WSJ’s “Best Airlines of 2025” annual survey is out, and JB showed no improvement or was worse in every category, except mishandled bags, vs last year. Jet forward.

 

Historical data shows Jetblue enters a new market with one flight per day or a few flights per week. In contrast other carriers enter with multiple flights per day. As an example AA typically does 2.8 flights per day. What’s the result? Jetblue tests a market at off peak time, yields are unsuccessful and the market ends. Jetblue has never focused on D0 and only recently A14 while increasing turn times and “touch times” for mechanics. This isnt a about Neeleman or unions its about bad decision making from management,

 

Kirby recently mentioned in their earnings report that they are limiting growth not only due to the limited number of Max 7 deliveries but also because United Airlines’ growth is constrained by their partnership. As a result, the partnership prioritizes route optimization over unilateral expansion, which raises the question at the size that they are why continually put pressure on us and take over what’s left at zero cost. Or why even agree to a partnership to later be constrained by it?

 

Not only is there not an urgency to hit D0, but when there is a delay, it seems like some stop caring. The posted delay time should also be a goal to hit to prevent further delays. I don’t know if they track that but I hope they do. Regarding A14, it is contingent upon D0. It starts at the departure gate.

 

United doesn't have any MAX 7 on order. We have 8 and 9 MAX planes and our 250 order for -10's is already down to about 160 because we converted 90 of those over to MAX 9s which are being delivered already. I think the limiting factor for growth is net planes because we are only getting 128 this year (was supposed to be 150) and parking 17 older Airbus planes. Growth is not constrained by "the partnership" unless its only in specific markets because we are certainly growing with the fleet ending the year 111 planes more than we have now and they have to fly somewhere.

 

I actually give JoJo high marks. She's been able to dangle the carrot for investors for many years now and I hope it continues (the employee carrot has fallen and molded). I think if she can continue selling "if we just __________, we'll be fine"
(Mini Mint, lounges, advancing recurrent ground school [thanks for the 6 month move-up], anything Delta or United does to be implemented in 3 years, etc).
And with all that debt, isn't there really only one way out of it? For stock holders, you'll get your 15% bump when Spirit goes out of business, but if Spirit lingers on, we'll be bankrupt by the end of summer.
It'll be an interesting earnings day on the 27th: Management will list all their accomplishments/ changes that will be overlooked by the failures during this upcoming winter storm. "We have a plan, just not when it snows this much". Here's to sunny days ahead.

 

I love how people incorrectly think how close we are to bankruptcy.

 

When your non pilot financial advisor says we have about 2 years left before bankruptcy, there’s definitely urgency for change. Considering we won’t make money in 2027 either.

also we have a cost issue. Sure we can get $950 in EBIT but then you have to factor in actual expenses like interest on debt which we have A LOT of

 

jetblue borrowed 3 billion dollars and for that reason alone people think it won’t declare Ch11. Jetblue currently can’t pay back the money it’s borrowed without losing more money. The estimates to make money are based on a perfect macro environment, JoJos words, which jetblue hasn’t had so the loses will continue. The investors won’t allow the airline to burn through the remaining amount just because. Bankruptcy is happening.

as mentioned the 27th will be telling. Perhaps revised estimates but certainly a posted loss. Operational
efficiencies will be blamed on the government and ATC. The lone good news will come in the on going spirit saga. I’m looking forward hear the tone in Jamie Bakers voice and JG makes more excuses for the airline’s shortcomings.

 

I agree with most of this, except your confidence that bankruptcy is imminent. Everyone seems to lump us into the same boat as Spirit, which just isn't correct. Honestly, I wish we WOULD declare, but I'm sure it's not that easy. Give them the rest of the week to cook the books for Q4. All those numbers are a lie anyways. I always wondered why we take 7-10 days longer then the legacies to release our earnings....