Financial Analysis

"Termination of Merger Agreement with Spirit The Merger Agreement On March 1, 2024, JetBlue and Spirit and Merger Sub entered into a termination agreement with respect to their merger agreement (the ""Termination Agreement""), subject to limited exceptions related to JetBlue's previously agreed indemnification obligations. Pursuant to the Termination Agreement, JetBlue agreed to pay the $69 million breakup fee on March 5, 2024, which was recorded in special items on the consolidated statements of operations. The parties also agreed to release each other from claims, demands, damages, actions, causes of action and liability relating to or arising out of the Merger Agreement and the transactions contemplated therein or thereby. In accordance with the terms of the Merger Agreement, on a monthly basis between January 2023 and February 2024, JetBlue paid to the holders of record of outstanding Spirit shares an amount in cash equal to $0.10 per Spirit share (such amount, the ""Additional Prepayment Amount"", and each such monthly payment, an ""Additional Prepayment""). In 2024, JetBlue made an aggregate of $22 million in Additional Prepayments to Spirit shareholders resulting in a total prepayment of $425 million. These Additional Prepayments were written off in March 2024, in addition to the $25 million reimbursement payment to Spirit in connection with the Frontier transaction costs as a result of the termination of the Merger Agreement. The write off is recorded in special items …

BusinessCombinationDisclosureTextBlock · excerpt; the full note is in the filing

"Long-term Debt, Short-term Borrowings, and Finance Lease Obligations Long-term debt and finance lease obligations and the related weighted average contractual interest rate at December 31, 2025 and 2024 consisted of the following (in millions): December 31, 2025 December 31, 2024 Secured Debt Fixed rate special facility bonds, due through 2036 $ 43 5.0 % $ 43 5.0 % Fixed rate enhanced equipment notes: 2019-1 Series AA, due through 2032 424 2.8 % 452 2.8 % 2019-1 Series A, due through 2028 132 3.0 % 141 3.0 % 2019-1 Series B, due through 2027 45 8.1 % 58 8.1 % 2020-1 Series A, due through 2032 428 4.1 % 469 4.1 % 2020-1 Series B, due through 2028 82 7.8 % 100 7.8 % Fixed rate equipment notes, due through 2028 127 4.0 % 219 4.3 % Floating rate equipment notes, due through 2036 (1) 673 6.7 % 742 7.4 % Aircraft failed sale-leaseback trans actions, due through 2036 (1) 2,103 6.9 % 2,221 7.0 % TrueBlue senior secured notes, due through 2031 1,990 9.9 % 1,988 9.9 % TrueBlue senior secured term loan facility, due through 2029 (1) 744 8.8 % 749 9.9 % Finance leases 449 6.3 % 116 5.8 % Unsecured Debt Unsecured CARES Act Payroll Support Program loan, due through 2030 259 2.0 % 259 2.0 % Unsecured Consolidated Appropriations Act Payroll Support Program Extension loan, due through 2031 144 2.0 % 144 2.0 % Unsecured American Rescue Plan Act of 2021 Payroll Support loan, due through 2031 132 2.0 % 132 2.0 % 0.50% convertible senior notes, due through 2026 325 0.5 % 325 0.5 % 2.50% converti …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

The following table provides revenue recognized by revenue source for the years ended December 31, 2025, 2024, and 2023 (in millions): Twelve Months Ended December 31, 2025 2024 2023 Passenger revenue Passenger travel $ 7,667 $ 7,983 $ 8,403 Loyalty revenue - air transportation 669 634 605 Other revenue Loyalty revenue 521 464 422 Other revenue 205 198 185 Total operating revenue $ 9,062 $ 9,279 $ 9,615

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"Share-Based Compensation We have various equity incentive plans under which we have granted stock awards to our eligible crewmembers and members of our Board of Directors (""Board""). For the years ended 2025 , 2024 , and 2023 , stock awards were granted under the JetBlue Airways Corporation 2020 Omnibus Equity Incentive Plan, (""2020 Plan""). Unrecognized stock-based compensation expense was approximately $37 million as of December 31, 2025. This amount relates to a total of 10.7 million in unvested restricted stock units (""RSUs""), performance stock units (""PSUs""), and deferred stock units (""DSUs"") that were outstanding under our 2020 Plan. We expect to recognize this stock-based compensation expense over a weighted average period of approximately 20 months. The total stock-based compensation expense, which is included within salaries, wages and benefits on our consolidated statements of operations, for the years ended December 31, 2025, 2024, and 2023 was $40 million, $39 million , and $39 million, respectively. 2020 Omnibus Equity Incentive Plan On May 14, 2020, our stockholders approved the 2020 Plan. Upon inception, the 2020 Plan had 10.5 million shares of our common stock reserved for issuance. In May 2023 and 2024, our stockholders approved an additional 10.0 million and 15.0 million shares of common stock, respectively, to be reserved for issuance under the plan, bringing the total authorized shares reserved for issuance over the term of the 2020 Plan to 35.5 m …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

Fair Value Under Topic 820, Fair Value Measurement of the FASB Codification, disclosures are required about how fair value is determined for assets and liabilities and a hierarchy for which these assets and liabilities must be grouped is established, based on significant levels of inputs as follows: Level 1 - observable inputs such as unadjusted quoted prices in active markets for identical assets or liabilities; Level 2 - quoted prices in active markets for similar assets and liabilities, and other inputs that are observable directly or indirectly for the asset or liability; or Level 3 - unobservable inputs for the asset or liability, such as discounted cash flow models or valuations. The determination of where assets and liabilities fall within this hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The following is a listing of our assets required to be measured at fair value on a recurring basis and where they are classified within the fair value hierarchy as of December 31, 2025 and 2024 (in millions): As of December 31, 2025 Level 1 Level 2 Level 3 Total Assets Cash equivalents $ 1,628 $ 18 $ $ 1,646 Restricted cash equivalents 72 72 Available-for-sale investment securities 60 7 67 As of December 31, 2024 Level 1 Level 2 Level 3 Total Assets Cash equivalents $ 1,921 $ $ $ 1,921 Restricted cash equivalents 89 89 Available-for-sale investment securities 1,609 12 1,621 Refer to Note 3 for fair value information related to o …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

"Income Taxes Our income tax benefit (expense) consisted of the following for the years ended December 31 (in millions): 2025 2024 2023 Deferred: Federal $ 158 $ 93 $ 43 State 25 28 6 Foreign (11) (22) Deferred income tax benefit 183 110 27 Current: Federal 1 State (3) 1 Foreign (8) (8) (5) Current income tax expense (11) (8) (3) Total income tax benefit $ 172 $ 102 $ 24 On March 27, 2020, the CARES Act was enacted in response to the COVID-19 pandemic. The CARES Act permits net operating loss (""NOL"") carryovers and carrybacks to offset 100% of taxable income for taxable years beginning before 2021. In addition, the CARES Act allows NOLs incurred in 2018, 2019, and 2020 to be carried back to each of the five preceding taxable years to generate a refund of previously paid income taxes. As of December 31, 2025, the Company has filed an application for refund. Our income tax benefit reconciles to the amount computed below by applying the U.S. federal statutory income tax rate to our loss before income taxes for the years ended December 31 as follows (in millions): 2025 2024 2023 Income tax benefit at statutory rate $ 163 21.0 % $ 188 21.0 % $ 70 21.0 % State income tax, net of federal benefit (a) New York City 12 1.6 % 13 1.5 % 4 1.2 % Other states 11 1.4 % 15 1.7 % 3 0.9 % Foreign income tax effects Puerto Rico Changes in valuation allowance 105 13.6 % (15) (1.7) % (4) (1.2) % Tax holiday (61) (7.9) % % % Other % 11 1.2 % (4) (1.2) % Other Foreign Countries (8) (1.0) % (20) (2 …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

Leases Operating lease assets represent our right to use an underlying asset for the lease term, and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease assets and liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. When available, we use the rate implicit in the lease to discount lease payments to present value. For leases that do not provide a readily determinable implicit rate, we estimate our incremental borrowing rate to discount the lease payments based on information available at lease commencement. Leases with a term of 12 months or less are not recorded on the balance sheet. Our lease agreements do not contain any residual value guarantees. For facility leases, we account for the lease and non-lease components as a single lease component. The table below presents the lease-related assets and liabilities recorded on our consolidated balance sheets as of December 31, 2025 and 2024 (in millions): As of December 31, 2025 2024 Assets Classification on Balance Sheet Operating lease assets Operating lease assets $ 868 $ 550 Finance lease assets Property and equipment, net 444 115 Total lease assets $ 1,312 $ 665 Liabilities Classification on Balance Sheet Current: Operating lease liabilities Current operating lease liabilities $ 79 $ 93 Finance lease liabilities Current maturities of long-term debt and finance lease obligations 79 15 Long-t …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

Recently Issued Accounting Pronouncements Recently Adopted Standards Accounting Standards Update 2023-09Income Taxes (Topic 740): Improvements to Income Tax Disclosures (ASU 2023-09) ASU 2023-09 requires disaggregated information about a reporting entity's effective tax rate reconciliation as well as information on income taxes paid. ASU 2023-09 requires disaggregation of the effective tax rate reconciliation at a threshold of 5% of our federal rate of 21%. Income taxes paid (net of refunds received) is required to be disaggregated by federal, state and foreign jurisdictions. The disaggregation is based on a quantitative threshold of 5% of total income taxes paid, net of refunds received. Income (loss) before income tax benefit (expense) is also required to be disaggregated between domestic and foreign jurisdictions. ASU 2023-09 eliminates the requirement to disclose details of tax positions for which the amount of unrecognized tax benefits may significantly increase or decrease in the next 12 months. The Company has adopted the standard effective December 31, 2025 on a prospective basis, and it did not have a material impact on the Company's consolidated financial statements. Standards Effective in Future Years Accounting Standards Update 2024-03 Income Statement Reporting Comprehensive Income Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (ASU 2024-03) ASU 2024-03 requires entities to disclose disaggregated information rega …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

"Crewmember Retirement Plan We sponsor a retirement savings 401(k) defined contribution plan, covering our U.S. and Puerto Rico crewmembers, where we match 100% of our eligible crewmember's contributions up to 5% of their eligible wages. Employer contributions vest after three years of service and are measured from a crewmember's hire date. Crewmembers are vested immediately in their voluntary contributions. In 2022 and 2023, certain Federal Aviation Administration (""FAA"") licensed crewmembers received a discretionary contribution of 3% of eligible compensation, which we refer to as Retirement Advantage . As of January 2024, the Retirement Advantage program ended and these licensed Crewmembers now receive a discretionary contribution of 8% of eligible compensation, which we refer to as Retirement Non-elective Licensed Crewmember contributions. System controllers also receive a Company discretionary contribution of 5% of eligible compensation, referred to as Retirement Non-elective Crewmember contributions. The Company's non-elective contributions vest after three years of service. Our Pilots receive a non-elective Company contribution of 17% of eligible compensation, referred to as Pilot Non-elective contributions, per the terms of the finalized collective bargaining agreement between JetBlue and the Air Line Pilots Association (""ALPA""), in lieu of the above 401(k) Company matching contribution and non-elective contributions . The Company's Pilot Non-elective contribution …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

Revenue Recognition The Company categorizes revenue recognized from contracts with its customers by revenue source as we believe it best depicts the nature, amount, timing, and uncertainty of our revenue and cash flow. The following table provides revenue recognized by revenue source for the years ended December 31, 2025, 2024, and 2023 (in millions): Twelve Months Ended December 31, 2025 2024 2023 Passenger revenue Passenger travel $ 7,667 $ 7,983 $ 8,403 Loyalty revenue - air transportation 669 634 605 Other revenue Loyalty revenue 521 464 422 Other revenue 205 198 185 Total operating revenue $ 9,062 $ 9,279 $ 9,615 TrueBlue is our customer loyalty program designed to reward and recognize our customers. TrueBlue points earned from ticket purchases are recorded as a reduction to Passenger travel within passenger revenue. Amounts presented in Loyalty revenue - air transportation represent revenue recognized when TrueBlue points have been redeemed and travel has occurred. Loyalty revenue within other revenue primarily consists of the non-air transportation elements from the sale of TrueBlue points. Contract Liabilities Our contract liabilities primarily consist of ticket sales for which transportation has not yet been provided, unused credits available to customers, and outstanding loyalty points available for redemption (in millions): December 31, 2025 December 31, 2024 Air traffic liability - passenger travel (1) $ 1,123 $ 1,073 Air traffic liability - loyalty program (air t …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

"Operating Segments and Geographic Information Operating Segments JetBlue has one reportable operating segment, air transportation services. Air transportation services accounted for substantially all of the Company's operations in 2025, 2024, and 2023. We provide air transportation services across the United States, the Caribbean, Latin America, Canada, and Europe and manage the business activities on a consolidated basis. The accounting policies of the air transportation services segment are described in Note 1 - Summary of Significant Accounting Policies. JetBlue's chief operating decision maker (""CODM"") is our executive leadership team, which includes our Chief Executive Officer, President, Chief Financial Officer, and Chief Operating Officer. The CODM assesses performance for the air transportation segment which includes our loyalty program, and decides how to allocate resources based on net income (loss), which is reported on the consolidated statements of operations. The measure of segment assets is reported on the consolidated balance sheets as total assets. Our tangible assets primarily consist of our fleet of aircraft. The CODM reviews flight profitability data, which incorporates aircraft type and route economics in making resource allocation decisions. Our fleet is deployed systemwide and substantially all of our aircraft may be deployed across any of our geographic regions, without giving weight on geographic results and therefore, our assets do not require an …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

"Summary of Significant Accounting Policies Basis of Presentation JetBlue provides air transportation services across the United States, Latin America, the Caribbean, Canada, and Europe. Our consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (""GAAP""), and include the accounts of JetBlue and our subsidiaries. All majority-owned subsidiaries are consolidated with all intercompany transactions and balances being eliminated. Unless otherwise noted, all amounts disclosed are stated before consideration of income taxes. Use of Estimates The preparation of our consolidated financial statements and accompanying notes in conformity with GAAP requires us to make certain estimates and assumptions. Actual results could differ from those estimates. Fair Value The Fair Value Measurements and Disclosures Topic of the Financial Accounting Standards Board (the ""FASB"") Accounting Standards Codification (""ASC"" or the ""Codification"") establishes a framework for measuring fair value and requires enhanced disclosures about fair value measurements. This topic clarifies that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The topic also requires disclosure about how fair value is determined for assets and liabilities and establishes a hierarchy for which these assets and liabiliti …

SignificantAccountingPoliciesTextBlock · excerpt; the full note is in the filing

Stockholders' Equity As of December 31, 2025, we had a total of 19.2 million shar es of common stock reserved for issuance. These shares are primarily related to our equity incentive plans. Refe r to Note 7 for further details on our share-based compensation. As of December 31, 2025, we had a total of 161.8 million sh ares of treasury stock. The treasury stock reflected on our consolidated statement of cash flows and consolidated statement of stockholders' equity for the year ended December 31, 2025 represents the return of shares to satisfy tax payments associated with crewmember stock compensation that vested during the period.

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"Commitments and Contingencies Flight Equipment Commitments As of June 30, 2026, our committed expenditures for aircraft and related flight equipment, including estimated amounts for contractual price escalations and pre-delivery deposits, are set forth in the table below (in millions): Flight Equipment Commitments Year Total Remainder of 2026 (1) $ 337 2027 383 2028 525 2029 444 2030 338 Thereafter 3,444 Total $ 5,471 (1) Includes obligations for one Airbus A321neo XLR variant aircraft which is expected to be sold following delivery of the aircraft. The aircraft is anticipated to deliver in the third quarter of 2026. Our committed aircraft deliveries as of June 30, 2026 include the following aircraft: Flight Equipment Deliveries (1) Year Airbus A220 Airbus A321neo (2) Total Remainder of 2026 6 1 7 2027 7 7 2028 11 11 2029 10 10 2030 1 2 3 Thereafter 42 42 Total (3) 35 45 80 (1) The timing of aircraft deliveries and related committed expenditures presented in the table above is based on contractual delivery schedules, adjusted for delivery delays based on management's current expectations as of the date of this filing. These expectations reflect recent communications from Airbus regarding delivery delays resulting from global supply chain disruptions. Actual delivery timing may differ from the periods presented and remains subject to change due to manufacturer production schedules, supply chain constraints, contractual modifications, regulatory matters and other factors. (2) …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

"Long-term Debt, Short-term Borrowings, and Finance Lease Obligations During the six months ended June 30, 2026, we made principal payments of $570 million on our outstanding debt and finance lease obligations. At June 30, 2026, we had pledged aircraft, engines, other equipment, and facilities assets with a net book value of $8.1 billion as security under various financing arrangements. In addition, certain TrueBlue program assets have been pledged as part of the financing of the TrueBlue program. At June 30, 2026, scheduled maturities of our long-term debt and finance lease obligations, net of debt issuance costs, for the next five years were as follows (in millions): Year Total Remainder of 2026 $ 236 2027 478 2028 582 2029 1,835 2030 656 Thereafter 4,691 Total $ 8,478 Long-term debt and finance lease obligations at June 30, 2026 and December 31, 2025 consisted of the following (in millions): June 30, 2026 December 31, 2025 Secured Debt Fixed rate special facility bonds, due through 2036 $ 43 $ 43 Fixed rate enhanced equipment notes: 2019-1 Series AA, due through 2032 409 424 2019-1 Series A, due through 2028 128 132 2019-1 Series B, due through 2027 38 45 2020-1 Series A, due through 2032 407 428 2020-1 Series B, due through 2028 73 82 Fixed rate equipment notes, due through 2036 600 127 Floating rate equipment notes, due through 2036 (1) 638 673 Aircraft failed sale-leaseback transactions, due through 2036 (1) 2,042 2,103 TrueBlue senior secured notes, due through 2031 1, …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

The following table provides revenue recognized by revenue source for the three and six months ended June 30, 2026 and 2025 (in millions): Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Passenger revenue Passenger travel $ 2,286 $ 1,998 $ 4,158 $ 3,792 Loyalty revenue - air transportation 201 181 377 357 Other revenue Loyalty and related revenue 151 128 288 249 Other revenue 59 49 114 98 Total operating revenue $ 2,697 $ 2,356 $ 4,937 $ 4,496

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Fair Value Under Topic 820, Fair Value Measurement of the FASB Codification, disclosures are required about how fair value is determined for assets and liabilities and a hierarchy for which these assets and liabilities must be grouped is established, based on significant levels of inputs as follows: Level 1 - observable inputs such as unadjusted quoted prices in active markets for identical assets or liabilities; Level 2 - quoted prices in active markets for similar assets and liabilities, and other inputs that are observable directly or indirectly for the asset or liability; or Level 3 - unobservable inputs for the asset or liability, such as discounted cash flow models or valuations. The determination of where assets and liabilities fall within this hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The following is a listing of our assets required to be measured at fair value on a recurring basis and where they are classified within the fair value hierarchy as of June 30, 2026 and December 31, 2025 (in millions): June 30, 2026 Level 1 Level 2 Level 3 Total Assets Cash equivalents $ 1,280 $ 17 $ $ 1,297 Restricted cash equivalents 73 73 Available-for-sale investment securities 66 6 72 December 31, 2025 Level 1 Level 2 Level 3 Total Assets Cash equivalents $ 1,628 $ 18 $ $ 1,646 Restricted cash equivalents 72 72 Available-for-sale investment securities 60 7 67 Refer to Note 3 for fair value information related to our outstand …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

"Income Taxes We account for income taxes utilizing the liability method. Deferred income taxes are recognized for the tax consequences of temporary differences between the tax and financial statement reporting bases of assets and liabilities. A valuation allowance for deferred tax assets is provided unless realization of the asset is judged by us to be more likely than not. Our policy is to recognize interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense. For the three and six months ended June 30, 2026, we recorded an income tax benefit of $24 million and $41 million, respectively, resulting in an effective tax rate of 8.7% and 6.7%, respectively. The forecasted annual effective tax rate differs from the U.S. federal statutory rate primarily due to state income taxes, foreign income taxes, permanent book-tax differences, and the impact of a valuation allowance recorded against certain deferred tax assets. Our deferred tax assets primarily relate to net operating loss (""NOL"") carryforwards. Our ability to use our NOL and other carryforwards depends on the amount of taxable income generated in future periods. In evaluating the realizability of the deferred tax assets, we assess whether it is more likely than not that some portion, or all, of the deferred tax assets will be realized. We consider, among other things, the generation of future taxable income from the reversals of deferred tax liabilities, during the periods in which …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

"Crewmember Retirement Plan We sponsor a retirement savings 401(k) defined contribution plan, covering our U.S. and Puerto Rico crewmembers, where we match 100% of our eligible crewmember's contributions up to 5% of their eligible wages. Employer contributions vest after three years of service and are measured from a crewmember's hire date. Crewmembers are vested immediately in their voluntary contributions. Certain Federal Aviation Administration (""FAA"") licensed crewmembers receive a discretionary contribution of 8% of eligible compensation, which we refer to as Retirement Non-elective Licensed Crewmember Contribution . System controllers also receive a Company discretionary contribution of 5% of eligible compensation, referred to as Retirement Non-elective Crewmember Contribution . The Company's non-elective contributions vest after three years of service. Our Pilots receive a non-elective Company contribution of 17% of eligible compensation, referred to as Pilot Non-elective Contribution , per the terms of the finalized collective bargaining agreement between JetBlue and the Air Line Pilots Association (""ALPA""), in lieu of the above 401(k) Company matching contribution and non-elective contributions. The Company's Pilot Non-elective contributions vest after three years of service. Total 401(k) company match and non-elective crewmember contribution expense for each of the three months ended June 30, 2026 and 2025 was $74 million, and for the six months ended June 30, 2 …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

Revenue Recognition The Company categorizes revenue recognized from contracts with its customers by revenue source as we believe it best depicts the nature, amount, timing, and uncertainty of our revenue and cash flow. The following table provides revenue recognized by revenue source for the three and six months ended June 30, 2026 and 2025 (in millions): Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Passenger revenue Passenger travel $ 2,286 $ 1,998 $ 4,158 $ 3,792 Loyalty revenue - air transportation 201 181 377 357 Other revenue Loyalty and related revenue 151 128 288 249 Other revenue 59 49 114 98 Total operating revenue $ 2,697 $ 2,356 $ 4,937 $ 4,496 TrueBlue is our customer loyalty program designed to reward and recognize our customers. TrueBlue points earned from ticket purchases are recorded as a reduction to Passenger travel within passenger revenue. Amounts presented in Loyalty revenue - air transportation represent revenue recognized when TrueBlue points have been redeemed and travel has occurred. Loyalty and related revenue within other revenue primarily consists of the non-air transportation elements from the sale of TrueBlue points as well as lounge access. Contract Liabilities Our contract liabilities primarily consist of ticket sales for which transportation has not yet been provided, unused credits available to customers, and outstanding loyalty points available for redemption (in millions): June 30, 2026 December 31, 2025 Air tra …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

"Operating Segments and Geographic Information Operating Segments JetBlue has one reportable operating segment, air transportation services. Air transportation services accounted for substantially all of the Company's operations in 2026 and 2025. We provide air transportation services across the United States, the Caribbean, Latin America, Canada, and Europe, and manage the business activities on a consolidated basis. JetBlue's chief operating decision maker (""CODM"") is our executive leadership team, which includes our Chief Executive Officer, President, Chief Financial Officer, and Chief Operating Officer. The CODM assesses performance for the air transportation segment which includes our loyalty program, and decides how to allocate resources based on net income (loss), which is reported on the consolidated statements of operations. The measure of segment assets is reported on the consolidated balance sheets as total assets. Our tangible assets primarily consist of our fleet of aircraft. The CODM reviews flight profitability data, which incorporates aircraft type and route economics in making resource allocation decisions. Our fleet is deployed systemwide and substantially all of our aircraft may be deployed across any of our geographic regions, without giving weight on geographic results and therefore, our assets do not require an allocation by geographic region. Geographic Region Information Operating revenues are allocated to geographic regions, as defined by the Depart …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

"Summary of Significant Accounting Policies Basis of Presentation JetBlue Airways Corporation (""JetBlue"") provides air transportation services across the United States, Latin America, the Caribbean, Canada and Europe. Our condensed consolidated financial statements include the accounts of JetBlue and our subsidiaries which are collectively referred to as ""we"" or the ""Company."" All majority-owned subsidiaries are consolidated on a line-by-line basis, with all intercompany transactions and balances being eliminated. These condensed consolidated financial statements and related notes should be read in conjunction with our 2025 audited financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2025 (the ""2025 Form 10-K""). These condensed consolidated financial statements are unaudited and have been prepared in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (the ""SEC""). In our opinion, they reflect all adjustments, including normal recurring items, that are necessary to present fairly the results for interim periods. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States (""GAAP"") have been condensed or omitted as permitted by such rules and regulations; however, we believe that the disclosures included herein are adequate to make the information presented not misleading. …

SignificantAccountingPoliciesTextBlock · excerpt; the full note is in the filing

"Subsequent Events Subsequent to June 30, 2026, we were selected as the successful bidder to acquire certain operating authorizations (slots) previously operated by Spirit Airlines at New York's LaGuardia Airport for an aggregate purchase price of $58.5 million. If completed, the acquisition would support up to an additional 12 daily roundtrips at LaGuardia. The transaction closing remains subject to regulatory approvals and other conditions. Subsequent to June 30, 2026, on July 27, 2026, we entered into supplemental support and other agreements with International Aero Engines, LLC (""IAE""), an affiliate of RTX Corporation, Pratt & Whitney Division, related to certain PW1100G and PW1500G engine operational disruptions, technical issues occurring through December 31, 2025 and other matters. Under the agreements, we received consideration including credits up to $105 million that may be applied toward future purchases of qualifying goods and services from IAE, IAE International Aero Engines AG and Pratt & Whitney through December 31, 2027, including in exchange for waiving certain claims. These credits are accounted for as vendor consideration under ASC 705-20 and will be allocated to qualifying purchases through December 31, 2027 based on our estimated eligible spend for applicable goods and services during that period. Credits associated with operating expenditures will be recognized as reductions of the related operating expenses, while credits associated with capit …

SubsequentEventsTextBlock · excerpt; the full note is in the filing