JetBlue reported a $257 million third-quarter net loss on October 26, compared with a $143 million loss a year earlier, as higher fuel costs offset stronger revenue.
The airline’s earnings exhibit lists revenue of $2.812 billion, up 21.1%. Operating expenses increased to $2.956 billion from $2.422 billion, and the operating loss widened to $144 million from $100 million.
JetBlue paid an average $3.91 per gallon for fuel during the July–September quarter, 57% more than a year earlier. Revenue per available seat mile increased 18.4%.
Excluding specified items, the airline reported a $226 million net loss. That adjusted figure is separate from its GAAP loss.
The company ended the quarter with $2.2 billion in liquidity, including a $600 million undrawn credit facility. Liquidity including available borrowing is not identical to cash on hand.
JetBlue’s full-year unit-revenue-growth outlook is 13.5% to 14.5%. Its earnings call is scheduled for October 27; the filing records results released October 26.
Sources: JetBlue — October 26 Form 8-K, earnings exhibit, reproduced by Stock Titan: https://www.stocktitan.net/sec-filings/JBLU/8-k-jetblue-airways-corp-reports-material-event-67d135886c59.html