jetblue-logob76.jpg     Earnings Release



JETBLUE ANNOUNCES FOURTH QUARTER 2019 RESULTS


NEW YORK (January 23, 2020)
-- JetBlue Airways Corporation (NASDAQ: JBLU) today reported its results for the fourth quarter 2019:

Reported diluted earnings per share of $0.56 in the fourth quarter of 2019 compared to a diluted earnings per share of $0.55 in the fourth quarter of 2018. Adjusted diluted earnings per share was $0.56(1) in the fourth quarter of 2019 versus $0.50(1) in the fourth quarter of 2018.  Note A to this earnings release includes the GAAP to Non-GAAP reconciliation between reported and adjusted diluted earnings per share.

GAAP pre-tax income of $220 million in the fourth quarter of 2019, compared to a pre-tax income of $201 million in the fourth quarter of 2018. Excluding the one-time items, adjusted pre-tax income of $221 million(1), up 8% from a pre-tax income of $205 million(1) in the fourth quarter of 2018.

Pre-tax margin of 10.8%, up 0.6 percentage points from a pre-tax margin of 10.2% in the fourth quarter of 2018. Adjusted pre-tax margin of 10.9%(1), a 0.5 percentage point increase year over year from a pre-tax margin of 10.4%(1), exclusive of the one-time costs.


Highlights from the Fourth Quarter 2019

Fourth quarter 2019 revenue per available seat mile (RASM) declined (2.7)% year over year. This decline is largely in-line with our updated guidance range of (3.5)% to (1.5)%.

Operating expenses per available seat mile, excluding fuel (CASM ex-fuel)(1) was flat year over year, at the midpoint of our guidance range of (1.0)% to 1.0%. This was mainly driven by the compounding benefits of the Structural Cost Program.


Key Guidance for the First Quarter and Full Year 2020:

Earnings per share is expected to range between $0.10 and $0.20 in the first quarter 2020. For the full year, JetBlue expects earnings per share to range between $2.50 and $3.00.

Capacity is expected to increase between 1.5% and 3.5% year over year in the first quarter 2020. For the full year 2020, JetBlue expects capacity to increase between 5.5% and 7.5%.

RASM growth is expected to range between 0.0% and 3.0% for the first quarter 2020 compared to the same period in 2019.

CASM ex-fuel is expected to increase between 1.5% and 3.5% for the first quarter of 2020. For the full year 2020, JetBlue expects year over year CASM ex-fuel growth to range between (2.0)% and 0.0%.

For further details see the latest Investor Update and the Fourth Quarter 2019 Earnings Presentation available via the internet at http://investor.jetblue.com.


- 1 -


The following information was filed by Jetblue Airways Corp (JBLU) on Thursday, January 23, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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