year over year. The airline said it recaptured about 87% of the higher fuel cost through fares. Fort Lauderdale was the standout, with unit revenue up nearly 15% even as capacity there grew more than 65%, and loyalty revenue grew about 20%.
JetBlue also cut its full-year adjusted operating margin forecast to negative 4.5% to negative 6.5%, from negative 2% to negative 5%, while keeping its target of sustained operating profitability in 2027 and at least $1 in earnings per share by 2028. Chief executive Joanna Geraghty said resilient demand and strong yields drove revenue well ahead of initial expectations. Its premium BlueFirst product goes on sale across more than 30 routes, with service starting in December 2026.
The company's release and its SEC 10-Q filing agree on the revenue, loss and fuel figures. One point of tension is worth stating plainly: the revenue figure missed Wall Street's consensus and the loss was wider than the $0.55 per share analysts had expected, according to Associated Press reporting, so the share-price rise after the report reflected the unit-revenue strength rather than a clean beat.
The stakes for JetBlue are now about fuel and focus. Fares are covering most of the fuel spike, but not all of it, and the lowered margin forecast shows how thin the cushion is. The Fort Lauderdale expansion and the December premium launch are the airline's bets for closing the gap, with fourth-quarter unit revenue guided up 18% to 22% as the next marker.