JetBlue Q2 2026 Earnings: Wider Loss as Fuel Costs Surge 81%

JetBlue Airways reported a net loss of $247 million in Q2 2026, significantly wider than the $74 million loss in the same period a year earlier, driven by an 81% surge in fuel costs to $911 million. The airline paid an average of $4.23 per gallon of jet fuel, up from $2.40 a year ago, but recaptured nearly 50% of higher fuel costs, exceeding its 30-40% expectation. Total operating revenue rose 14.5% to $2.7 billion, with revenue per available seat mile growing 10.9%. Adjusted loss per share was 66 cents, beating analyst expectations of a 71-cent loss. JetBlue reinstated its full-year 2026 outlook, projecting revenue per available seat mile growth of 10-12.5% and an adjusted operating margin of negative 2% to negative 5%. The company also introduced a long-term earnings target of at least $1.00 per share for 2028, assuming $3.00 per gallon jet fuel. The JetForward transformation program has generated $470 million in cumulative incremental EBIT through June 2026, on track to reach $850-950 million annually by end of 2027.