JBLU JETBLUE AIRWAYS CORP

Overview and Growth

In fiscal 2025, JETBLUE AIRWAYS CORP recorded $9.06B of revenue, net loss of $602.00M, and an operating cash outflow of $94.00M. At $9.06B, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. Revenue was 2.3% below fiscal 2024 revenue of $9.28B, marking a top-line contraction. On a per-share basis, diluted EPS was -$1.66, which connects the reported earnings outcome with the company’s diluted share count. The diluted weighted-average share count was 362.10M, linking total earnings with the per-share result received by shareholders. The company employed $16.57B of total assets, the balance-sheet base supporting its current operating and cash-flow results. Revenue equaled 0.55x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

Operations produced a $368.00M operating loss before non-operating and tax effects. The operating loss equaled 4.1% of revenue, showing the scale of the operating deficit relative to sales. After all below-operating-line items, the company recorded a net loss of $602.00M for the fiscal year. The net loss equaled 6.6% of revenue, showing the bottom-line deficit relative to the company’s sales base. EBITDA was $320.00M, adding a pre-interest, tax, depreciation, and amortization view of the company’s earnings capacity. Before income taxes, the company recorded a loss of $774.00M, bridging the operating result to the final net loss. Pretax margin was -8.5%, reflecting a pre-tax loss equal to 8.5% of revenue. An income-tax benefit of $172.00M improved the final result relative to pretax income or loss. The net loss equaled 28.4% of period-end equity, showing the deficit relative to book capital. The net loss equaled 3.6% of period-end assets, showing the deficit relative to the asset base. The net loss narrowed to $602.00M from $795.00M in fiscal 2024.

Liquidity and Capital Structure

The company held $16.57B of assets against $14.45B of liabilities and $2.12B of equity, revealing how the asset base was financed. At period end, current assets of $3.24B compared with current liabilities of $4.40B, defining the company’s short-term resource position. The current ratio was 0.74x; current liabilities exceeded current assets, leaving a short-term liquidity deficit. Reported cash and equivalents were $1.95B, separating immediately recognizable cash resources from the rest of the current-asset base. Measured only with cash and equivalents, coverage of current liabilities was 44.2%, excluding receivables and other current assets. The equity-to-assets relationship was 12.8%, placing book capital against the total resource base. Liabilities represented 87.2% of total assets, quantifying the liability-funded share of the company’s resource base. The cash-to-assets relationship was 11.7%, comparing reported cash and equivalents with the full positive asset balance. Compared with $16.84B in fiscal 2024, the current asset base moved 1.6% and finished lower. Book equity was 19.7% lower than fiscal 2024 equity of $2.64B, showing how shareholder capital changed year over year. Cash and equivalents were 1.3% higher than fiscal 2024 cash of $1.92B, showing the year-over-year change in liquid resources.

Cash Flow and Earnings Quality

Cash flow from operations was an outflow of $94.00M, showing that operations absorbed cash during the period. Capital expenditures used $1.08B in addition to the operating cash outflow, increasing the total cash consumed by operations and investment during the period. Operating cash flow and capital spending combined to leave a $1.17B cash deficit after capital spending. Relative to revenue, the post-investment cash deficit represented 12.9%. The free-cash-flow deficit equaled 7.1% of total assets, placing the cash shortfall against the company’s resource base. The company shifted from generating $144.00M of operating cash in fiscal 2024 to absorbing $94.00M.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.