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FinanceJetBlue Q2 net loss widens to $247M as fuel costs surge 81%
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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.
Source report
Cris Tolomia Tue, July 28, 2026 at 6:41 AM PDT 2 min read
JBLU -2.48%
JetBlue Airways reported a net loss of $247 million in the second quarter of 2026, widening from a $74 million loss in the same period a year earlier, as a sharp increase in fuel costs outpaced stronger revenue.
Key Financial Highlights
- Net loss: $247 million (vs. $74 million loss in Q2 2025)
- Total operating revenue: $2.7 billion (up 14.5% year-over-year)
- Revenue per available seat mile: Up 10.9% year-over-year
- Adjusted loss per share: $0.66 (vs. analyst expectations of $0.71 loss per share, per Reuters)
Fuel Costs
- Total jet fuel spend: $911 million (up nearly 81% year-over-year)
- Average fuel price: $4.23 per gallon (up from $2.40 per gallon a year earlier)
- Fuel cost recapture: Nearly 50% during the quarter, exceeding the company's prior expectation of 30% to 40%
Full-Year 2026 Outlook
JetBlue reinstated its full-year 2026 outlook, which it had previously withheld:
- Revenue per available seat mile growth: 10% to 12.5% year-over-year
- Average jet fuel price: $3.49 per gallon
- Adjusted operating margin: Negative 2% to negative 5%
Long-Term Target
JetBlue introduced a 2028 earnings target of at least $1.00 per share, based on continued demand strength and an assumed average jet fuel price of $3.00 per gallon.
JetForward Transformation Program
- Cumulative incremental EBIT through June 2026: $470 million
- Target annual incremental EBIT by end of 2027: $850 million to $950 million
- Expected benefits by 2028: Approximately $1.2 billion
Management Commentary
"Our second quarter results demonstrate the progress we're making on the levers within our control," said Chief Financial Officer Ursula Hurley.
Chief Executive Officer Joanna Geraghty added that strong customer demand and cost controls enabled the airline to recover fuel costs faster than anticipated.
Context
The results follow a net loss of $319 million in the first quarter of 2026, which was wider than the $208 million loss in Q1 2025 and missed Wall Street estimates. At that time, JetBlue projected fuel costs would rise to $4.13–$4.28 per gallon in Q2 and flagged plans to cut capacity during off-peak periods, with full fuel cost recapture expected by early 2027.
Source
Yahoo FinanceWestern
Part of this Story
JetBlue Q2 2026 Earnings: Wider Loss as Fuel Costs Surge 81%