Form 8-K

8-K — JETBLUE AIRWAYS CORP

Accession: 0001158463-26-000076

Filed: 2026-07-28

Period: 2026-07-28

CIK: 0001158463

SIC: 4512 (AIR TRANSPORTATION, SCHEDULED)

Item: Results of Operations and Financial Condition

Item: Regulation FD Disclosure

Item: Financial Statements and Exhibits

Documents

8-K — jblu-20260727.htm (Primary)

EX-99.1 (ex991-earningsreleaseq22026.htm)

EX-99.2 (ex992-investorupdateq22026.htm)

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8-K

8-K (Primary)

Filename: jblu-20260727.htm · Sequence: 1

jblu-20260727

false000115846300011584632026-07-282026-07-28

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): July 28, 2026

JETBLUE AIRWAYS CORPORATION

(Exact name of registrant as specified in its charter)

Delaware 000-49728 87-0617894

(State or other jurisdiction of incorporation)  (Commission File Number) (I.R.S. Employer Identification No.)

27-01 Queens Plaza North

Long Island City

New York

11101

(Address of principal executive offices)   (Zip Code)

(718) 286-7900

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol Name of each exchange on which registered

Common Stock, $0.01 par value JBLU The NASDAQ Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On July 28, 2026, we issued a press release announcing our financial results for the second quarter ended June 30, 2026. A copy of the press release is attached to this report as Exhibit 99.1 and is incorporated herein by reference.

The information included under Item 2.02 of this report (including the exhibits) is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933.

Item 7.01 Regulation FD Disclosure.

On July 28, 2026, we provided an update for investors presenting information relating to our financial outlook for the third quarter ending September 30, 2026 and full year 2026, and other information regarding our business. The update and materials to be used in conjunction with the presentation are furnished herewith as Exhibit 99.2 and Exhibit 99.3 and are incorporated herein by reference.

The information included under Item 7.01 of this report (including the exhibits) is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit

Number    Description

99.1

Press Release dated July 28, 2026 of JetBlue Airways Corporation announcing financial results for the second quarter ended June 30, 2026.

99.2

Investor Update dated July 28, 2026 of JetBlue Airways Corporation.

99.3

Earnings Presentation dated July 28, 2026.

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

JETBLUE AIRWAYS CORPORATION

(Registrant)

Date: July 28, 2026 By: /s/ Dawn Southerton

Dawn Southerton

Vice President, Controller

(Principal Accounting Officer)

EX-99.1

EX-99.1

Filename: ex991-earningsreleaseq22026.htm · Sequence: 2

Document

Ex 99.1 - Earnings Release

JETBLUE ANNOUNCES SECOND QUARTER 2026 RESULTS

Delivered 10.9% RASM growth, driven by continued demand strength and commercial actions

Re-established full-year 2026 outlook, supported by improved visibility into the second half

Introduced a 2028 EPS target of at least $1.00 per share

NEW YORK (July 28, 2026) - JetBlue Airways Corporation (NASDAQ: JBLU) today reported its financial results for the second quarter of 2026.

“Two years into JetForward, we’re encouraged by the progress we’re making and the results we’re driving across the business,” said Joanna Geraghty, JetBlue’s chief executive officer. “Our second quarter performance reflects the strength of our JetForward strategy and the focused execution of our crewmembers, as strong customer demand and our decisive actions enabled us to recover fuel costs more quickly than we anticipated.”

“This momentum reinforces our confidence that we're strengthening the foundation for a more profitable JetBlue. Reflecting the progress we're making and the earnings trajectory we see ahead, today we're introducing a long-term financial target of at least $1.00 in earnings per share for 2028 as we continue on the path toward restoring sustained profitability.”

JetForward Continues to Deliver Measurable Results

JetForward continues to deliver meaningful value across the business. Through June 2026, the airline's transformation strategy has generated $470 million of cumulative incremental EBIT (1) and remains on track to deliver its previously announced $850 - $950 million annual incremental EBIT benefit by year-end 2027.

•Reliable & Caring Service

◦Continued to improve operational performance and the customer experience in Q2 via reliability initiatives, with A14 increasing ~1 point and Net Promoter Score improving 5 points year-over-year during the quarter.

•Best East Coast Leisure Network

◦Accelerated long-term growth in Fort Lauderdale, delivering 11% YoY RASM growth in the second quarter despite nearly 40% capacity growth. Updated flight schedules to enhance connectivity through a more structured bank schedule and deliver more than 150 daily departures this winter.

◦Advanced Blue Sky, introducing reciprocal loyalty benefits to further improve customers' expanded ability to earn and redeem TrueBlue® points across a broader network.

•Products & Perks Customers Value

◦Expanded JetBlue's merchandising capabilities, with EvenMore® point redemptions, Preferred Seating and the refreshed premium co-branded credit card continuing to outperform expectations.

◦JetBlue's premium experiences continued to earn awards, including BlueHouseTM recognition, and its Mint® experience earning the highest-ranking in customer satisfaction among first/business passengers for a second consecutive year in the JD Power 2026 North America Airline Satisfaction Study.

•A Secure Financial Future

◦Improved crewmember productivity through enhanced digital tools, and modernized technology infrastructure to drive better scalability and reliability at a lower cost.

◦Improved fuel efficiency through advanced flight planning and routing, real-time data, predictive analytics, and operational decision support.

◦Expanded AI and data science-enabled capabilities to improve planning, automate decision-making, and better manage disruptions.

- 1 -

JetForward's initiatives continue to progress, led by BlueFirstTM, our new domestic first class product, which is expected to begin sales this fall. As these initiatives mature, JetBlue expects JetForward benefits to continue building beyond 2027, reaching approximately $1.2 billion of annual incremental EBIT in 2028. Based on this planned trajectory, the airline introduced a long-term financial target for 2028 EPS of at least $1.00 per share assuming continued demand strength and an average $3.00 per gallon jet fuel price in 2028.

Second Quarter 2026 Financial Results

•Recaptured nearly 50% of higher fuel costs during the second quarter, exceeding expectations.

•Second quarter 2026 system capacity increased by 3.2% year-over-year, within our revised guidance (2) range of 2.0% to 4.0%.

•Operating revenue of $2.7 billion for the second quarter of 2026, an increase of 14.5% year-over-year.

•Operating revenue per available seat mile ("RASM") increased 10.9% year-over-year, near the better end of our revised guidance range, supported by strong demand across nearly all products and geographies.

•Operating expense per available seat mile ("CASM") for the second quarter of 2026 increased 17.0% year-over-year.

•Operating expense per available seat mile, excluding fuel, other non-airline operating expenses, and special items ("CASM ex-Fuel") (3) for the second quarter of 2026 increased 2.4% year-over-year, 1.6 points better than the mid-point of revised guidance.

•Average fuel price in the second quarter of 2026 of $4.23 per gallon, $1.83 higher year-over-year, or approximately 76%.

•Capital expenditures, including predelivery deposits, in the second quarter totaled $234 million.

Second Quarter 2026 Commercial and Financial Highlights

•Premium RASM increased approximately 13%, complemented by 11% Main Cabin RASM growth, reflecting broad-based demand strength across the product portfolio.

•Loyalty revenue increased 13% year over year, supported by record co-brand account engagement, a nearly 40% increase in new premium card acquisitions and a 21% increase in loyalty cash remuneration.

•Introduced ClarityPay, expanding flexible payment options that provide more customers the opportunity to experience JetBlue's award-winning product.

•Building on the success of JetBlue's inaugural BlueHouseTM at JFK, recently awarded #1 'Best Airport Lounge of 2026' by Newsweek Readers' ChoiceTM Awards. Boston BlueHouseTM remains on track to open this summer.

Pratt & Whitney Agreement

•Secured Pratt & Whitney credits toward future goods and services related to GTF settlements through calendar year 2025.

Outlook

“Our commercial initiatives continued to gain traction in the second quarter, strengthening our visibility into the back half of the year,” said Marty St. George, JetBlue’s president. “Strong demand across our product portfolio, combined with continued JetForward execution and the ongoing progress of Blue Sky and BlueFirstTM, reinforces our confidence in the outlook and the momentum building across the business.”

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Third Quarter and Full Year 2026 Outlook

Estimated 3Q 2026

Estimated FY 2026

Available Seat Miles ("ASMs") Year-Over-Year 3.0% - 6.0% 1.5% - 3.5%

RASM Year-Over-Year 12.5% - 16.5% 10.0% - 12.5%

CASM Ex-Fuel (3) Year-Over-Year

2.5% - 4.5% 2.0% - 4.0%

Fuel Price per Gallon (4)

$3.49 $3.49

Adjusted Operating Margin (3)

- (2.0%) - (5.0%)

Interest Expense - ~$590 million

Capital Expenditures (5)

~$300 million ~$850 million

“Our second quarter results demonstrate the progress we're making on the levers within our control,” said Ursula Hurley, JetBlue’s chief financial officer. “Supported by strong revenue performance, disciplined capacity and continued cost execution, we expect second-half operating margin to improve by approximately 3.5 points year-over-year. The progress we are building supports JetBlue’s path to sustained profitability, meaningful earnings growth and long-term value creation for our shareholders.”

Earnings Call Details

JetBlue will hold a conference call to discuss its quarterly earnings today, July 28, 2026 at 10:00 a.m. Eastern Time. A live broadcast of the conference call will also be available via the internet at http://investor.jetblue.com. The webcast replay and presentation materials will be archived on the airline's website for at least 30 days.

For further details, see the second quarter 2026 Earnings Presentation available via the internet at http://investor.jetblue.com.

About JetBlue

JetBlue is New York's Hometown Airline®, and a leading carrier in Boston, Fort Lauderdale-Hollywood, Los Angeles, Orlando and San Juan. JetBlue, known for its low fares and great service, carries customers to more than 100 destinations throughout the United States, Latin America, the Caribbean, Canada and Europe. For more information and the best fares, visit jetblue.com.

Notes

Our estimated effective tax rate is ~6% for the third quarter and full year 2026, primarily reflecting a non-cash impact from a valuation allowance included in our forecasted annual effective tax rate.

(1)Management reviews the estimated amount of earnings before interest and taxes attributable to JetForward initiatives within a given period to evaluate progress against our financial and operational targets. Cumulative incremental EBIT reflects the estimated impact of strategic initiatives on profitability, such as partnerships, fleet optimization, network changes, and cost reduction programs.

(2)Revised guidance as of June 1, 2026.

(3)Non-GAAP financial measure; Note A provides a reconciliation of each non-GAAP financial measure used in this release to the most directly comparable GAAP financial measure and explains the reasons management believes that presentation of these non-GAAP financial measures provides useful information to investors regarding JetBlue's financial condition and results of operations. In addition, refer to Note A for further details on non-GAAP forward-looking information.

(4)Fuel price estimate utilizes the forward Brent crude curve and the forward Brent crude to jet crack spread as of July 10, 2026 to calculate fuel price. Includes fuel taxes and other fuel fees.

(5)Capital expenditures exclude one Airbus A321neo XLR, which JetBlue expects to sell following delivery of the aircraft.

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Forward-Looking Information

This Earnings Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements other than statements of historical facts contained in this Earnings Release are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "expects," "plans," "intends," "anticipates," "indicates," "remains," "believes," "estimates," "forecast," "guidance," "outlook," "may," "will," "should," "seeks," "goals," "targets" or the negative of these terms or other similar expressions. Additionally, forward-looking statements include statements that do not relate solely to historical facts, such as statements which identify uncertainties or trends, discuss the possible future effects of current known trends or uncertainties, or which indicate that the future effects of known trends or uncertainties cannot be predicted, guaranteed, or assured. Forward-looking statements contained in this Earnings Release include, without limitation, statements regarding our outlook, goals, and future results of operations and financial position, including our intended path to profitability, positive free cash flow, earnings targets and related assumptions, any expected headwinds or tailwinds, fuel prices and volatility, demand, our use of artificial intelligence, our aircraft fleet, our product offerings and loyalty initiatives, and our business strategy and plans and objectives for future operations, such as our JetForward initiatives, our Blue Sky collaboration, BlueFirstTM product launch, expected growth opportunities at select airports, our financing arrangements and potential implications thereof on our business, our sustainability initiatives, the impact of industry conditions, our ability to adjust pricing in response to changes in fuel costs or demand, and the related impacts on our business. Forward-looking statements involve risks, uncertainties and assumptions, and are based on information currently available to us. Actual results may differ materially from those expressed in the forward-looking statements due to many important factors, including, without limitation, our extremely competitive industry; the risk associated with the execution of our strategic operating plans in the near-term and long-term; risks related to the long-term nature of our fleet order book; volatility in fuel prices and availability of fuel; increased maintenance costs associated with fleet age; costs associated with salaries, wages and benefits; risks associated with a potential material reduction in the rate of interchange reimbursement fees; risks associated with doing business internationally; our reliance on high daily aircraft utilization; our dependence on the New York metropolitan market; risks associated with extended interruptions or disruptions in service at our focus cities; risks associated with airport expenses; risks associated with seasonality and weather; our reliance on a limited number of suppliers for our aircraft, engines, and our Fly-Fi® product; risks related to new or increased tariffs, including those that impact commercial aircraft and related parts imported from outside the United States; the outcome of current or future legal proceedings or regulatory actions; risks associated with stockholder activism; risks associated with cybersecurity and privacy, including potential disruptions to our information technology systems or information security breaches; heightened regulatory requirements concerning data security compliance; risks associated with reliance on, and potential failure of, automated systems to operate our business; our inability to attract and retain qualified crewmembers; our being subject to potential unionization, work stoppages, slowdowns or increased labor costs; reputational and business risk from an accident or incident involving our aircraft; risks associated with damage to our reputation and the JetBlue brand name; our significant amount of fixed obligations and the ability to service such obligations; possible failure to comply with financial and other debt covenants included in the agreements governing our debt; financial risks associated with credit card processors; risks associated with seeking short-term additional financing liquidity; failure to realize the full value of intangible or long-lived assets, causing us to record impairments; limits on our ability to use certain tax attributes; risks associated with our development and use of AI-powered solutions; risks associated with disease outbreaks or environmental disasters affecting travel behavior; compliance with environmental laws and regulations, which may cause us to incur substantial costs; the impacts of federal government shutdowns, federal budget constraints or federally imposed furloughs; increasing scrutiny of, and evolving expectations regarding, environmental matters; changes in government regulations in our industry; acts of war or terrorism; and changes in global economic or geopolitical conditions or an economic downturn leading to a continuing or accelerated decrease in demand for air travel. It is routine for our internal projections and expectations to change as the year or each quarter in the year progresses, and therefore it should be clearly understood that the internal projections, beliefs, and assumptions upon which we base our expectations may change prior to the end of each quarter or year.

Given the risks and uncertainties surrounding forward-looking statements, you should not place undue reliance on these statements. You should understand that many important factors, in addition to those discussed or incorporated by reference in this Earnings Release, could cause our results to differ materially from those expressed in the forward- looking statements. Further information concerning these and other factors is contained in JetBlue's filings with the U.S. Securities and Exchange Commission (the "SEC"), including but not limited to in our Annual Report on Form 10-K for the year ended December 31,

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2025, as may be updated by our other SEC filings. In light of these risks and uncertainties, the forward-looking events discussed in this Earnings Release might not occur. Our forward-looking statements speak only as of the date of this Earnings Release. Other than as required by law, we undertake no obligation to update or revise forward-looking statements, whether as a result of new information, future events, or otherwise.

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JETBLUE AIRWAYS CORPORATION

CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited, in millions, except per share amounts)

Three Months Ended June 30, Six Months Ended June 30,

(percent changes based on unrounded numbers) 2026 2025 Percent Change 2026 2025 Percent Change

OPERATING REVENUES

Passenger $ 2,487  $ 2,179  14.1  $ 4,535  $ 4,149  9.3

Other 210  177  18.6  402  347  15.6

Total operating revenues 2,697  2,356  14.5  4,937  4,496  9.8

OPERATING EXPENSES

Aircraft fuel 911  504  80.7  1,484  1,015  46.2

Salaries, wages and benefits 875  852  2.7  1,771  1,714  3.3

Landing fees and other rents 183  171  7.1  352  330  6.6

Depreciation and amortization 183  171  6.9  362  339  6.7

Aircraft rent 15  20  (23.7) 30  39  (23.4)

Sales and marketing 88  76  14.9  160  147  9.4

Maintenance, materials and repairs 204  198  3.1  398  389  2.3

Special items —  24  (99.4) —  24  (99.4)

Other operating expenses 379  334  13.4  745  667  11.7

Total operating expenses 2,838  2,350  20.8  5,302  4,664  13.7

OPERATING INCOME (LOSS) (141) 6  NM

(1)

(365) (168) NM

Operating margin (5.2) % 0.3  % (5.5) pts. (7.4) % (3.7) % (3.7) pts.

OTHER INCOME (EXPENSE)

Interest expense (147) (147) 0.4  (291) (295) (1.3)

Interest income 17  33  (47.3) 40  71  (43.5)

Capitalized interest 1  3  (63.0) 2  6  (64.3)

Gain on investments, net 1  3  (65.5) 4  4  (5.4)

Other (2) 8  NM 3  17  (78.9)

Total other expense (130) (100) 29.4  (242) (197) (22.5)

LOSS BEFORE INCOME TAXES (271) (94) NM (607) (365) 66.1

Pre-tax margin (10.0) % (4.0) % (6.0) pts. (12.3) % (8.1) % (4.2) pts.

Income tax benefit 24  20  19.4  41  83  (50.8)

NET LOSS $ (247) $ (74) NM $ (566) $ (282) NM

LOSS PER COMMON SHARE

Basic $ (0.66) $ (0.21) $ (1.51) $ (0.79)

Diluted $ (0.66) $ (0.21) $ (1.51) $ (0.79)

WEIGHTED AVERAGE SHARES OUTSTANDING:

Basic 375.9  361.3  373.6  357.9

Diluted 375.9  361.3  373.6  357.9

(1) Not meaningful or greater than 100% change.

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JETBLUE AIRWAYS CORPORATION

COMPARATIVE OPERATING STATISTICS

(unaudited)

​

Three Months Ended June 30, Six Months Ended June 30,

(percent changes based on unrounded numbers) 2026 2025 Percent Change 2026 2025 Percent Change

Revenue passengers (thousands) 10,479  9,973  5.1  19,809  19,237  3.0

Revenue passenger miles (RPMs) (millions) 14,192  13,627  4.1  26,798  26,228  2.2

Available seat miles (ASMs) (millions) 17,170  16,634  3.2  32,511  32,242  0.8

Load factor 82.7  % 81.9  % 0.8  pts. 82.4  % 81.3  % 1.1  pts.

Aircraft utilization (hours per day) (1)

10.2  10.2  (0.2) 9.8  10.0  (2.0)

Average fare $ 237.38  $ 218.52  8.6  $ 228.95  $ 215.66  6.2

Yield per passenger mile (cents) 17.53  15.99  9.6  16.92  15.82  7.0

Passenger revenue per ASM (cents) 14.49  13.10  10.6  13.95  12.87  8.4

Operating revenue per ASM (cents) 15.71  14.17  10.9  15.19  13.95  8.9

Operating expense per ASM (cents) 16.53  14.13  17.0  16.31  14.47  12.7

Operating expense per ASM, excluding fuel (cents) (2)

11.12  10.86  2.4  11.63  11.15  4.4

Departures 81,647  78,809  3.6  154,167  153,562  0.4

Average stage length (miles) 1,300  1,309  (0.7) 1,302  1,303  (0.1)

Average number of operating aircraft during period (1)

294  286  2.8  292  287  1.7

Average fuel cost per gallon $ 4.23  $ 2.40  76.3  $ 3.63  $ 2.48  46.2

Fuel gallons consumed (millions) 215  210  2.5  408  408  —

Fuel efficiency (ASMs per fuel gallon) 80  79  0.7  80  79  0.8

Average number of full-time equivalent crewmembers 19,847  18,956  4.7  19,647  19,050  3.1

(1) Includes aircraft temporarily removed from service, including four aircraft impacted by the Pratt & Whitney engine groundings.

(2) Refer to Note A at the end of our Earnings Release for more information on this non-GAAP financial measure.

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JETBLUE AIRWAYS CORPORATION

SELECTED CONSOLIDATED BALANCE SHEET DATA

(in millions)

June 30, 2026 December 31, 2025

(unaudited)

Cash and cash equivalents $ 1,656  $ 1,946

Total investment securities 512  531

Total assets 16,371  16,570

Total debt 8,478  8,498

Stockholders' equity 1,587  2,120

JETBLUE AIRWAYS CORPORATION

SELECTED CONSOLIDATED CASH FLOWS DATA

(in millions)

Six Months Ended June 30,

2026 2025

(unaudited)

Capital expenditures and pre-delivery deposits for flight equipment $ (375)

(1)

$ (496)

(1) Capital expenditures and pre-delivery deposits for 2026 consisted of $141 million in Q1 2026 and $234 million in Q2 2026, totaling $375 million year-to-date.

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Note A - Non-GAAP Financial Measures

We report our financial results in accordance with GAAP; however, we present certain non-GAAP financial measures in this Earnings Release. Non-GAAP financial measures are financial measures that are derived from the condensed consolidated financial statements, but that are not presented in accordance with GAAP. We present these non-GAAP financial measures because we believe they provide useful supplemental information that enables a meaningful comparison of our results to others in the airline industry and our prior results. Investors should consider these non-GAAP financial measures in addition to, and not as a substitute for, our financial performance measures prepared in accordance with GAAP. Further, our non-GAAP information may be different from the non-GAAP information provided by other companies. The information below provides an explanation of each non-GAAP financial measure used in this Earnings Release and shows a reconciliation of certain non-GAAP financial measures used in this Earnings Release to the most directly comparable GAAP financial measures.

With respect to JetBlue's CASM Ex-Fuel (1) and Adjusted Operating Margin (2) guidance, JetBlue is not able to provide a reconciliation of forward-looking measures where the quantification of certain excluded items reflected in the measure cannot be calculated or predicted at this time without unreasonable efforts. In these cases, the reconciling information that is unavailable includes a forward-looking range of financial performance measures beyond our control, such as interest rates and fuel costs, which are subject to many economic and political factors beyond our control. For the same reasons, we are unable to address the probable significance of the unavailable information, which could have a potentially unpredictable and potentially significant impact on our future GAAP financial results.

(1) CASM Ex-Fuel is a non-GAAP measure that excludes fuel, other non-airline operating expenses, and special items.

(2) Adjusted Operating Margin is a non-GAAP measure that excludes special items.

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Operating expense per available seat mile, excluding fuel, other non-airline operating expenses, and special items ("CASM ex-fuel")

CASM is a common metric used in the airline industry. Our CASM for the relevant periods are summarized in the table below. We exclude aircraft fuel, operating expenses related to other non-airline businesses, such as Paisly and JetBlue Technology Ventures (JBV), and special items from total operating expenses to determine Operating Expenses ex-fuel, which is a non-GAAP financial measure, and we exclude the same items from CASM to determine CASM ex-fuel, which is also a non-GAAP financial measure. We believe the impact of these special items distorts our overall trends and that our metrics are more comparable with the presentation of our results excluding such impact.

For the three and six months ended June 30, 2026, there were no special items.

For each of the three and six months ended June 30, 2025, special items included voluntary opt-out costs.

We believe Operating Expenses ex-fuel and CASM ex-fuel are useful for investors because they provide investors the ability to measure our financial performance excluding items that are beyond our control, such as fuel costs, which are subject to many economic and political factors, as well as items that are not related to the generation of an available seat mile, such as operating expense related to certain non-airline businesses and special items. We believe these non-GAAP measures are more indicative of our ability to manage airline costs and are more comparable to measures reported by other major airlines.

The table below provides a reconciliation of our total operating expenses (GAAP measure) to Operating Expenses ex-fuel, and our CASM to CASM ex-fuel for the periods presented.

NON-GAAP FINANCIAL MEASURE

RECONCILIATION OF OPERATING EXPENSE AND OPERATING EXPENSE PER ASM (CASM),

EXCLUDING FUEL

(unaudited)

Three Months Ended June 30,

$ Cents per ASM

(in millions; per ASM data in cents; percent changes based on unrounded numbers) 2026 2025 Percent Change 2026 2025 Percent Change

Total operating expenses $ 2,838 $ 2,350 20.8  16.53 14.13  17.0

Less:

Aircraft fuel 911 504 80.7  5.31 3.03  75.1

Other non-airline expenses 18 16 10.1  0.10 0.10  6.6

Special items — 24 (99.4) — 0.14  (99.4)

Operating expenses, excluding fuel $ 1,909 $ 1,806 5.7  11.12 10.86  2.4

NON-GAAP FINANCIAL MEASURE

RECONCILIATION OF OPERATING EXPENSE AND OPERATING EXPENSE PER ASM (CASM),

EXCLUDING FUEL

Six Months Ended June 30,

$ Cents per ASM

(in millions; per ASM data in cents; percent changes based on unrounded numbers) 2026 2025 Percent Change 2026 2025 Percent Change

Total operating expenses $ 5,302 $ 4,664 13.7  16.31  14.47  12.7

Less:

Aircraft fuel 1,484 1,015 46.2  4.56  3.15  45.0

Other non-airline expenses 36 32 11.8  0.12  0.10  10.9

Special items — 24 (99.4) —  0.07  (99.4)

Operating expenses, excluding fuel $ 3,782 $ 3,593 5.3  11.63  11.15  4.4

- 10 -

Operating Expense, Operating Income (Loss), Operating Margin, Pre-tax Loss, Pre-tax Margin, Net Loss and Loss per Share, excluding Special Items and Gain on Investments

For the three and six months ended June 30, 2026, there were no special items.

For each of the three and six months ended June 30, 2025, special items included voluntary opt-out costs.

Certain gains on our investments, net were also excluded from our June 30, 2026 and 2025 non-GAAP results.

We believe the impact of these items distort our overall trends and that our metrics are more comparable with the presentation of our results excluding the impact of these items. The table below provides a reconciliation of our GAAP reported amounts to the non-GAAP amounts excluding the impact of these items for the periods presented.

- 11 -

NON-GAAP FINANCIAL MEASURE

RECONCILIATION OF OPERATING EXPENSE, OPERATING INCOME (LOSS), OPERATING MARGIN, PRE-TAX LOSS, PRE-TAX MARGIN, NET LOSS, LOSS PER SHARE, EXCLUDING SPECIAL ITEMS AND GAIN ON INVESTMENTS

Three Months Ended June 30, Six Months Ended June 30,

(in millions except percentages) 2026 2025 2026 2025

Total operating revenues $ 2,697  $ 2,356  $ 4,937  $ 4,496

RECONCILIATION OF OPERATING EXPENSE

Total operating expenses $ 2,838  $ 2,350  $ 5,302  $ 4,664

Less: Special items —  24  —  24

Total operating expenses excluding special items $ 2,838  $ 2,326  $ 5,302  $ 4,640

Percent change 22.0  % 14.3  %

RECONCILIATION OF OPERATING INCOME (LOSS)

Operating income (loss) $ (141) $ 6  $ (365) $ (168)

Add back: Special items —  24  —  24

Operating income (loss) excluding special items $ (141) $ 30  $ (365) $ (144)

RECONCILIATION OF OPERATING MARGIN

Operating margin (5.2) % 0.3  % (7.4) % (3.7) %

Operating income (loss) excluding special items $ (141) $ 30  $ (365) $ (144)

Total operating revenues 2,697  2,356  4,937  4,496

Adjusted operating margin (5.2) % 1.3  % (7.4) % (3.2) %

RECONCILIATION OF PRE-TAX LOSS

Loss before income taxes $ (271) $ (94) $ (607) $ (365)

Add back: Special items —  24  —  24

Less: Gain on investments, net 1  3  4  4

Loss before income taxes excluding special items and gain on investments $ (272) $ (73) $ (611) $ (345)

RECONCILIATION OF PRE-TAX MARGIN

Pre-tax margin (10.0) % (4.0) % (12.3) % (8.1) %

Loss before income taxes excluding special items and gain on investments $ (272) $ (73) $ (611) $ (345)

Total operating revenues 2,697  2,356  4,937  4,496

Adjusted pre-tax margin (10.1) % (3.1) % (12.4) % (7.7) %

- 12 -

NON-GAAP FINANCIAL MEASURE

RECONCILIATION OF OPERATING EXPENSE, OPERATING INCOME (LOSS), OPERATING MARGIN, PRE-TAX LOSS, PRE-TAX MARGIN, NET LOSS, LOSS PER SHARE, EXCLUDING SPECIAL ITEMS AND GAIN ON INVESTMENTS

Three Months Ended June 30, Six Months Ended June 30,

(in millions except percentages) 2026 2025 2026 2025

RECONCILIATION OF NET LOSS

Net loss $ (247) $ (74) $ (566) $ (282)

Add back: Special items —  24  —  24

Less: Income tax benefit related to special items —  6  —  6

Less: Gain on investments, net 1  3  4  4

Less: Income tax expense related to gain on investments, net (1) (1) (1) (1)

Net loss excluding special items and gain on investments $ (247) $ (58) $ (569) $ (267)

CALCULATION OF LOSS PER SHARE

Loss per common share

Basic $ (0.66) $ (0.21) $ (1.51) $ (0.79)

Add back: Special items —  0.07  —  0.07

Less: Income tax benefit related to special items —  0.02  —  0.02

Less: Gain on investments, net —  —  0.01  0.01

Less: Income tax expense related to gain on investments, net —  —  —  —

Basic excluding special items and gain on investments $ (0.66) $ (0.16) $ (1.52) $ (0.75)

Diluted $ (0.66) $ (0.21) $ (1.51) $ (0.79)

Add back: Special items —  0.07  —  0.07

Less: Income tax benefit related to special items —  0.02  —  0.02

Less: Gain on investments, net —  —  0.01  0.01

Less: Income tax expense related to gain on investments, net —  —  —  —

Diluted excluding special items and gain on investments $ (0.66) $ (0.16) $ (1.52) $ (0.75)

- 13 -

CONTACTS

JetBlue Investor Relations

Tel: +1 718 709 2202

ir@jetblue.com

JetBlue Corporate Communications

Tel: +1 718 709 3089

corpcomm@jetblue.com

- 14 -

EX-99.2

EX-99.2

Filename: ex992-investorupdateq22026.htm · Sequence: 3

Document

Ex 99.2 - Investor Update

Investor Update: July 28, 2026

This update provides JetBlue's investor guidance for the third quarter ending September 30, 2026 and full year 2026.

Third Quarter and Full Year 2026 Outlook

Estimated 3Q 2026

Estimated FY 2026

Capacity and Revenue

Available Seat Miles ("ASMs") Year-Over-Year 3.0% - 6.0% 1.5% - 3.5%

RASM Year-Over-Year 12.5% - 16.5% 10.0% - 12.5%

Expense

CASM Ex-Fuel (1) Year-Over-Year

2.5% - 4.5% 2.0% - 4.0%

Fuel Price per Gallon (2)

$3.49 $3.49

Adjusted Operating Margin (1)

- (2.0%) - (5.0%)

Interest Expense - ~$590 million

Capital Expenditures (3)

~$300 million ~$850 million

Long-term target: the Company introduced a long-term financial target for 2028 EPS of at least $1.00 per share, supported by JetForward's expected growth to approximately $1.2 billion of annual incremental EBIT by year-end 2028. The target assumes continued demand strength and an average $3.00 per gallon jet fuel price in 2028.

Our estimated effective tax rate is ~6% for the third quarter and full year 2026, primarily reflecting a non-cash impact from a valuation allowance included in our forecasted annual effective tax rate.

(1) Non-GAAP financial measure; Note A provides a reconciliation of each non-GAAP financial measure used in this release to the most directly comparable GAAP financial measure and explains the reasons management believes that presentation of these non-GAAP financial measures provides useful information to investors regarding JetBlue's financial condition and results of operations. In addition, refer to Note A for further details on non-GAAP forward-looking information.

(2) Fuel price estimate utilizes the forward Brent crude curve and the forward Brent crude to jet crack spread as of July 10, 2026 to calculate fuel price. Includes fuel taxes and other fuel fees.

(3) Capital expenditures exclude one Airbus A321neo XLR, which JetBlue expects to sell following delivery of the aircraft.

1

JetBlue Airways Investor Relations • (718) 709-2202 • ir@jetblue.com

Investor Update

Order Book

As of June 30, 2026, JetBlue's operating fleet was comprised of 129 Airbus A320 aircraft, 102 Airbus A321, and 65 Airbus A220, for a total of 296 aircraft. This total includes aircraft that have been temporarily removed from service, including four aircraft impacted by the Pratt & Whitney engine groundings. All aircraft temporarily removed from service are expected to return to operation in the future.

JetBlue's aircraft deliveries (1) for full year, as of June 30, 2026:

Year A220

A321NEO (2)

TOTAL (3)

2026 (4)

12 — 12

2027 7 — 7

2028 11 — 11

2029 10 — 10

2030 1 2 3

Thereafter — 42 42

(1) Aircraft delivery timing and related committed expenditures are based on contractual schedules, adjusted for management's current expectations and recent communications from Airbus regarding delivery delays. Actual timing may differ due to production schedules, supply chain constraints, contractual modifications, regulatory matters and other factors.

(2) Excludes one Airbus A321neo XLR, which JetBlue expects to sell following delivery of the aircraft.

(3) In addition, we have options to purchase 20 A220-300 aircraft in 2028 through 2030.

(4) Includes six aircraft delivered year to date in 2026.

2

JetBlue Airways Investor Relations • (718) 709-2202 • ir@jetblue.com

Investor Update

Forward-Looking Information

This Investor Update contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements other than statements of historical facts contained in this Investor Update are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "expects," "plans," "intends," "anticipates," "indicates," "remains," "believes," "estimates," "forecast," "guidance," "outlook," "may," "will," "should," "seeks," "goals," "targets" or the negative of these terms or other similar expressions. Additionally, forward-looking statements include statements that do not relate solely to historical facts, such as statements which identify uncertainties or trends, discuss the possible future effects of current known trends or uncertainties, or which indicate that the future effects of known trends or uncertainties cannot be predicted, guaranteed, or assured. Forward-looking statements contained in this Investor Update include, without limitation, statements regarding our outlook, goals, and future results of operations and financial position, including our intended path to profitability, positive free cash flow, earnings targets and related assumptions, any expected headwinds or tailwinds, fuel prices and volatility, demand, our use of artificial intelligence, our aircraft fleet, our product offerings and loyalty initiatives, and our business strategy and plans and objectives for future operations, such as our JetForward initiatives, our Blue Sky collaboration, BlueFirstTM product launch, expected growth opportunities at select airports, our financing arrangements and potential implications thereof on our business, our sustainability initiatives, the impact of industry conditions, our ability to adjust pricing in response to changes in fuel costs or demand, and the related impacts on our business. Forward-looking statements involve risks, uncertainties and assumptions, and are based on information currently available to us. Actual results may differ materially from those expressed in the forward-looking statements due to many important factors, including, without limitation, our extremely competitive industry; the risk associated with the execution of our strategic operating plans in the near-term and long-term; risks related to the long-term nature of our fleet order book; volatility in fuel prices and availability of fuel; increased maintenance costs associated with fleet age; costs associated with salaries, wages and benefits; risks associated with a potential material reduction in the rate of interchange reimbursement fees; risks associated with doing business internationally; our reliance on high daily aircraft utilization; our dependence on the New York metropolitan market; risks associated with extended interruptions or disruptions in service at our focus cities; risks associated with airport expenses; risks associated with seasonality and weather; our reliance on a limited number of suppliers for our aircraft, engines, and our Fly-Fi® product; risks related to new or increased tariffs, including those that impact commercial aircraft and related parts imported from outside the United States; the outcome of current or future legal proceedings or regulatory actions; risks associated with stockholder activism; risks associated with cybersecurity and privacy, including potential disruptions to our information technology systems or information security breaches; heightened regulatory requirements concerning data security compliance; risks associated with reliance on, and potential failure of, automated systems to operate our business; our inability to attract and retain qualified crewmembers; our being subject to potential unionization, work stoppages, slowdowns or increased labor costs; reputational and business risk from an accident or incident involving our aircraft; risks associated with damage to our reputation and the JetBlue brand name; our significant amount of fixed obligations and the ability to service such obligations; possible failure to comply with financial and other debt covenants included in the agreements governing our debt; financial risks associated with credit card processors; risks associated with seeking short-term additional financing liquidity; failure to realize the full value of intangible or long-lived assets, causing us to record impairments; limits on our ability to use certain tax attributes; risks associated with our development and use of AI-powered solutions; risks associated with disease outbreaks or environmental disasters affecting travel behavior; compliance with environmental laws and regulations, which may cause us to incur substantial costs; the impacts of federal government shutdowns, federal budget constraints or federally imposed furloughs; increasing scrutiny of, and evolving expectations regarding, environmental matters; changes in government regulations in our industry; acts of war or terrorism; and changes in global economic conditions or an economic downturn leading to a continuing or accelerated decrease in demand for air travel. It is routine for our internal projections and expectations to change as the year or each quarter in the year progresses, and therefore it should be clearly understood that the internal projections, beliefs, and assumptions upon which we base our expectations may change prior to the end of each quarter or year.

Given the risks and uncertainties surrounding forward-looking statements, you should not place undue reliance on these statements. You should understand that many important factors, in addition to those discussed or incorporated by reference in this Investor Update, could cause our results to differ materially from those expressed in the forward-looking statements. Further information concerning these and other factors is contained in JetBlue's filings with the U.S. Securities and Exchange Commission (the "SEC"), including but not limited to in our Annual Report on Form 10-K for the year ended December 31, 2025, as may be updated by our other SEC filings. In light of these risks and uncertainties, the forward-looking events discussed in this Investor Update might not occur. Our forward-looking statements speak only as of the date of this Investor Update. Other than as required by law, we undertake no obligation to update or revise forward-looking statements, whether as a result of new information, future events, or otherwise.

3

JetBlue Airways Investor Relations • (718) 709-2202 • ir@jetblue.com

Investor Update

Note A - Non-GAAP Financial Measures

We report our financial results in accordance with GAAP; however, we present certain non-GAAP financial measures in this Investor Update. Non-GAAP financial measures are financial measures that are derived from the condensed consolidated financial statements, but that are not presented in accordance with GAAP. We present these non-GAAP financial measures because we believe they provide useful supplemental information that enables a meaningful comparison of our results to others in the airline industry and our prior results. Investors should consider these non-GAAP financial measures in addition to, and not as a substitute for, our financial performance measures prepared in accordance with GAAP. Further, our non-GAAP information may be different from the non-GAAP information provided by other companies.

With respect to JetBlue's CASM Ex-Fuel (1) and Adjusted Operating Margin (2) guidance, we are not able to provide a reconciliation of forward-looking measures where the quantification of certain excluded items reflected in the measures cannot be calculated or predicted at this time without unreasonable efforts. In these cases, the reconciling information that is unavailable includes a forward-looking range of financial measures beyond our control, such as fuel costs, which are subject to many economic and political factors beyond our control. For the same reasons, we are unable to address the probable significance of the unavailable information, which could have a potentially unpredictable and potentially significant impact on our future GAAP financial results.

(1) CASM Ex-Fuel is a non-GAAP measure that excludes fuel, other non-airline operating expenses, and special items.

(2) Adjusted Operating Margin is a non-GAAP measure that excludes special items.

4

JetBlue Airways Investor Relations • (718) 709-2202 • ir@jetblue.com

EX-99.3

EX-99.3

Filename: a2q26earningspresentatio.htm · Sequence: 4

a2q26earningspresentatio

2Q26 Earnings Presentation July 28, 2026

The JetBlue Way Forward | Our Strategic Evolution | Returning to Historical Earnings Power Safe Harbor This Earnings Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements other than statements of historical facts contained in this Earnings Release are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "expects," "plans," "intends," "anticipates," "indicates," "remains," "believes," "estimates," "forecast," "guidance," "outlook," "may," "will," "should," "seeks," "goals," "targets" or the negative of these terms or other similar expressions. Additionally, forward-looking statements include statements that do not relate solely to historical facts, such as statements which identify uncertainties or trends, discuss the possible future effects of current known trends or uncertainties, or which indicate that the future effects of known trends or uncertainties cannot be predicted, guaranteed, or assured. Forward-looking statements contained in this Earnings Release include, without limitation, statements regarding our outlook, goals, and future results of operations and financial position, including our intended path to profitability, positive free cash flow, earnings targets and related assumptions, any expected headwinds or tailwinds, fuel prices and volatility, demand, our use of artificial intelligence, our aircraft fleet, our product offerings and loyalty initiatives, and our business strategy and plans and objectives for future operations, such as our JetForward initiatives, our Blue Sky collaboration, BlueFirstTM product launch, expected growth opportunities at select airports, our financing arrangements and potential implications thereof on our business, our sustainability initiatives, the impact of industry conditions, our ability to adjust pricing in response to changes in fuel costs or demand, and the related impacts on our business. Forward-looking statements involve risks, uncertainties and assumptions, and are based on information currently available to us. Actual results may differ materially from those expressed in the forward-looking statements due to many important factors, including, without limitation, our extremely competitive industry; the risk associated with the execution of our strategic operating plans in the near-term and long-term; risks related to the long-term nature of our fleet order book; volatility in fuel prices and availability of fuel; increased maintenance costs associated with fleet age; costs associated with salaries, wages and benefits; risks associated with a potential material reduction in the rate of interchange reimbursement fees; risks associated with doing business internationally; our reliance on high daily aircraft utilization; our dependence on the New York metropolitan market; risks associated with extended interruptions or disruptions in service at our focus cities; risks associated with airport expenses; risks associated with seasonality and weather; our reliance on a limited number of suppliers for our aircraft, engines, and our Fly-Fi® product; risks related to new or increased tariffs, including those that impact commercial aircraft and related parts imported from outside the United States; the outcome of current or future legal proceedings or regulatory actions; risks associated with stockholder activism; risks associated with cybersecurity and privacy, including potential disruptions to our information technology systems or information security breaches; heightened regulatory requirements concerning data security compliance; risks associated with reliance on, and potential failure of, automated systems to operate our business; our inability to attract and retain qualified crewmembers; our being subject to potential unionization, work stoppages, slowdowns or increased labor costs; reputational and business risk from an accident or incident involving our aircraft; risks associated with damage to our reputation and the JetBlue brand name; our significant amount of fixed obligations and the ability to service such obligations; possible failure to comply with financial and other debt covenants included in the agreements governing our debt; financial risks associated with credit card processors; risks associated with seeking short-term additional financing liquidity; failure to realize the full value of intangible or long- lived assets, causing us to record impairments; limits on our ability to use certain tax attributes; risks associated with our development and use of AI-powered solutions; risks associated with disease outbreaks or environmental disasters affecting travel behavior; compliance with environmental laws and regulations, which may cause us to incur substantial costs; the impacts of federal government shutdowns, federal budget constraints or federally imposed furloughs; increasing scrutiny of, and evolving expectations regarding, environmental matters; changes in government regulations in our industry; acts of war or terrorism; and changes in global economic or geopolitical conditions or an economic downturn leading to a continuing or accelerated decrease in demand for air travel. It is routine for our internal projections and expectations to change as the year or each quarter in the year progresses, and therefore it should be clearly understood that the internal projections, beliefs, and assumptions upon which we base our expectations may change prior to the end of each quarter or year. Given the risks and uncertainties surrounding forward-looking statements, you should not place undue reliance on these statements. You should understand that many important factors, in addition to those discussed or incorporated by reference in this Earnings Release, could cause our results to differ materially from those expressed in the forward-looking statements. Further information concerning these and other factors is contained in JetBlue's filings with the U.S. Securities and Exchange Commission (the "SEC"), including but not limited to in our Annual Report on Form 10-K for the year ended December 31, 2025, as may be updated by our other SEC filings. In light of these risks and uncertainties, the forward-looking events discussed in this Earnings Release might not occur. Our forward-looking statements speak only as of the date of this Earnings Release. Other than as required by law, we undertake no obligation to update or revise forward-looking statements, whether as a result of new information, future events, or otherwise. 2

The JetBlue Way Forward | Our Strategic Evolution | Returning to Historical Earnings Power 2Q26 Recap Joanna Geraghty Chief Executive Officer 3

Revenue Strength and Cost Discipline Drove 2Q Outperformance • RASM increased 10.9% YoY and CASM ex-fuel (1) increased 2.4% YoY, both ahead of revised guidance midpoints (2) despite elevated fuel prices and ATC constraints Improved Visibility Supports the Second-Half Outlook • Recaptured nearly 50% of higher fuel costs in 2Q and remain on track for full recapture by early 2027 • Re-established FY26 outlook with 2H operating margin forecasted to improve ~3.5pts YoY • JetForward remains on track to deliver at least $310M of incremental EBIT (3) in 2026 and $850M-$950M of annual incremental EBIT benefit by year-end 2027 • Maintained 2H and full-year capacity below initial guidance (4), reflecting continued discipline and flexibility • Introduced target of at least $1 EPS for 2028, supported by continued JetForward ramp, sustained demand strength and an average $3.00 per gallon jet fuel price in 2028 Strong 2Q Execution Reinforces Path to Sustained Profitability 4 (1) Operating expense per available seat mile, excluding fuel, other non-airline operating expenses and special items (“CASM ex-Fuel”); See Appendix A for further details on Non-GAAP measures. (2) Revised guidance as of June 1, 2026. (3) Management reviews the estimated amount of earnings before interest and taxes attributable to JetForward initiatives within a given period to evaluate progress against our financial and operational targets. Incremental EBIT reflects the estimated impact of strategic initiatives on profitability, such as partnerships, fleet optimization, network changes, and cost reduction programs. (4) Initial guidance as of January 27, 2026.

The JetBlue Way Forward | Our Strategic Evolution | Returning to Historical Earnings Power Commercial Update and Outlook Marty St. George President 5

Broad-Based Demand Strength Drove 2Q Outperformance • Strategic commercial execution accelerated fuel recapture while maintaining strong demand momentum across the booking curve • Refreshed premium card and strong demand for BlueHouseTM benefit supported nearly 40% growth in new card acquisitions and 21% higher loyalty remuneration YoY More of the 3Q Booking Curve Captures Today’s Stronger Yield Environment • Capitalizing on demand strength to extend revenue momentum into 3Q • Continuing to ramp JetForward commercial initiatives across premium, loyalty and travel products • Fort Lauderdale driving all 2H net capacity growth, supported by strong demand and continued unit revenue strength • Expanding Blue Sky and Paisly to deepen TrueBlue® engagement and expand beyond JetBlue ecosystem Resilient Demand and Disciplined Execution Strengthen 3Q Revenue (1) Revised guidance as of June 1, 2026. 6 9.0% to 12.0% 10.9% 12.5% to 16.5% 2Q26 Revised Guidance 2Q26 Actual 3Q26 Guidance RASM YOY Growth 2.0% to 4.0% 3.2% 3.0% to 6.0% 2Q26 Revised Guidance 2Q26 Actual 3Q26 Guidance ASM YOY Growth (1) (1)

Fort Lauderdale Delivered 11% RASM on Nearly 40% YoY Capacity Growth 7 Improving customer satisfaction through product investments, reliability, and service Capacity growth increases relevance for South Florida customers and structured banks create more connections via FLL to the Caribbean and Latin America Product and perk enhancements including Mint®, BlueFirstTM, EvenMore®, Premium card, and Lounges, bolster overall offering Greater Loyalty engagement offers opportunities to fly, earn and redeem, deepening TrueBlue® engagement and customer value Paisly captures more of the end-to-end journey with comprehensive non-air ancillary offerings Improved products, network relevance, and execution drive increased loyalty and RASM Broader Reach and Connectivity from FLL

JetForward Initiatives Expected to Ramp to ~$1.2B in 2028 (1) Stated EBIT initiative range is forecasted to include ~$25M of incremental depreciation, amortization and aircraft rent expense through 2027. (2) Assumes continued demand strength and $3.00/gallon average fuel price in 2028. 8 $470M $115M $240M $25M $90M Notable for 1H 2026 Reliable & caring service Best East Coast leisure network Products & perks customers value A secure financial future ✓ Improved key YoY operational metrics in Q2, including A14 increasing ~1 point and NPS improving 5 points ✓ Accelerated Fort Lauderdale (FLL) growth strategy ✓ Implemented banked schedule to set up over 150 daily departures from FLL this winter ✓ Introduced reciprocal loyalty benefits with United for elite members through Blue Sky ✓ Launched merchandising capabilities including EvenMore® point redemptions, Preferred Seating and our refreshed premium credit card ✓ Earned recognition for BlueHouseTM and Mint® earned J.D. Power's highest ranking in customer satisfaction in the First/Business segment for a second consecutive year ✓ Improving crewmember productivity through digital tools and modernized technology infrastructure ✓ Improving fuel efficiency through smarter routing, real-time data, and predictive analytics ✓ Leveraging AI and data science to improve planning, automate decision-making, and better manage disruptions Realized through 1H 2026 Unrealized ~$450M $850 - $950M~$175M ~$175M ~$100M BlueFirstTM anchors the continued ramp of JetForward initiatives in 2028, supporting approximately $1.2 billion of annual incremental EBIT and at least $1.00 of EPS (2) On-track to drive $850M-$950M of annual incremental EBIT in 2027​ vs. 2024 ~$1.2B $470M 20282027 Builds on 2027 JetForward target of $850M-$950M annual incremental EBIT (1)

9 Blue Sky Momentum Builds as Paisly Scales Across Travel Paisly Travel Platform LaunchBlue Sky Partnership Value Drivers 1 Loyalty utility – Reciprocal earn and redemption expand utility for TrueBlue® and MileagePlus® members 2 Expanded customer choice – Interline + mixed-metal itineraries broaden network reach and enable one-way JetBlue & one-way United journeys 3 Reciprocal benefits – Priority boarding, preferred and extra-legroom seating, and flight-change benefits deepen the customer value proposition 1 Broader platform reach – Paisly independently powers TrueBlue TravelTM, JetBlue Vacations®, and MileagePlus® Travel 2 Blue Sky ancillary milestone – Rental cars mark the first non-air ancillary step with the partnership 3 More products + partners ahead – Hotels and travel insurance expected in 4Q LIVE / IN MARKET Loyalty, interline, rental cars 4Q Hotels + travel insurance 2027+ Cruise and MileagePlus ® packages Timing reflects current expectations. BY YEAR-END 2026 Mixed-metal begins Additional airline + non-airline partnership opportunities continue to be explored 4

10 Upcoming BlueFirstTM Launch Completes Onboard Product Evolution And Expected to Drive ~5pts RASM Improvement in Steady State Optimizing Cabin Space to Deliver the Experiences Our Customers Want Introducing Blue First, adding 2x2 seating on 3-4 rows on all non-Mint® aircraft Overall seat count will remain similar across our fleet with premium seat mix increasing to ~27% Differentiated EvenMore® as a standalone cabin and fare class, with dedicated overhead bins and a premium snack Introduced Preferred Seating in our Main cabin towards front of aircraft ✓ Illustrative Non-Mint® Aircraft Onboard Product Evolution Even More Main Blue First Future State Even More Core Current State Enhanced our Basic offering with addition of a free carry-on bag ✓✓ 10 ✓ Implemented BlueFirstTM Launch Timeline Year-End 2027 Majority of retrofit work completed Fall 2026 Sales open 2028+ Ramp to run-rate

The JetBlue Way Forward | Our Strategic Evolution | Returning to Historical Earnings Power Financial Update and Outlook Ursula Hurley Chief Financial Officer 11

12 2Q26 Revised Guidance 2Q26 Actuals 3Q26 Guidance CASM ex-Fuel (1) YoY Growth 2Q Cost Execution Outperformed Expectations • CASM ex-fuel rose 2.4% YoY, 1.6pts better than revised guidance midpoint, on strong execution and a shift in timing of expenses Fuel Recapture Progressed Faster Than Expected; Fuel Efficiency Initiatives Remain on Track • Recaptured nearly 50% of higher fuel costs in 2Q, ahead of prior expectations and on track to reach full recapture by early 2027 • Leveraging real-time routing, personalized pilot insights and predictive analytics to improve fuel efficiency • Operating initiatives and fleet modernization remain on track for fuel-efficiency improvement FY26 Outlook Re-Established • 2H RASM growth expected to exceed CASM ex-fuel by 10+ points, driving ~3.5pts of YoY operating margin improvement • Ex-fuel unit cost growth moderates in 2H as JetForward savings ramp • Secured Pratt & Whitney credits toward future goods and services related to GTF settlements through calendar year 2025 2Q Execution Supports Improving Second-Half Outlook 2.5% to 4.5%3.0% to 5.0% 2.4% FY26 Initial Guidance FY26 Revised Guidance 2.0% to 4.0% 1.0% to 3.0% (1) Operating expense per available seat mile, excluding fuel, other non-airline operating expenses and special items (“CASM ex-Fuel”); See Appendix A for further details on Non-GAAP measures. (2) Revised guidance as of June 1, 2026. (3) Initial guidance as of January 27, 2026. (2) (3)

Full Year Guidance Reestablished With 2H RASM Exceeding CASM-ex by Double Digits Guidance Estimated 3Q 2026 Estimated FY 2026 ASMs Year-over-Year 3.0% – 6.0% 1.5% – 3.5% RASM Year-over-Year 12.5% – 16.5% 10.0% – 12.5% CASM ex-Fuel (1) Year-over-Year 2.5% – 4.5% 2.0% – 4.0% Fuel Price per Gallon (2) $3.49 $3.49 Adjusted Operating Margin (1) - (2.0%) – (5.0%) Note: Our estimated effective tax rate is ~6% for the third quarter and full year 2026, primarily reflecting a non-cash impact from a valuation allowance included in our forecasted annual effective tax rate. (1) Non-GAAP financial measure; refer to Appendix A for further details on non-GAAP forward looking information. (2) Fuel price estimate utilizes the forward Brent crude curve and the forward Brent crude to jet crack spread as of July 10, 2026 to calculate fuel price. Includes fuel taxes and other fuel fees. (3) Excludes one Airbus A321neo XLR, which JetBlue expects to sell following delivery of the aircraft. 13 Interest Expense - ~$590 million Capital Expenditures (3) ~$300 million ~$850 million

The JetBlue Way Forward | Our Strategic Evolution | Returning to Historical Earnings Power JetForward and Long-Term Vision 14

15 JetForward continues building beyond 2027 and supports Path to at Least $1.00 EPS in 2028 2027 JetForward target $850M-$950M annual incremental EBIT vs. 2024 + Existing JetForward initiatives continue ramping, led by BlueFirstTM +$300M incremental EBIT vs. 2027 = BlueFirstTM is the largest remaining earnings driver: Launches 2H26 | Majority of retrofits completed in 2027 | Earnings continue building meaningfully in 2028 2027 & 2028 Financial Profile ~Mid-single-digit annual RASM growth 2028 JetForward target ~$1.2B resulting in at least $1.00 EPS (1) ~Low-single-digit annual CASM ex-fuel growth Supports free cash flow generation and balance sheet deleveraging (1) Assumes continued demand strength and an average $3.00 per gallon jet fuel price in 2028.

16 JetForward Execution Supports Margin Recovery and Path to Achieving 2028 EPS Target Long-Term Financial Priorities • As free cash flow improves, focus shifts toward reducing leverage and lowering interest expense • Prioritize maintaining 17-20% liquidity target with a focus on cost of capital • Strong liquidity position with more than $6B of unencumbered assets provide meaningful flexibility to optimize capital structure 25 Deliver Positive Operating Margin 1 • 2H operating margin expected to improve ~3.5pts YoY, supported by strong demand and JetForward execution • Positive operating margin expected in 2027, assuming continued execution and constructive macro backdrop • Continued margin growth expected to result in at least $1.00 EPS by 2028 (1) Achieve Positive Free Cash Flow • Positive operating margin and disciplined capex profile expected to support free cash flow improvement • Annual capex expected to remain below $1B annually through the end of the decade Strengthen Balance Sheet 32 Operating margin progression End of 2027 and into 2028 Improve leverage and reduce interest expense over time (1) Assumes continued demand strength and an average $3.00 per gallon jet fuel price in 2028.

The JetBlue Way Forward | Our Strategic Evolution | Returning to Historical Earnings Power Appendix 17

Non-GAAP Financial Measures We report our financial results in accordance with GAAP; however, we present certain non-GAAP financial measures in this Presentation. Non-GAAP financial measures are financial measures that are derived from the consolidated financial statements, but that are not presented in accordance with GAAP. We present these non-GAAP financial measures because we believe they provide useful supplemental information that enables a meaningful comparison of our results to others in the airline industry and our prior year results. Investors should consider these non-GAAP financial measures in addition to, and not as a substitute for, our financial performance measures prepared in accordance with GAAP. Further, our non-GAAP information may be different from the non-GAAP information provided by other companies. This Presentation includes an explanation of each non-GAAP financial measure presented in this Presentation and a reconciliation of certain non-GAAP financial measures used in this Presentation to the most directly comparable GAAP financial measures. With respect to JetBlue's CASM Ex-Fuel (1) and Adjusted Operating Margin (2) guidance, JetBlue is not able to provide a reconciliation of forward-looking measures where the quantification of certain excluded items reflected in the measures cannot be calculated or predicted at this time without unreasonable efforts. In these cases, the reconciling information that is unavailable includes a forward-looking range of financial performance measures beyond our control, such as fuel costs, which are subject to many economic and political factors beyond our control. For the same reasons, we are unable to address the probable significance of the unavailable information, which could have a potentially unpredictable and potentially significant impact on our future GAAP financial results. (1) CASM Ex-Fuel is a non-GAAP measure that excludes fuel, other non-airline operating expenses, and special items. (2) Adjusted Operating Margin is a non-GAAP measure that excludes special items. Appendix A 18

Operating Expenses, excluding Fuel, Other Non-Airline Operating Expenses, and Special Items ("Operating Expenses ex-fuel") and Operating Expense ex-fuel per Available Seat Mile ("CASM ex-fuel") Operating Expense per Available Seat Mile ("CASM") is a common metric used in the airline industry. Our CASM for the relevant periods are summarized in the table below. We exclude aircraft fuel, operating expenses related to other non-airline businesses, such as Paisly and JetBlue Technology Ventures (JBV), and special items from total operating expenses to determine Operating Expenses ex-fuel, which is a non-GAAP financial measure, and we exclude the same items from CASM to determine CASM ex- fuel, which is also a non-GAAP financial measure. We believe the impact of these special items distorts our overall trends and that our metrics are more comparable with the presentation of our results excluding such impact. We believe Operating Expenses ex-fuel and CASM ex-fuel are useful for investors because they provide investors the ability to measure our financial performance excluding items that are beyond our control, such as fuel costs, which are subject to many economic and political factors, as well as items that are not related to the generation of an available seat mile, such as operating expense related to certain non-airline businesses and special items. We believe these non-GAAP measures are more indicative of our ability to manage airline costs and are more comparable to measures reported by other major airlines. For the three and six months ended June 30, 2026, there were no special items. For each of the three and six months ended June 30, 2025, special items included voluntary opt-out costs. The table below provides a reconciliation of our total operating expenses (GAAP measure) to Operating Expenses ex-fuel, and our CASM to CASM ex-fuel for the periods presented. NON-GAAP FINANCIAL MEASURE RECONCILIATION OF OPERATING EXPENSE AND OPERATING EXPENSE PER ASM (CASM), EXCLUDING FUEL (unaudited) Three Months Ended June 30, Six Months Ended June 30, $ Cents per ASM $ Cents per ASM (in millions; per ASM data in cents; percent changes based on unrounded numbers) 2026 2025 Percent Change 2026 2025 Percent Change 2026 2025 Percent Change 2026 2025 Percent Change Total operating expenses $ 2,838 $ 2,350 20.8 16.53 14.13 17.0 $ 5,302 $ 4,664 13.7 16.31 14.47 12.7 Less: Aircraft fuel 911 504 80.7 5.31 3.03 75.1 1,484 1,015 46.2 4.56 3.15 45.0 Other non-airline expenses 18 16 10.1 0.10 0.10 6.6 36 32 11.8 0.12 0.10 10.9 Special items — 24 (99.4) — 0.14 (99.4) — 24 (99.4) — 0.07 (99.4) Operating expenses, excluding fuel $ 1,909 $ 1,806 5.7 11.12 10.86 2.4 $ 3,782 $ 3,593 5.3 11.63 11.15 4.4 19

Operating Expense, Operating Income (Loss), Operating Margin, Pre-tax Loss, Pre-tax Margin, Net Loss and Loss per Share, excluding Special Items and Gain on Investments For the three and six months ended June 30, 2026, there were no special items. For each of the three and six months ended June 30, 2025, special items included voluntary opt-out costs. Certain gains on our investments, net were also excluded from our June 30, 2026 and 2025 non- GAAP results. We believe the impact of these items distort our overall trends and that our metrics are more comparable with the presentation of our results excluding the impact of these items. The table below provides a reconciliation of our GAAP reported amounts to the non-GAAP amounts excluding the impact of these items for the periods presented. NON-GAAP FINANCIAL MEASURE RECONCILIATION OF OPERATING EXPENSE, OPERATING INCOME (LOSS), OPERATING MARGIN, PRE-TAX LOSS, PRE-TAX MARGIN, NET LOSS, LOSS PER SHARE, EXCLUDING SPECIAL ITEMS AND GAIN ON INVESTMENTS (unaudited) Three Months Ended June 30, Six Months Ended June 30, (in millions except percentages) 2026 2025 2026 2025 Total operating revenues $ 2,697 $ 2,356 $ 4,937 $ 4,496 RECONCILIATION OF OPERATING EXPENSE Total operating expenses $ 2,838 $ 2,350 $ 5,302 $ 4,664 Less: Special items — 24 — 24 Total operating expenses excluding special items $ 2,838 $ 2,326 $ 5,302 $ 4,640 Percent change 22.0 % 14.3 % RECONCILIATION OF OPERATING INCOME (LOSS) Operating income (loss) $ (141) $ 6 $ (365) $ (168) Add back: Special items — 24 — 24 Operating income (loss) excluding special items $ (141) $ 30 $ (365) $ (144) RECONCILIATION OF OPERATING MARGIN Operating margin (5.2)% 0.3 % (7.4)% (3.7)% Operating income (loss) excluding special items $ (141) $ 30 $ (365) $ (144) Total operating revenues 2,697 2,356 4,937 4,496 Adjusted operating margin (5.2)% 1.3 % (7.4)% (3.2)% RECONCILIATION OF PRE-TAX LOSS Loss before income taxes $ (271) $ (94) $ (607) $ (365) Add back: Special items — 24 — 24 Less: Gain on investments, net 1 3 4 4 Loss before income taxes excluding special items and gain on investments $ (272) $ (73) $ (611) $ (345) RECONCILIATION OF PRE-TAX MARGIN Pre-tax margin (10.0)% (4.0)% (12.3)% (8.1)% Loss before income taxes excluding special items and gain on investments $ (272) $ (73) $ (611) $ (345) Total operating revenues 2,697 2,356 4,937 4,496 Adjusted pre-tax margin (10.1)% (3.1)% (12.4)% (7.7)% RECONCILIATION OF NET LOSS Net loss $ (247) $ (74) $ (566) $ (282) Add back: Special items — 24 — 24 Less: Income tax benefit related to special items — 6 — 6 Less: Gain on investments, net 1 3 4 4 Less: Income tax expense related to gain on investments, net (1) (1) (1) (1) Net loss excluding special items and gain on investments $ (247) $ (58) $ (569) $ (267) 20

Operating Expense, Operating Income (Loss), Operating Margin, Pre-tax Loss, Pre-tax Margin, Net Loss and Loss per Share, excluding Special Items and Gain on Investments (continued) For the three and six months ended June 30, 2026, there were no special items. For each of the three and six months ended June 30, 2025, special items included voluntary opt-out costs. Certain gains on our investments, net were also excluded from our June 30, 2026 and 2025 non- GAAP results. We believe the impact of these items distort our overall trends and that our metrics are more comparable with the presentation of our results excluding the impact of these items. The table below provides a reconciliation of our GAAP reported amounts to the non-GAAP amounts excluding the impact of these items for the periods presented. NON-GAAP FINANCIAL MEASURE RECONCILIATION OF OPERATING EXPENSE, OPERATING INCOME (LOSS), OPERATING MARGIN, PRE-TAX LOSS, PRE-TAX MARGIN, NET LOSS, LOSS PER SHARE, EXCLUDING SPECIAL ITEMS AND GAIN ON INVESTMENTS (unaudited) Three Months Ended June 30, Six Months Ended June 30, CALCULATION OF LOSS PER SHARE 2026 2025 2026 2025 Loss per common share Basic $ (0.66) $ (0.21) $ (1.51) $ (0.79) Add back: Special items — 0.07 — 0.07 Less: Income tax benefit related to special items — 0.02 — 0.02 Less: Gain on investments, net — — 0.01 0.01 Less: Income tax expense related to gain on investments, net — — — — Basic excluding special items and gain on investments $ (0.66) $ (0.16) $ (1.52) $ (0.75) Diluted $ (0.66) $ (0.21) $ (1.51) $ (0.79) Add back: Special items — 0.07 — 0.07 Less: Income tax benefit related to special items — 0.02 — 0.02 Less: Gain on investments, net — — 0.01 0.01 Less: Income tax expense related to gain on investments, net — — — — Diluted excluding special items and gain on investments $ (0.66) $ (0.16) $ (1.52) $ (0.75) 21

22 Aircraft Deliveries (1) A220 A321neo (2) Total (3) 2026 (4) 12 - 12 2027 7 - 7 2028 11 - 11 2029 10 - 10 2030 1 2 3 Thereafter - 42 42 (1) Aircraft delivery timing and related committed expenditures are based on contractual schedules, adjusted for management's current expectations and recent communications from Airbus regarding delivery delays. Actual timing may differ due to production schedules, supply chain constraints, contractual modifications, regulatory matters and other factors. (2) Excludes one Airbus A321neo XLR, which JetBlue expects to sell following delivery of the aircraft. (3) In addition, we have options to purchase 20 A220-300 aircraft from 2028 through 2030. (4) Includes six aircraft delivered year to date in 2026. JetBlue’s contractual aircraft deliveries for full year as of June 30, 2026: Appendix B: Order Book

The JetBlue Way Forward | Our Strategic Evolution | Returning to Historical Earnings Power 23

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