JetBlue Airways Files 2024 10-K

TL;DR

JetBlue's 2024 10-K is in, check the financials for the year ending Dec 31.

AI Summary

JetBlue Airways Corp. filed its 2024 10-K on February 14, 2025, detailing its financial performance for the fiscal year ending December 31, 2024. The company, headquartered in Long Island City, NY, operates in scheduled air transportation. Key financial data and operational metrics for 2024 are presented in this report.

Why It Matters

This filing provides investors and analysts with a comprehensive overview of JetBlue's financial health, operational performance, and strategic positioning for the past fiscal year.

Risk Assessment

Risk Level: medium — As an airline, JetBlue is subject to significant risks including fuel price volatility, economic downturns, and regulatory changes.

Key Numbers

• 2024 — Fiscal Year (The period covered by the 10-K filing.)
• 1231 — Fiscal Year End (Indicates the end date of the reporting period.)
• 000-49728 — SEC File Number (Identifies the company's filing with the SEC.)

Key Players & Entities

• JetBlue Airways Corp. (company) — Filer of the 10-K
• 2024-12-31 (date) — Fiscal year end
• 2025-02-14 (date) — Filing date
• Long Island City, NY (location) — Company headquarters

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value JBLU The NASDAQ Stock Market

Filing Documents

• jblu-20241231.htm (10-K) — 2535KB
• exhibit101formindemnificat.htm (EX-10.1) — 102KB
• exhibit106airbus.htm (EX-10.6) — 3519KB
• exhibit106aairbus-amendmen.htm (EX-10.6(A)) — 544KB
• exhibit106bairbus-amendmen.htm (EX-10.6(B)) — 443KB
• exhibit106cairbus-amendmen.htm (EX-10.6(C)) — 197KB
• exhibit106dairbus-amendmen.htm (EX-10.6(D)) — 958KB
• exhibit106eairbus-amendmen.htm (EX-10.6(E)) — 315KB
• exhibit106fairbus-amendmen.htm (EX-10.6(F)) — 401KB
• exhibit106gairbus-amendmen.htm (EX-10.6(G)) — 329KB
• exhibit106hairbus-amendmen.htm (EX-10.6(H)) — 315KB
• exhibit106iairbus-amendmen.htm (EX-10.6(I)) — 49KB
• exhibit106jairbus-amendmen.htm (EX-10.6(J)) — 2226KB
• exhibit106kairbus-amendmen.htm (EX-10.6(K)) — 19KB
• exhibit107bconformedsecond.htm (EX-10.7(B)) — 3303KB
• exhibit1016pratt.htm (EX-10.16) — 374KB
• exhibit19-jbluinsidertradi.htm (EX-19) — 863KB
• exhibit211listofsubsidiari.htm (EX-21.1) — 8KB
• exhibit23consent2024.htm (EX-23) — 7KB
• exhibit311certification2024.htm (EX-31.1) — 11KB
• exhibit312certification2024.htm (EX-31.2) — 11KB
• exhibit32certification2024.htm (EX-32) — 8KB
• floatingimage_0.jpg (GRAPHIC) — 38KB
• floatingimage_2.jpg (GRAPHIC) — 24KB
• floatingimage_4.jpg (GRAPHIC) — 0KB
• image_01.jpg (GRAPHIC) — 18KB
• image_11.jpg (GRAPHIC) — 22KB
• image_8.jpg (GRAPHIC) — 0KB
• jblu-20241231_g1.jpg (GRAPHIC) — 47KB
• jblu-20241231_g2.jpg (GRAPHIC) — 97KB
• 0001158463-25-000005.txt ( ) — 27617KB
• jblu-20241231.xsd (EX-101.SCH) — 87KB
• jblu-20241231_cal.xml (EX-101.CAL) — 133KB
• jblu-20241231_def.xml (EX-101.DEF) — 362KB
• jblu-20241231_lab.xml (EX-101.LAB) — 997KB
• jblu-20241231_pre.xml (EX-101.PRE) — 691KB
• jblu-20241231_htm.xml (XML) — 1770KB

Business

Item 1. Business 8 Overview 8 JetBlue Experience 8 Operations and Cost Structure 11 Human Capital Management 13 Regulation 15 Where You Can Find Other Information 17

Risk Factors

Item 1A. Risk Factors 17 Risks Related to JetBlue 17 Risks Associated with the Airline Industry 30

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 33

Cybersecurity

Item 1C. Cybersecurity 34

Properties

Item 2. Properties 35

Legal Proceedings

Item 3. Legal Proceedings 36

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 36 PART II.

Market for Registrant ' s Common Equity; Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant ' s Common Equity; Related Stockholder Matters and Issuer Purchases of Equity Securities 37

Reserved

Item 6. Reserved 39

Management ' s Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management ' s Discussion and Analysis of Financial Condition and Results of Operations 39 Overview 39 Results of Operations 42 Liquidity and Capital Resources 44 Contractual Obligations 48 Off-Balance Sheet Arrangements 49 Climate Change 50 Critical Accounting Policies and Estimates 52 Regulation G Reconciliation of Non-GAAP Financial Measures 54

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 58

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 59 Reports of Independent Registered Public Accounting Firm 59 Consolidated Balance Sheets 62 Consolidated Statements of Operations 64 Consolidated Statements of Comprehensive Loss 65 Consolidated Statements of Cash Flows 66 Consolidated Statements of Stockholders ' Equity 68

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 69

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 99

Controls and Procedures

Item 9A. Controls and Procedures 99

Other Information

Item 9B. Other Information 99

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 99 PART III.

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 100

Executive Compensation

Item 11. Executive Compensation 101

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 101

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 101

Principal Accounting Fees and Services

Item 14. Principal Accounting Fees and Services 101 3 Table of Contents PART IV.

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 102 Exhibit Index 103

Form 10-K Summary

Item 16. Form 10-K Summary 112

Signatures

Signatures 113 4 Table of Contents FORWARD-LOOKING INFORMATION This Annual Report (the "Report") contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended, (the "Exchange Act"). All statements other than statements of historical facts contained in this Report are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "expects," "plans," "intends," "anticipates," "indicates," "remains," "believes," "estimates," "forecast," "guidance," "outlook," "may," "will," "should," "seeks," "goals," "targets" or the negative of these terms or other similar expressions. Additionally, forward-looking statements include statements that do not relate solely to historical facts, such as statements which identify uncertainties or trends, discuss the possible future effects of current known trends or uncertainties, or which indicate that the future effects of known trends or uncertainties cannot be predicted, guaranteed, or assured. Forward-looking statements contained in this Report include, without limitation, statements regarding our outlook and future results of operations and financial position, our business strategy and plans for future operations, including our JetForward initiatives, our financing arrangements and potential implications thereof on our business, our sustainability initiatives, the impact of industry or other macroeconomic trends affecting our business, seasonality, and our expectations regarding the remaining impact of the wind down of our Northeast Alliance ("NEA") with American Airlines Group Inc. and the related impact on our business, financial condition and results of operations

BUSINESS

ITEM 1. BUSINESS OVERVIEW General JetBlue Airways Corporation is New York's Hometo wn Airline . As of December 31, 2024, JetBlue served over 100 destinations across the United States, the Caribbean and Latin America, Canada and Europe. JetBlue was incorporated in Delaware in August 1998 and commenced service on February 11, 2000. We believe our differentiated product and culture combined with our competitive cost structure enables us to compete effectively in the high-value geographies we serve. Looking to the future, we plan to continue to grow in our high-value geographies, invest in industry leading products, and provide award-winning service by our 23,000+ dedicated employees, whom we refer to as crewmembers. Going forward, we believe we will continue to differentiate ourselves from other airlines, enabling us to continue to attract a greater mix of customers, and to drive continued growth. We are focused on delivering solid results for our stockholders, our customers, and our crewmembers. Our principal executive offices are located at 27-01 Queens Plaza North, Long Island City, New York 11101 and our telephone number is (718) 286-7900. Our Industry and Competition The U.S. airline industry is extremely competitive and challenging, and results are often volatile. It is uniquely susceptible to external factors such as fuel costs, downturns in domestic and international economic conditions, weather-related disruptions, air traffic control ("ATC") shortages, the spread of infectious diseases, the impact of airline restructurings or consolidations, and military actions or acts of terrorism. We operate in a capital and energy intensive industry that has high fixed costs, as well as heavy taxation and fees. Airline returns are sensitive to slight changes in fuel prices, average fare levels, and customer demand. The industry's principal competitive factors include fares, brand and customer service, frequent flyer loyalty programs, route networks, flight schedul

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View this 10-K filing on SEC EDGAR