Jetblue’s Loss Deepens as Creditors Seek Financial Advice

WHO:

CNBC - JetBlue Airways CEO Joanna Geraghty said resilient demand and strong yields boosted revenue beyond expectations and helped offset fuel-cost increases.

CNBC - JetBlue CFO Ursula Hurley said the airline believes it has liquidity and financing options to bridge to at least $1 per share in earnings and positive free cash flow in 2028.

Fox Business - JetBlue senior creditors reportedly hired PJT Partners and law firm Akin as financial and legal advisers, according to the Wall Street Journal, which cited people familiar with the matter.

Fox Business - Bloomberg reported that the creditor group includes holders of $2 billion in bonds and a $742 million secured loan.

Fox Business - PJT Partners declined to comment; Fox Business said it contacted JetBlue and Akin for comment.

WHAT:

CNBC - JetBlue reported a third-quarter net loss of $257 million, compared with $143 million a year earlier. Its adjusted loss was 60 cents per share, versus the 55-cent loss expected; revenue was $2.81 billion, compared with $2.82 billion expected.

CNBC - JetBlue’s third-quarter fuel bill rose 61% to $868 million. Average fares increased more than 19%, from $205.67 to $245.11.

CNBC - JetBlue ended the quarter with $2.2 billion in liquidity, $7 billion in unencumbered assets—including $2.8 billion in aircraft and engines—and $8.4 billion in total debt.

CNBC - JetBlue shares rose roughly 11% in after-hours trading after reaching a new low.

CNBC - JetBlue last posted an annual profit in 2019. Its turnaround plan includes cost cuts and investment in premium seats, including a new domestic first-class section.

Fox Business - JetBlue’s senior secured notes due in 2031, totaling roughly $2 billion, reportedly fell to about 42 cents on the dollar before recovering to the mid-40-cent range; they had traded near 80 cents the prior month.

Fox Business - JetBlue’s shares reportedly fell roughly 58% since the beginning of August. Its second-quarter filing showed approximately $8.5 billion in debt and finance lease obligations.

Fox Business - JetBlue’s second-quarter net loss was $247 million, versus $74 million a year earlier. Revenue rose 14.5% to $2.7 billion, while operating expenses climbed 20.8%.

Fox Business - Second-quarter fuel expenses rose 80.7% year over year to $911 million; the average price per gallon increased to $4.23 from $2.40.

Fox Business - JetBlue reached a $500 million aircraft-backed financing agreement and reported about $2.2 billion in unrestricted cash, cash equivalents and investment securities, plus a $600 million undrawn credit facility.

Fox Business - Management said JetForward generated $470 million in cumulative incremental earnings before interest and taxes through June.

WHERE:

CNBC - JetBlue is headquartered in New York; its CEO cited exceptional results in Fort Lauderdale. The airline operates in the congested Northeast U.S. market.

CNBC - JetBlue has a partnership with United Airlines.

WHEN:

CNBC - JetBlue’s earnings call was scheduled for Tuesday at 10 a.m. ET.

Fox Business - JetBlue’s third-quarter results were scheduled to be reported Tuesday, Oct. 27.

WHY:

CNBC - Higher fuel costs contributed to JetBlue’s larger quarterly loss; strong travel demand and higher fares helped offset the expense.

Fox Business - Rising fuel costs and falling bond prices increased financial pressure as JetBlue worked to restore profitability. Higher jet-fuel prices linked to the Iran war pressured U.S. airline margins.

HOW:

CNBC - JetBlue sought to acquire Spirit Airlines, but a federal judge blocked the deal as anticompetitive. A judge also blocked its regional partnership with American Airlines; JetBlue later established a partnership with United Airlines.

Fox Business - Creditors hired advisers to assess their options; the article noted such hiring does not necessarily indicate imminent bankruptcy or debt restructuring.

(UPDATED October 26, 2026 22:09 UTC)

JetBlue reported a third-quarter loss of $257 million, wider than the $143 million loss a year earlier, as fuel costs surged, while its adjusted loss of 60 cents a share was worse than expected and revenue came in slightly below forecasts. CEO Joanna Geraghty said strong demand and higher fares helped offset fuel expenses, and the airline said it had $2.2 billion in liquidity; shares rose about 11% in after-hours trading. Senior creditors reportedly hired financial and legal advisers as they assess their options, while JetBlue’s finance chief said the company believes it can bridge to earnings of at least $1 a share and positive free cash flow in 2028.