St. George said that contracted corporate business revenue is up by “high single-digit” percentages compared with a year prior, “so it continues to grow.” He added, “With the retreat that we have been doing over the last three quarters at LaGuardia, that was a bit of a pleasant surprise for us.”
Earlier this year, JetBlue announced reduced flights to and from Los Angeles International and LaGuardia airports.
The airline’s renewed strategy, called JetForward, is built on four pillars, according to a presentation: providing reliable and caring service, building the best East Coast leisure network, offering products and perks that customers value and creating a secure financial future. The strategy aims to provide incremental earnings before interest and taxes of $800 million to $900 million between 2025 and 2027.
JetBlue executives also said the airline has deferred deliveries of 44 Airbus A321 aircraft until 2030 and beyond, a move toward solidifying the airline’s balance sheet and improving cash flow. The 44 planes had been scheduled for delivery between 2025 and 2029. The deferrals will slow JetBlue's transatlantic growth.
CEO Joanna Geraghty called European routes “an important part of the JetBlue network.” She said that while the deferral will have impacts on growth in that market, “it's by no means a retreat, it’s a further learning how to ensure that those routes are profitable.”
JetBlue reported second-quarter passenger revenue of nearly $2.3 billion, down 7.9% year over year. Total revenue was down to $2.4 billion from $2.6 billion one year prior. The carrier’s net income for the quarter was $25 million, down from the $138 million reported in the second quarter of 2023.
