JetBlue CEO Robin Hayes said he’s leaving the airline in February after more than eight years at the helm “on the advice of my doctor,” citing “the extraordinary challenges and pressure of this job [that] have taken their toll.”“It’s time I put more focus on my health and well-being,” the 57-year-old airline veteran announced in a press release on Monday.Hayes, who rose to the top job at JetBlue in 2015, will be succeeded by the company’s chief operating officer, Joanna Geraghty, effective Feb. 12.Hayes — ...

JetBlue Airways Corp. JBLU, +3.23% Chief Executive Robin Hayes will step down in February after nearly nine years at the helm, citing the advice of a doctor, the company said Monday. The resignation comes as a federal judge decides whether to block the airline’s merger with Spirit Airlines Inc. SAVE, +2.33% that Hayes championed. JetBlue President Joanna Geraghty will succeed Hayes to become the only woman in charge of a major U.S. airline. Hayes, who led JetBlue through the pandemic, spearheaded the launc ...

Robin Hayes, chief executive officer of JetBlue Airways Corp., during an interview in New York, on Friday, Feb. 17, 2023.JetBlue CEO Robin Hayes will step down next month, the company announced Monday. The airline's chief operating officer, Joanna Geraghty, will take the helm. Hayes will remain on the board of directors after he leaves his post on February 12 and will stay on as a strategic advisor. Geraghty will join the board. "It's bittersweet to retire from this airline I love, but I will always feel a ...

NEW YORK--(BUSINESS WIRE)--JetBlue Airways (NASDAQ: JBLU) today announced that Joanna Geraghty, currently the company’s president and chief operating officer, will succeed Robin Hayes as chief executive officer, effective February 12, 2024. Hayes will continue to serve on the company’s Board of Directors until that time, at which point Geraghty will join the Board. Hayes will serve as a strategic advisor to the company over the coming months. Hayes said: “It’s bittersweet to retire from this airline I love ...

One of the newest and fastest growing weapons in the fight against global warming is technology to remove carbon dioxide from the atmosphere, known as direct air capture. Some liken it to sucking CO2 out of the atmosphere. However, it's not a perfect science, and most methods require a lot of water. That is about to change, with new companies offering new strategies.Direct air capture is already a growing business, and governments around the world are adding to it, providing tax incentives and grants to hel ...

LOS ANGELES, Jan. 08, 2024 (GLOBE NEWSWIRE) -- FLYR, the AI-powered technology platform for travel, announced today that JetBlue (NASDAQ:JBLU) is extending its partnership with FLYR. The commercial agreement has been extended to continue to boost the airline's revenue optimization capabilities using decision intelligence powered by deep learning. As the travel and aviation industry emerges from the shadow of COVID-19, passenger numbers are skyrocketing past pre-pandemic levels. For example, a midyear survey ...

3Q23 Earnings Presentation October 31, 2023 ...

JetBlue Airways Corporation. (NASDAQ:JBLU) Q3 2023 Earnings Conference Call October 31, 2023 ET Company Participants Robin Hayes - Chief Executive Officer Joanna Geraghty - President and Chief Operating Officer Ursula Hurley - Chief Financial Officer Dave Clark - Head of Revenue and Planning Andres Barry - President of JetBlue Travel Products Conference Call Participants Savanthi Syth - Raymond James Daniel McKenzie - Seaport Global Jamie Baker - JPMorgan Conor Cunningham - Melius Research Shannon Doherty - ...

Financial Performance - In Q3 2023, the company reported a revenue decrease of 8.2%, or $209 million, year-over-year, totaling $2.4 billion[105]. - The operating loss for Q3 2023 was $156 million, with a net loss of $153 million, compared to a net income of $57 million in Q3 2022[110]. - Adjusted earnings per share for Q3 2023 was $(0.39), down from $0.21 in Q3 2022[110]. - The company expects Q4 2023 revenue to decrease between 10.5% and 6.5% compared to Q4 2022, while full-year revenue is projected to increase by 3.0% to 5.0%[109]. - For the nine months ended September 30, 2023, the company reported a net loss of $207 million, an operating loss of $163 million, and an operating margin of (2.2)%, compared to a net loss of $386 million and an operating margin of (5.1)% for the same period in 2022[125]. - Operating cash flows improved to $486 million for the nine months ended September 30, 2023, compared to $321 million in the same period of 2022[152]. - Free Cash Flow for the nine months ended September 30, 2023, was $(287) million, compared to $(278) million in the same period of 2022[179]. - Total operating revenues for the three months ended September 30, 2023, were $2,353 million, a decrease of 8.2% from $2,562 million in the same period of 2022[175]. - Total operating expenses for the three months ended September 30, 2023, increased to $2,509 million, up 3.6% from $2,423 million in the same period of 2022[175]. - Operating loss for the three months ended September 30, 2023, was $(156) million compared to an operating income of $139 million in the same period of 2022[175]. - Net loss for the three months ended September 30, 2023, was $(153) million, compared to a net income of $57 million in the same period of 2022[177]. Revenue and Passenger Metrics - Passenger revenue increased by $523 million, or 8.3%, to $6,842 million for the nine months ended September 30, 2023, driven by an 11.1% increase in revenue passengers[126]. - Revenue passengers increased to 10,911 thousand for the three months ended September 30, 2023, up 3.9% from 10,502 thousand in the same period last year[141]. - Revenue passenger miles (RPMs) rose to 14,777 million, a 5.8% increase from 13,963 million year-over-year[141]. - The average fare decreased by 12.3% to $201.73, while passenger yield per mile dropped by 13.9% to 14.89 cents[112]. - Average fare decreased to $201.73, down 12.3% from $229.95 in the prior year[141]. Operating Expenses - Operating expenses increased by $369 million, or 5.2%, to $7,453 million for the nine months ended September 30, 2023, with special items contributing $111 million to this increase[129]. - Salaries, wages, and benefits increased by 17.0%, or $115 million, in Q3 2023, primarily due to a new pilot union contract[117]. - Aircraft fuel and related taxes decreased by 17.8%, or $147 million, with the average fuel price dropping by 23.3% to $2.94 per gallon[116]. - Other operating expenses increased by $103 million, or 10.0%, driven by increased demand and costs associated with ATC delays and weather-related disruptions[137]. - Landing fees and other rents increased by $87 million, or 21.1%, due to rate increases and a 6.4% rise in departures[132]. - Salaries, wages, and benefits rose by $246 million, or 12.0%, primarily due to a new pilot union contract that included a 14% initial pay rate increase[131]. - Aircraft fuel and related taxes decreased by $262 million, or 11.4%, with the average fuel price dropping by 18.0% to $3.02 per gallon[130]. Fleet and Capacity - System capacity increased by 7.1% in Q3 2023 compared to Q3 2022, with available seat miles (ASMs) reaching 17,362 million[112]. - As of September 30, 2023, the total fleet consisted of 296 aircraft, with 231 owned and 65 leased under operating leases[161]. - The average age of the operating fleet was 12.6 years as of September 30, 2023[161]. - The aircraft order book includes 137 aircraft scheduled for delivery from 2023 to 2027, with 56 Airbus A321neo and 81 Airbus A220[164]. Future Outlook and Risks - The company expects operating results to fluctuate significantly due to external factors, including air traffic controller shortages and supply chain disruptions[141]. - The company anticipates continued increases in expenses as it acquires additional aircraft and expands flight frequencies[141]. - The company anticipates using a mix of cash and debt financing for aircraft scheduled for delivery in 2023, with potential increases in fixed costs regardless of financing method[164]. - A hypothetical 10% increase in aircraft fuel costs would result in an additional expense of approximately $312 million over the next 12 months[182]. - As of September 30, 2023, the company has hedged approximately 31% of its fuel requirements for the fourth quarter of 2023[182]. - The company has $3.9 billion of fixed-rate debt, with $113 million subject to floating interest rates[183]. - If interest rates were to increase by 100 basis points, the annual interest expense would rise by approximately $1 million[183]. Special Items and Non-GAAP Measures - Special items for the nine months ended September 30, 2023 included $104 million related to union contract costs and $64 million related to Spirit acquisition costs[138]. - Special items for the three and nine months ended September 30, 2023, included Spirit acquisition costs and union contract costs[172]. - The company believes that non-GAAP financial measures provide useful supplemental information for comparing results to others in the airline industry[169]. - The company is unable to provide a reconciliation of CASM ex-fuel guidance to GAAP CASM due to the unpredictability of certain excluded items[172].

2Q23 Earnings Presentation August 1, 2023 ...