JetBlue Airways (JBLU) 10-Q 28 Apr 23 2023 Q1 Quarterly report Financial data

Cover Page

Cover Page	3 Months Ended
	Mar. 31, 2023 shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	000-49728
Entity Registrant Name	JETBLUE AIRWAYS CORP
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	87-0617894
Entity Address, Address Line One	27-01 Queens Plaza North
Entity Address, City or Town	Long Island City
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	11101
City Area Code	718
Local Phone Number	286-7900
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	JBLU
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	327,900,975
Entity Central Index Key	0001158463
Current Fiscal Year End Date	--03-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
CURRENT ASSETS
Cash and cash equivalents	$ 1,333	$ 1,042
Investment securities	204	350
Receivables, less allowance (2023-$3; 2022-$4)	331	317
Inventories, less allowance (2023-$30; 2022-$29)	76	87
Prepaid expenses and other	154	120
Total current assets	2,098	1,916
PROPERTY AND EQUIPMENT
Flight equipment	11,889	11,727
Predelivery deposits for flight equipment	398	415
Total flight equipment and predelivery deposits, gross	12,287	12,142
Less accumulated depreciation	3,689	3,578
Total flight equipment and predelivery deposits, net	8,598	8,564
Other property and equipment	1,309	1,314
Less accumulated depreciation	749	731
Total other property and equipment, net	560	583
Total property and equipment, net	9,158	9,147
OPERATING LEASE ASSETS	637	660
OTHER ASSETS
Investment securities	153	172
Restricted cash	146	146
Intangible assets, less accumulated amortization (2023-$469; 2022-$455)	310	298
Other	725	706
Total other assets	1,334	1,322
TOTAL ASSETS	13,227	13,045
CURRENT LIABILITIES
Accounts payable	626	532
Air traffic liability	1,926	1,581
Accrued salaries, wages and benefits	543	498
Other accrued liabilities	554	486
Current operating lease liabilities	98	97
Current maturities of long-term debt and finance lease obligations	263	554
Total current liabilities	4,010	3,748
LONG-TERM DEBT AND FINANCE LEASE OBLIGATIONS	3,316	3,093
LONG-TERM OPERATING LEASE LIABILITIES	616	639
DEFERRED TAXES AND OTHER LIABILITIES
Deferred income taxes	692	770
Air traffic liability - non-current	731	738
Other	489	494
Total deferred taxes and other liabilities	1,912	2,002
COMMITMENTS AND CONTINGENCIES (Note 6)
STOCKHOLDERS’ EQUITY
Preferred stock, $0.01 par value; 25 shares authorized, none issued	0	0
Common stock, $0.01 par value; 900 shares authorized, 487 and 486 shares issued and 328 and 327 shares outstanding at March 31, 2023 and December 31, 2022, respectively	5	5
Treasury stock, at cost; 159 shares at March 31, 2023 and December 31, 2022	(1,998)	(1,995)
Additional paid-in capital	3,139	3,129
Retained earnings	2,232	2,424
Accumulated other comprehensive loss	(5)	0
Total stockholders’ equity	3,373	3,563
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 13,227	$ 13,045

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivable	$ 3	$ 4
Inventory valuation reserves	30	29
Accumulated amortization	$ 469	$ 455
Preferred stock, par value (In dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	25,000,000	25,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (In dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	900,000,000	900,000,000
Common stock, shares issued (in shares)	487,000,000	486,000,000
Common stock, shares, outstanding (in shares)	328,000,000	327,000,000
Treasury stock, shares (in shares)	159,000,000	159,000,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenues [Abstract]
Total revenue	$ 2,328	$ 1,736
OPERATING EXPENSES
Aircraft fuel and related taxes	765	571
Salaries, wages and benefits	741	688
Landing fees and other rents	160	132
Depreciation and amortization	151	143
Aircraft rent	32	26
Sales and marketing	76	57
Maintenance, materials and repairs	176	152
Other operating expenses	357	334
Special items	112	0
Total operating expenses	2,570	2,103
OPERATING LOSS	(242)	(367)
OTHER INCOME (EXPENSE)
Interest expense	(46)	(37)
Interest income	17	4
Gain on investments, net	3	2
Other income	2	0
Total other expense	(24)	(31)
LOSS BEFORE INCOME TAXES	(266)	(398)
Income tax benefit	(74)	(143)
NET LOSS	$ (192)	$ (255)
LOSS PER COMMON SHARE:
Basic (in dollars per share)	$ (0.58)	$ (0.79)
Diluted (in dollars per share)	$ (0.58)	$ (0.79)
Retained Earnings
OTHER INCOME (EXPENSE)
NET LOSS	$ (192)	$ (255)
Passenger
Revenues [Abstract]
Total revenue	2,182	1,603
Other
Revenues [Abstract]
Total revenue	$ 146	$ 133

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
NET LOSS	$ (192)	$ (255)
Changes in fair value of available-for-sale securities and derivative instruments, net of reclassifications into earnings, net of deferred taxes of $(1) and $— in 2023 and 2022, respectively	(5)	(1)
Total other comprehensive loss	(5)	(1)
COMPREHENSIVE LOSS	$ (197)	$ (256)

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Loss (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Other comprehensive income (loss), tax	$ (1)	$ 0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2023	Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss		$ (192)	$ (255)
Adjustments to reconcile net loss to net cash provided by operating activities:
Deferred income taxes		(78)	(141)
Depreciation		137	130
Amortization		14	13
Stock-based compensation		10	11
Changes in certain operating assets and liabilities		520	499
Other, net		(6)	(10)
Net cash provided by operating activities		405	247
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures		(172)	(85)
Predelivery deposits for flight equipment		0	(49)
Purchase of held-to-maturity investments		(4)	(63)
Proceeds from the maturities of held-to-maturity investments		4	0
Purchase of available-for-sale securities		(102)	(290)
Proceeds from the sale of available-for-sale securities		267	153
Payment for Spirit Airlines acquisition		(33)	0
Net cash used in investing activities		(40)	(334)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from sale-leaseback transactions		38	0
Repayment of long-term debt and finance lease obligations		(109)	(83)
Acquisition of treasury stock		(3)	(6)
Net cash used in financing activities		(74)	(89)
INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH		291	(176)
Cash, cash equivalents and restricted cash at beginning of period		1,188	2,077
Cash, cash equivalents and restricted cash at end of period	[1]	1,479	1,901
SUPPLEMENTAL CASH FLOW INFORMATION
Cash payments for interest		6	20
Cash payments for income taxes (net of refunds)		0	1
NON-CASH TRANSACTIONS
Operating lease assets obtained under operating leases		4	59
Cash and cash equivalents		1,333	1,834
Restricted Cash	[2]	146	67
Total cash, cash equivalents and restricted cash	[1]	$ 1,479	$ 1,901
[1] (1) Reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets: (2) Restricted cash primarily consists of funds held in escrow for estimated workers’ compensation obligations and other letters of credit.

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Treasury Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Dec. 31, 2021		478
Beginning balance (in shares) at Dec. 31, 2021			158
Beginning balance at Dec. 31, 2021	$ 3,849	$ 5	$ (1,989)	$ 3,047	$ 2,786	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(255)				(255)
Other comprehensive loss	(1)					(1)
Vesting of restricted stock units (in shares)		1
Vesting of restricted stock units	(6)		$ (6)
Stock compensation expense	11			11
Ending balance (in shares) at Mar. 31, 2022		479
Ending balance (in shares) at Mar. 31, 2022			158
Ending balance at Mar. 31, 2022	$ 3,598	$ 5	$ (1,995)	3,058	2,531	(1)
Beginning balance (in shares) at Dec. 31, 2022	327	486
Beginning balance (in shares) at Dec. 31, 2022	159		159
Beginning balance at Dec. 31, 2022	$ 3,563	$ 5	$ (1,995)	3,129	2,424	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(192)				(192)
Other comprehensive loss	(5)					(5)
Vesting of restricted stock units (in shares)		1
Vesting of restricted stock units	(3)		$ (3)
Stock compensation expense	$ 10			10
Ending balance (in shares) at Mar. 31, 2023	328	487
Ending balance (in shares) at Mar. 31, 2023	159		159
Ending balance at Mar. 31, 2023	$ 3,373	$ 5	$ (1,998)	$ 3,139	$ 2,232	$ (5)

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation JetBlue Airways Corporation ("JetBlue") provides air transportation services across the United States, the Caribbean and Latin Am erica, Canada, and England. Ou r 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 2022 audited financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2022 ("2022 Form 10-K").

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition The Company categorizes the revenues received 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 the revenues recognized by revenue source for the three months ended March 31, 2023 and 2022 (in millions): Three Months Ended March 31, 2023 2022 Passenger revenue Passenger travel $ 2,026 $ 1,490 Loyalty revenue - air transportation 156 113 Other revenue Loyalty revenue 100 88 Other revenue 46 45 Total revenue $ 2,328 $ 1,736 TrueBlue ® is our customer loyalty program designed to reward and recognize our customers. TrueBlue ® points earned from ticket purchases are presented as a reduction to Passenger travel within passenger revenue. Amounts presented in Loyalty revenue - air transportation represent the revenue recognized when TrueBlue ® points have been redeemed and the travel has occurred. Loyalty revenue within other revenue is primarily comprised of the non-air transportation elements of the sales of our 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): March 31, 2023 December 31, 2022 Air traffic liability - passenger travel $ 1,624 $ 1,291 Air traffic liability - loyalty program (air transportation) 998 1,000 Deferred revenue (1) 525 530 Total $ 3,147 $ 2,821 (1) Deferred revenue is included within other accrued liabilities and other liabilities on our consolidated balance sheets. During the three months ended March 31, 2023 and 2022, we recognized passenger revenue of $858 million and $693 million, respectively, that was included in passenger travel liability at the beginning of the respective periods. TrueBlue ® points are combined into one homogeneous pool and are not separately identifiable. As such, the revenue is comprised of points that were part of the air traffic liability balance at the beginning of the period as well as points that were issued during the period. The table below presents the activity of the current and non-current air traffic liability for our loyalty program, and includes points earned and sold to participating companies for the three months ended March 31, 2023 and 2022 (in millions): Balance at December 31, 2022 $ 1,000 TrueBlue ® points redeemed (156) TrueBlue ® points earned and sold 154 Balance at March 31, 2023 $ 998 Balance at December 31, 2021 $ 891 TrueBlue ® points redeemed (113) TrueBlue ® points earned and sold 134 Balance at March 31, 2022 $ 912 The timing of our TrueBlue ® point redemptions can vary; however, the majority of our points are redeemed within approximately three years of the date of issuance.

Long-term Debt, Short-term Borr

Long-term Debt, Short-term Borrowings and Finance Lease Obligations	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Long-term Debt, Short-term Borrowings and Finance Lease Obligations	Long-term Debt, Short-term Borrowings and Finance Lease Obligations During the three months ended March 31, 2023, we made principal payments of $109 million on our outstanding debt and finance lease obligations. At March 31, 2023, we had pledged aircraft, engines, other equipment, and facilities with a net book value of $6.0 billion as security under various financing arrangements. At March 31, 2023, scheduled maturities of our long-term debt and finance lease obligations were as follows (in millions): Year Total Remainder of 2023 $ 216 2024 237 2025 204 2026 943 2027 189 2028 and thereafter 1,790 Total $ 3,579 The carrying amounts and estimated fair values of our long-term debt, net of debt acquisition costs, at March 31, 2023 and December 31, 2022 were as follows (in millions): March 31, 2023 December 31, 2022 Carrying Value Estimated Fair Value (2) Carrying Value Estimated Fair Value (2) Public Debt Fixed rate special facility bonds, due through 2036 $ 42 $ 43 $ 42 $ 43 Fixed rate enhanced equipment notes: 2019-1 Series AA, due through 2032 505 360 504 345 2019-1 Series A, due through 2028 157 128 157 124 2019-1 Series B, due through 2027 82 88 82 87 2020-1 Series A, due through 2032 547 473 546 457 2020-1 Series B, due through 2028 135 144 135 142 Non-Public Debt Fixed rate enhanced equipment notes, due through 2023 — — 61 60 Fixed rate equipment notes, due through 2028 409 343 447 422 Floating rate equipment notes, due through 2028 48 43 56 49 Sale-leaseback transactions, due through 2034 378 295 341 329 Unsecured CARES Act Payroll Support Program loan, due through 2030 259 130 259 126 Unsecured Consolidated Appropriations Act Payroll Support Program Extension loan, due through 2031 144 70 144 68 Unsecured American Rescue Plan Act of 2021 Payroll Support loan, due through 2031 132 65 132 62 Convertible senior notes due 2026 740 551 739 534 Total (1) $ 3,578 $ 2,733 $ 3,645 $ 2,848 (1) Total excludes finance lease obligations of $1 million and $2 million at March 31, 2023 and December 31, 2022, respectively. (2) The estimated fair va lues of our publicly held long-term debt are classified as Level 2 in the fair value hierarchy. The fair value of our non-public debt are estimated using a discounted cash flow analysis based on our borrowing rates for instruments with similar terms and therefore classified as Level 3 in the fair value hierarchy. Refer to Note 7 for an explanation of the fair value hierarchy structure. We have financed certain aircraft with Enhanced Equipment Trust Certificates ("EETCs"). One of the benefits of this structure is being able to finance several aircraft at one time, rather than individually. The structure of EETC financing is that we create pass-through trusts in order to issue pass-through certificates. The proceeds from the issuance of these certificates are then used to purchase equipment notes, which are issued by us and are secured by our aircraft. These trusts meet the definition of a variable interest entity ("VIE"), as defined in Topic 810, Consolidation of the FASB Codification, and must be considered for consolidation in our financial statements. Our assessment of our EETCs considers both quantitative and qualitative factors including the purpose for which these trusts were established and the nature of the risks in each. The main purpose of the trust structure is to enhance the credit worthiness of our debt obligation through certain bankruptcy protection provisions and liquidity facilities, and also to lower our total borrowing cost. We concluded that we are not the primary beneficiary in these trusts because our involvement in them is limited to principal and interest payments on the related notes, the trusts were not set up to pass along variability created by credit risk to us, and the likelihood of our defaulting on the notes. Therefore, we have not consolidated these trusts in our financial statements. Short-term Borrowings Citibank Line of Credit On October 21, 2022, JetBlue entered into the $600 million Second Amended and Restated Credit and Guaranty Agreement (the "Second Amended and Restated Facility"), amending and restating the Company's existing $550 million credit facility. The Second Amended and Restated Facility is among JetBlue, Citibank N.A., as administrative agent and the lenders party thereto. The Second Amended and Restated Facility modifies the existing credit facility to, among other things, (i) increase the lending commitments by $50 million, for total lending commitments of $600 million, and (ii) establish the maturity date for the $600 million in lending commitments as October 21, 2024. Borrowings under the Second Amended and Restated Facility bear interest at a variable rate based on the secured overnight financing rate, known as SOFR, plus a margin of 2.00% per annum, or another rate (at JetBlue's election) based on certain market interest rates, plus a margin of 1.00% per annum, in each case with a floor of 0%. The Second Amended and Restated Facility is secured by spare parts, aircraft, simulators, and certain other assets as permitted thereunder. The Second Amended and Restated Facility includes covenants that require us to maintain certain minimum balances in unrestricted cash, cash equivalents, and unused commitments available under revolving credit facilities. In addition, the covenants restrict our ability to, among other things, dispose of certain collateral, or merge, consolidate, or sell assets. As of and for the periods ended March 31, 2023 and December 31, 2022, we did not have a balance outstanding or any borrowings under this line of credit. Morgan Stanley Line of Credit We have a revolving line of credit with Morgan Stanley for up to approximately $200 million. As of and for the periods ended March 31, 2023 and December 31, 2022, we did not have a balance outstanding or any borrowings under this line of credit. 2022 $3.5 billion Senior Secured Bridge Facility In connection with the entry into the Merger Agreement as defined in Note 12, JetBlue entered into a Second Amended and Restated Commitment Letter (the “ Commitment Letter”), dated July 28, 2022, with Goldman Sachs Bank USA; BofA Securities, Inc.; Bank of America, N.A.; BNP Paribas; Credit Suisse AG, New York Branch; Credit Suisse Loan Funding LLC; Credit Agricole Corporate and Investment Bank; Natixis, New York Branch; Sumitomo Mitsui Banking Corporation; and MUFG Bank, Ltd. (collectively, the “Commitment Parties”), pursuant to which the Commitment Parties have committed to provide a senior secured bridge facility in an aggregate principal amount of up to $3.5 billion to finance the acquisition of Spirit Airlines, Inc. (“Spirit”).

Loss Per Share

Loss Per Share	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Loss Per Share	Loss Per Share Basic earnings per share is calculated by dividing net loss by the weighted average number of shares outstanding during the period. Diluted earnings per share is calculated similarly but includes potential dilution from restricted stock units, the crewmember Stock Purchase Plan, convertible notes, warrants issued under various federal payroll support programs, and any other potentially dilutive instruments using the treasury stock and if-converted methods. Anti-dilutive common stock equivalents excluded from the computation of diluted earnings per share amounts were 1.6 million and 2.9 million for the three months ended March 31, 2023 and 2022, respectively. The following table shows how we computed loss per common share for the three months ended March 31, 2023 and 2022 (dollars and share data in millions): Three Months Ended March 31, 2023 2022 Net loss $ (192) $ (255) Weighted average basic shares 327.6 320.5 Effect of dilutive securities — — Weighted average diluted shares 327.6 320.5 Loss per common share Basic $ (0.58) $ (0.79) Diluted $ (0.58) $ (0.79)

Crewmember Retirement Plan

Crewmember Retirement Plan	3 Months Ended
	Mar. 31, 2023
Retirement Benefits [Abstract]
Crewmember Retirement Plan	Crewmember Retirement Plan We sponsor a retirement savings 401(k) defined contribution plan (the "Plan"), covering all of our crewmembers where we match 100% of our crewmember contributions up to 5% of their eligible wages. The contributions vest over three years and are measured from a crewmember's hire date. Crewmembers are immediately vested in their voluntary contributions. Another component of the Plan is a Company discretionary contribution of 5% of eligible non-management crewmember compensation, which we refer to as Retirement Plus. Retirement Plus contributions vest over three years and are measured from a crewmember's hire date. Certain Federal Aviation Administration ("FAA") licensed crewmembers receive an additional contribution of 3% of eligible compensation, which we refer to as Retirement Advantage. Our pilots receive a non-elective Company contribution of 16% of eligible pilot compensation 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, Retirement Plus , and Retirement Advantage contributions . The Company's non-elective contribution of eligible pilot compensation vests after three years of service. Our non-management crewmembers are eligible to receive profit sharing, calculated as 10% of adjusted pre-tax income before profit sharing and special items up to a pre-tax margin of 18% with the result reduced by Retirement Plus contributions and the equivalent of Retirement Plus contributions for pilots. If JetBlue's resulting pre-tax margin exceeds 18%, non-management crewmembers will receive 20% profit sharing on amounts above an 18% pre-tax margin. Total 401(k) company match, Retirement Plus, Retirement Advantage , pilot retirement contribution, and profit sharing expensed for the three months ended March 31, 2023 and 2022 was $66 million and $62 million, respectively.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Flight Equipment Commitments In February 2022, we exercised our option to purchase 30 additional Airbus A220-300 aircraft under our existing agreement with Airbus Canada Limited Partnership. The 30 additional A220-300 aircraft are expected to be delivered from 2023 to 2026. Options for 20 additional A220-300 aircraft remain available to us. As of March 31, 2023, our committed expenditures for aircraft and related flight equipment, including estimated amounts for contractual price escalations and predelivery deposits were as set forth in the table below (in billions): Flight equipment commitments (1) Year Total Remainder of 2023 $ 1.5 2024 2.2 2025 1.7 2026 1.3 2027 1.0 Total $ 7.7 (1) The timing of these commitments is based on our contractual agreements and may be subject to change based on modifications to contractual agreements or changes in the delivery schedules. Our firm aircraft orders included the following aircraft at March 31, 2023: Year Airbus A321neo Airbus A220 Total 2023 11 17 28 2024 13 30 43 2025 11 24 35 2026 12 14 26 2027 14 — 14 Total 61 85 146 The amount of committed expenditures stated above represents the current delivery schedule set forth in our Airbus order book as of March 31, 2023. Due to Airbus delivery delays, our 2023 capacity planning assumes delivery of 11 A220, four A321neo, and four A321neo LR aircraft. Other Commitments We utilize several credit card processors to process our ticket sales. Our agreements with these processors do not contain covenants, but do generally allow the processor to withhold cash reserves to protect the processor from potential liability for tickets purchased, but not yet used for travel. While we currently do not have any collateral requirements related to our credit card processors, we may be required to issue collateral to our credit card processors, or other key business partners, in the future. As of March 31, 2023, we had $45 million in assets serving as collateral for letters of credit relating to a certain number of our leases, which will expire at the end of the related lease terms. We also had $65 million letter of credit relating to our 5% ownership in JFK Millennium Partner LLC, a private entity that will finance, develop, and operate John F. Kennedy International Airport ("JFK") Terminal 6. The letters of credit are included in restricted cash on the consolidated balance sheets. Additionally, we had $36 million pledged related to our workers' compensation insurance policies and other business partner agreements, which will expire according to the terms of the related policies or agreements. Except for our pilots and inflight crewmembers who are represented by the ALPA and the Transport Workers Union of America ("TWU"), respectively, our other frontline crewmembers do not have third party representation . Air Line Pilots Association In April 2021, ALPA, on behalf of the JetBlue pilot group, filed a grievance relating to the Northeast Alliance Agreement ("NEA"), an expanded codeshare and marketing alliance between JetBlue and American Airlines, Inc. ("American") at four Northeast airports. ALPA claimed that in entering the NEA, JetBlue violated certain scope clauses as contained in the pilots’ ALPA collective bargaining agreement. As a result of a mediation process, the parties agreed to certain changes to the collective bargaining agreement. The agreement was ratified by the JetBlue pilot group in April 2022. In January 2023, JetBlue pilots approved a two year contract extension effective March 1, 2023, which included a ratification payment and adjustments to paid-time-off accruals resulting from pay rate increases of $95 million. This was recorded as an expense within special items in the first quarter of 2023. International Association of Machinists and Aerospace Workers In September 2022, the International Association of Machinists and Aerospace Workers filed for an election to unionize our ground operations crewmembers. In February 2023, our crewmembers voted to maintain our direct relationship rather than elect a union. We enter into individual employment agreements with each of our non-unionized FAA-licensed crewmembers, which include dispatchers, technicians, and inspectors, as well as air traffic controllers. Each employment agreement is for a term of five years and automatically renews for an additional five years unless either the crewmember or we elect not to renew it by giving at least 90 days' notice before the end of the relevant term. Pursuant to these agreements, these crewmembers can only be terminated for cause. In the event of a downturn in our business that would require a reduction in work hours, we are obligated to pay these crewmembers a guaranteed level of income and to continue their benefits if they do not obtain other aviation employment. Legal Matters Occasionally, we are involved in various claims, lawsuits, regulatory examinations, investigations and other legal matters involving suppliers, crewmembers, customers, and governmental agencies, arising, for the most part, in the ordinary course of business. The outcome of litigation and other legal matters is always uncertain. The Company believes it has valid defenses to the legal matters currently pending against it, is defending itself vigorously, and has recorded accruals determined in accordance with GAAP, where appropriate. In making a determination regarding accruals, using available information, we evaluate the likelihood of an unfavorable outcome in legal or regulatory proceedings to which we are a party and record a loss contingency when it is probable a liability has been incurred and the amount of the loss can be reasonably estimated. These subjective determinations are based on the status of such legal or regulatory proceedings, the merits of our defenses, and consultation with legal counsel. Actual outcomes of these legal and regulatory proceedings may materially differ from our current estimates. It is possible that resolution of one or more of the legal matters currently pending or threatened could result in losses material to our consolidated results of operations, liquidity, or financial condition. To date, none of these types of litigation matters, most of which are typically covered by insurance, has had a material impact on our operations or financial condition. We have insured and continue to insure against most of these types of claims. A judgment on any claim not covered by, or in excess of, our insurance coverage could materially adversely affect our consolidated results of operations, liquidity, or financial condition. On September 21, 2021, the United States Department of Justice, along with Attorneys General of six states and the District of Columbia filed suit against JetBlue and American seeking to enjoin the NEA, alleging that it violates Section 1 of the Sherman Act. The bench trial of this matter was concluded in November 2022 and the Court’s decision remains pending. An adverse ruling could adversely impact our ability to achieve the intended benefits of the NEA could have an adverse impact on our business, financial condition, and results of operations. Additionally, we are incurring costs associated with implementing operational and marketing elements of the NEA, which would not be recoverable if we were required to unwind all or a portion of the NEA. In December 2022 and February 2023, four putative class actions lawsuits were filed in the United States District Court for the Eastern District of New York and the District of Massachusetts, respectively, alleging that the NEA violates Sections 1 and 2 of the Sherman Act. Among other things, plaintiffs seek monetary damages on behalf of a putative class of direct purchasers of airline tickets from JetBlue and American and, depending on the specific case, other airlines on flights to or from four airports (JFK, LaGuardia Airport, Newark Liberty International Airport, and Boston Logan International Airport) from July 16, 2020 through the present. Plaintiffs in these actions also seek to enjoin the NEA. Given the nature of these cases, we are unable to estimate the reasonably possible loss or range of loss, if any, arising from this matter; however, JetBlue believes these lawsuits are without merit and, along with American Airlines, will defend these matters vigorously. We are also subject to a number of legal proceedings initiated by individual consumers, the Department of Justice and Attorneys General in six states and the District of Columbia alleging that our pending acquisition of Spirit violates Section 7 of the Clayton Act. For more information, see Note 12.

Fair Value

Fair Value	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value	Fair Value Under Topic 820, Fair Value Measurement of the Financial Accounting Standards Board (the "FASB") Accounting Standards Codification (the "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 and liabilities required to be measured at fair value on a recurring basis and where they are classified within the fair value hierarchy as of March 31, 2023 and December 31, 2022 (in millions): March 31, 2023 Level 1 Level 2 Level 3 Total Assets Cash equivalents $ 599 $ — $ — $ 599 Available-for-sale investment securities — 157 13 170 Equity investment securities 11 — — 11 Aircraft fuel derivatives — 8 — 8 December 31, 2022 Level 1 Level 2 Level 3 Total Assets Cash equivalents $ 665 $ — $ — $ 665 Available-for-sale investment securities — 324 13 337 Equity investment securities 8 — — 8 Aircraft fuel derivatives — 3 — 3 Refe r to Note 3 for fair value information related to our outstanding debt obligations as of March 31, 2023 and December 31, 2022. Cash equivalents Our cash equivalents include money market securities and time deposits which are readily convertible into cash, have maturities of three months or less when purchased, and are considered to be highly liquid and easily tradable. The money market securities are valued using inputs observable in active markets for identical securities and are therefore classified as Level 1 within our fair value hierarchy. The fair values of remaining instruments are based on observable inputs in non-active markets, which are therefore classified as Level 2 in the hierarchy. Available-for-sale investment securities Our available-for-sale investment securities include investments such as time deposits, commercial paper, and convertible debt securities. The fair values of time deposits and commercial paper are based on observable inputs in non-active markets, which are therefore classified as Level 2 in the hierarchy. The fair values of convertible debt securities are based on unobservable inputs and are classified as Level 3 in the hierarchy. Equity investment securities Our equity investment securities include investments in common stocks of publicly traded companies. The fair values of these instruments are classified as Level 1 in the hierarchy as they are based on unadjusted quoted prices in active markets for identical assets. Other investments Our wholly-owned subsidiary, JetBlue Technology Ventures, LLC ("JBV"), has equity investments in emerging companies that do not have readily determinable fair values. In accordance with Topic 321, Investments - Equity Securities of the FASB Codification, we account for these investments using a measurement alternative which allows entities to measure these investments at cost, less any impairment, adjusted for changes from observable price changes in orderly transactions for identifiable or similar investments of the same issuer. Aircraft fuel derivatives Our aircraft fuel derivatives include call spread options which are not traded on public exchanges. Their fair values are determined using a market approach based on inputs that are readily available from public markets for commodities and energy trading activities; therefore, they are classified as Level 2 inputs. The data inputs are combined into qualitative models and processes to generate forward curves and volatility related to the specific terms of the underlying hedge contracts. Held-to-maturity investment securities Our held-to-maturity investment securities consist of investment-grade interest bearing instruments, such as U.S. Treasury notes and corporate bonds, which are stated at amortized cost. If the U.S. Treasury notes were measured at fair value, they would be classified as Level 1 in the fair value hierarchy, based on inputs observable in active markets for identical securities. If the corporate bonds were measured at fair value, they would be classified as Level 2 in the fair value hierarchy, based on quoted prices in active markets for similar securities . We do not intend to sell these investment securities and do not hold any contractual maturities greater than 24 months. Those securities that will mature in twelve months or less are included in short-term investments on our consolidated balance sheets. Those securities with remaining maturities greater than twelve months are included in long-term investments on our consolidated balance sheets. The carrying value and estimated fair value of our held-to-maturity investment securities, were as follows (in millions): March 31, 2023 December 31, 2022 Carrying Value Fair Value Carrying Value Fair Value Held-to-maturity investment securities $ 177 $ 171 $ 177 $ 170

Investments

Investments	3 Months Ended
	Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Investments	Investments Investment in Debt Securities Investment in debt securities consist of available-for-sale investment securities and held-to-maturity investment securities. When sold, we use a specific identification method to determine the cost of the securities. Available-for-sale investment securities. We did not record any material gains or losses on these securities during the three months ended March 31, 2023 and 2022. Refer to Note 7 for an explanation of the fair value hierarchy structure. Held-to-maturity investment securities. We did not record any material gains or losses on held-to-maturity investment securities during the three months ended March 31, 2023 and 2022. The aggregate carrying values of our short-term and long-term debt investment securities consisted of the following at March 31, 2023 and December 31, 2022 (in millions): March 31, 2023 December 31, 2022 Available-for-sale investment securities Time deposits $ 150 $ 285 Commercial paper 7 39 Debt securities 13 13 Total available-for-sale investment securities 170 337 Held-to-maturity investment securities Corporate bonds 177 177 Total held-to-maturity investment securities 177 177 Total investment in debt securities $ 347 $ 514 Investment in Equity Securities Equity Method Investments Investments in which we can exercise significant influence are accounted for using the equity method in accordance with Topic 323, Investments - Equity Method and Joint Ventures of the FASB Codification. The carrying amount of our equity method investments was $37 million and $38 million as of March 31, 2023 and December 31, 2022, respectively, and is included within other assets on our consolidated balance sheets. We did not record any material gains or losses on these investments during the three months ended March 31, 2023. We recognized a gain of $3 million on one of our equity method investments related to its issuance of additional shares upon the closing of a subsequent financing round in other income on our consolidated statement of operations during the three months ended March 31, 2022. We partnered with JMP to finance, develop, and operate JFK Terminal 6. In exchange of this partnership, we committed a letter of credit as discussed further in Note 6. We exercise significant influence over this transaction, which is accounted for under the equity method. Other Investments Our equity investment securities include investments in common stocks of publicly traded companies which are stated at fair value. The carrying amount of our equity investment securities, which are recorded within investment securities in the current asset section of our consolidated balance sheet, was $11 million and $8 million as of March 31, 2023 and December 31, 2022, respectively. We recognized a net unrealized gain of $3 million on these securities in other income on our consolidated statement of operations during the three months ended March 31, 2023 and an unrealized loss of $2 million in other income on our consolidated statement of operations during the three months ended March 31, 2022. JBV has equity investments in emerging companies which do not have readily determinable fair values. In accordance with Topic 321, Investments - Equity Securities of the FASB Codification, we account for these investments using a measurement alternative that allows entities to measure these investments at cost, less any impairment, adjusted for changes from observable price changes in orderly transactions for identifiable or similar investments of the same issuer. The carrying amount of these investments, which is included within other assets on our consolidated balance sheet, was $87 million and $83 million as of March 31, 2023 and December 31, 2022, respectively. We did not record any material gains or losses on these investments during the three months ended March 31, 2023 and 2022.

Financial Derivative Instrument

Financial Derivative Instruments and Risk Management	3 Months Ended
	Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Derivative Instruments and Risk Management	Financial Derivative Instruments and Risk ManagementAs part of our risk management techniques, we periodically purchase over the counter energy derivative instruments to manage our exposure to the effect of changes in the price of aircraft fuel. Prices for the underlying commodities have historically been highly correlated to aircraft fuel, making derivatives of them effective at providing short-term protection against sharp increases in average fuel prices. We do not hold or issue any derivative financial instruments for trading purposes. Aircraft Fuel Derivatives We attempt to obtain cash flow hedge accounting treatment for each fuel derivative that we enter into. This treatment is provided for under the Derivatives and Hedging topic of the FASB Codification which allows for gains and losses on the effective portion of qualifying hedges to be deferred until the underlying planned aircraft fuel consumption occurs, rather than recognizing the gains and losses on these instruments into earnings during each period they are outstanding. The effective portion of realized fuel hedging derivative gains and losses is recognized in aircraft fuel expense in the period during which the underlying fuel is consumed. Ineffectiveness occurs, in certain circumstances, when the change in the total fair value of the derivative instrument differs from the change in the value of our expected future cash outlays for the purchase of aircraft fuel. If a hedge does not qualify for hedge accounting, the periodic changes in its fair value are also recognized in interest income and other. When aircraft fuel is consumed and the related derivative contract settles, any gain or loss previously recorded in other comprehensive income is recognized in aircraft fuel expense. All cash flows related to our fuel hedging derivatives are classified as operating cash flows. Our current approach to fuel hedging is to enter into hedges on a discretionary basis. We view our hedge portfolio as a form of insurance to help mitigate the impact of price volatility and protect us against severe spikes in oil prices, when possible. The following table illustrates the approximate hedged percentages of our projected fuel usage by quarter as of March 31, 2023 related to our outstanding fuel hedging contracts that were designated as cash flow hedges for accounting purposes. Aircraft fuel call option spread agreements Second Quarter 2023 30.5 % Third Quarter 2023 30.1 % Fourth Quarter 2023 20.0 % The table below reflects quantitative information related to our derivative instruments and where these amounts are recorded in our financial statements (dollar amounts in millions): March 31, 2023 December 31, 2022 Fuel Derivatives Asset fair value recorded in prepaid expense and other current assets $ 8 $ 3 Longest remaining term (months) 3 3 Hedged volume (barrels, in thousands) 4,380 450 Estimated amount of existing losses expected to be reclassified into earnings in the next 12 months $ 4 $ 2 Three Months Ended March 31, 2023 2022 Fuel Derivatives Hedge effectiveness gains recognized in aircraft fuel expense $ 1 $ — Hedge losses on derivatives recognized in comprehensive income $ (5) $ — Percentage of actual consumption economically hedged 9 % — % Any outstanding derivative instrument exposes us to credit loss in connection with our fuel contracts in the event of nonperformance by the counterparties to our agreements, but we do not expect that any of our counterparties will fail to meet their obligations. The amount of such credit exposure is generally the fair value of our outstanding contracts for which we are in a receivable position. To manage credit risks we select counterparties based on credit assessments, limit our overall exposure to any single counterparty, and monitor the market position with each counterparty. Some of our agreements require cash deposits from either JetBlue or our counterparty if market risk exposure exceeds a specified threshold amount. We have master netting arrangements with our counterparties allowing us the right of offset to mitigate credit risk in derivative transactions. The financial derivative instrument agreements we have with our counterparties may require us to fund all, or a portion of, outstanding loss positions related to these contracts prior to their scheduled maturities. The amount of collateral posted, if any, is periodically adjusted based on the fair value of the hedge contracts. Our policy is to offset the liabilities represented by these contracts with any cash collateral paid to the counterparties. There were no offsetting derivative instruments as of March 31, 2023 and December 31, 2022.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Comprehensive income (loss) includes changes in fair value of our aircraft fuel derivatives which qualify for hedge accounting and unrealized loss on available-for-sale securities. A roll forward of the amounts included in accumulated other comprehensive income (loss), net of deferred taxes for the three months ended March 31, 2023 and 2022 is as follows (in millions): Aircraft Fuel Derivatives Available-for-sale securities Total Balance of accumulated income (loss), at December 31, 2022 $ 1 $ (1) $ — Reclassifications into earnings, net of deferred taxes of $— (1) (1) — (1) Change in fair value, net of deferred taxes of $(1) (4) — (4) Balance of accumulated loss, at March 31, 2023 $ (4) $ (1) $ (5) Balance of accumulated income (loss), at December 31, 2021 $ — $ — $ — Reclassifications into earnings, net of deferred taxes $— — — — Change in fair value, net of deferred taxes of $(1) — (1) (1) Balance of accumulated loss, at March 31, 2022 $ — $ (1) $ (1)

Special Items

Special Items	3 Months Ended
	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Special Items	Special Items The following is a listing of special items presented on our consolidated statements of operations for the three months ended March 31, 2023 and 2022 (in millions): Three Months Ended March 31, 2023 2022 Special Items Union contract costs (1) $ 95 $ — Spirit acquisition costs (2) 17 — Total $ 112 $ — (1) As discussed in Note 6, we incurred and recognized $95 million for a ratification payment and adjustments to paid-time-off accruals resulting from pay rate increases for the three months ended March 31, 2023. (2) We incurred and recognized $17 million in Spirit acquisition costs, primarily related to professional fees for the three months ended March 31, 2023.

Entry into Merger Agreement wit

Entry into Merger Agreement with Spirit Airlines	3 Months Ended
	Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Entry into Merger Agreement with Spirit Airlines	Entry into Merger Agreement with Spirit Airlines As previously disclosed, on July 28, 2022, JetBlue entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Spirit and Sundown Acquisition Corp., a Delaware corporation and a direct wholly owned subsidiary of JetBlue (“Merger Sub”), pursuant to which and subject to the terms and conditions therein, Merger Sub will merge with and into Spirit, with Spirit continuing as the surviving corporation (the “Merger”). As a result of the Merger, each existing share (“Share”) of Spirit’s common stock, par value $0.0001 per share, will be converted at the effective time of the Merger into the right to receive an amount in cash per Share, without interest, equal to (a) $33.50 minus (b) (i) to the extent paid, an amount in cash equal to $2.50 per Share and (ii) the lesser of (A) $1.15 and (B) the product of (1) $0.10 multiplied by (2) the number of Additional Prepayments (as defined below) paid prior to the date of the closing of the Merger (the “Closing Date”) (such amount in subclause (B), the “Aggregate Additional Prepayment Amount”). On or prior to the last business day of each calendar month commencing after December 31, 2022, until the earlier of (a) the Closing Date and (b) the termination of the Merger Agreement in accordance with its terms, JetBlue will pay or cause to be paid to the holders of record of outstanding Shares as of a date not more than five The Closing is subject to the satisfaction or waiver of certain closing conditions, including, among other things, the receipt of Spirit stockholder approval, which was obtained on October 19, 2022, the receipt of applicable regulatory approvals, and the absence of any law or order prohibiting the consummation of the transactions. Spirit, JetBlue, and Merger Sub each make certain customary representations, warranties and covenants, as applicable, in the Merger Agreement, and the Merger Agreement contains certain termination rights for JetBlue and Spirit which, in certain cases, will result in the payment of termination fees by JetBlue or Spirit, as applicable. Refer to Note 3 for further detail of the $3.5 billion Senior Secured Bridge Facility issued to fund the purchase of Spirit.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation JetBlue Airways Corporation ("JetBlue") provides air transportation services across the United States, the Caribbean and Latin Am erica, Canada, and England. Ou r 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 2022 audited financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2022 ("2022 Form 10-K").
Cash Equivalents	Cash equivalents
Investment in Debt Securities	Available-for-sale investment securities Our available-for-sale investment securities include investments such as time deposits, commercial paper, and convertible debt securities. The fair values of time deposits and commercial paper are based on observable inputs in non-active markets, which are therefore classified as Level 2 in the hierarchy. The fair values of convertible debt securities are based on unobservable inputs and are classified as Level 3 in the hierarchy. Equity investment securities Our equity investment securities include investments in common stocks of publicly traded companies. The fair values of these instruments are classified as Level 1 in the hierarchy as they are based on unadjusted quoted prices in active markets for identical assets. Other investments Our wholly-owned subsidiary, JetBlue Technology Ventures, LLC ("JBV"), has equity investments in emerging companies that do not have readily determinable fair values. In accordance with Topic 321, Investments - Equity Securities of the FASB Codification, we account for these investments using a measurement alternative which allows entities to measure these investments at cost, less any impairment, adjusted for changes from observable price changes in orderly transactions for identifiable or similar investments of the same issuer. Investment in Debt Securities Investment in debt securities consist of available-for-sale investment securities and held-to-maturity investment securities. When sold, we use a specific identification method to determine the cost of the securities. Available-for-sale investment securities. We did not record any material gains or losses on these securities during the three months ended March 31, 2023 and 2022. Refer to Note 7 for an explanation of the fair value hierarchy structure. Held-to-maturity investment securities. We did not record any material gains or losses on held-to-maturity investment securities during the three months ended March 31, 2023 and 2022.
Equity Method Investments	Equity Method Investments Investments in which we can exercise significant influence are accounted for using the equity method in accordance with Topic 323, Investments - Equity Method and Joint Ventures
Other Investments	Other Investments Our equity investment securities include investments in common stocks of publicly traded companies which are stated at fair value. The carrying amount of our equity investment securities, which are recorded within investment securities in the current asset section of our consolidated balance sheet, was $11 million and $8 million as of March 31, 2023 and December 31, 2022, respectively. We recognized a net unrealized gain of $3 million on these securities in other income on our consolidated statement of operations during the three months ended March 31, 2023 and an unrealized loss of $2 million in other income on our consolidated statement of operations during the three months ended March 31, 2022. JBV has equity investments in emerging companies which do not have readily determinable fair values. In accordance with Topic 321, Investments - Equity Securities

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Disaggregation of revenue	The following table provides the revenues recognized by revenue source for the three months ended March 31, 2023 and 2022 (in millions): Three Months Ended March 31, 2023 2022 Passenger revenue Passenger travel $ 2,026 $ 1,490 Loyalty revenue - air transportation 156 113 Other revenue Loyalty revenue 100 88 Other revenue 46 45 Total revenue $ 2,328 $ 1,736
Contract with customer, contract asset, contract liability, and receivable	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): March 31, 2023 December 31, 2022 Air traffic liability - passenger travel $ 1,624 $ 1,291 Air traffic liability - loyalty program (air transportation) 998 1,000 Deferred revenue (1) 525 530 Total $ 3,147 $ 2,821 (1) Deferred revenue is included within other accrued liabilities and other liabilities on our consolidated balance sheets. The table below presents the activity of the current and non-current air traffic liability for our loyalty program, and includes points earned and sold to participating companies for the three months ended March 31, 2023 and 2022 (in millions): Balance at December 31, 2022 $ 1,000 TrueBlue ® points redeemed (156) TrueBlue ® points earned and sold 154 Balance at March 31, 2023 $ 998 Balance at December 31, 2021 $ 891 TrueBlue ® points redeemed (113) TrueBlue ® points earned and sold 134 Balance at March 31, 2022 $ 912 The timing of our TrueBlue ® point redemptions can vary; however, the majority of our points are redeemed within approximately three years of the date of issuance.

Long-term Debt, Short-term Bo_2

Long-term Debt, Short-term Borrowings and Finance Lease Obligations (Tables)	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Schedule of long term debt	The carrying amounts and estimated fair values of our long-term debt, net of debt acquisition costs, at March 31, 2023 and December 31, 2022 were as follows (in millions): March 31, 2023 December 31, 2022 Carrying Value Estimated Fair Value (2) Carrying Value Estimated Fair Value (2) Public Debt Fixed rate special facility bonds, due through 2036 $ 42 $ 43 $ 42 $ 43 Fixed rate enhanced equipment notes: 2019-1 Series AA, due through 2032 505 360 504 345 2019-1 Series A, due through 2028 157 128 157 124 2019-1 Series B, due through 2027 82 88 82 87 2020-1 Series A, due through 2032 547 473 546 457 2020-1 Series B, due through 2028 135 144 135 142 Non-Public Debt Fixed rate enhanced equipment notes, due through 2023 — — 61 60 Fixed rate equipment notes, due through 2028 409 343 447 422 Floating rate equipment notes, due through 2028 48 43 56 49 Sale-leaseback transactions, due through 2034 378 295 341 329 Unsecured CARES Act Payroll Support Program loan, due through 2030 259 130 259 126 Unsecured Consolidated Appropriations Act Payroll Support Program Extension loan, due through 2031 144 70 144 68 Unsecured American Rescue Plan Act of 2021 Payroll Support loan, due through 2031 132 65 132 62 Convertible senior notes due 2026 740 551 739 534 Total (1) $ 3,578 $ 2,733 $ 3,645 $ 2,848 (1) Total excludes finance lease obligations of $1 million and $2 million at March 31, 2023 and December 31, 2022, respectively. (2) The estimated fair va lues of our publicly held long-term debt are classified as Level 2 in the fair value hierarchy. The fair value of our non-public debt are estimated using a discounted cash flow analysis based on our borrowing rates for instruments with similar terms and therefore classified as Level 3 in the fair value hierarchy. Refer to Note 7 for an explanation of the fair value hierarchy structure. We have financed certain aircraft with Enhanced Equipment Trust Certificates ("EETCs"). One of the benefits of this structure is being able to finance several aircraft at one time, rather than individually. The structure of EETC financing is that we create pass-through trusts in order to issue pass-through certificates. The proceeds from the issuance of these certificates are then used to purchase equipment notes, which are issued by us and are secured by our aircraft. These trusts meet the definition of a variable interest entity ("VIE"), as defined in Topic 810, Consolidation of the FASB Codification, and must be considered for consolidation in our financial statements. Our assessment of our EETCs considers both quantitative and qualitative factors including the purpose for which these trusts were established and the nature of the risks in each. The main purpose of the trust structure is to enhance the credit worthiness of our debt obligation through certain bankruptcy protection provisions and liquidity facilities, and also to lower our total borrowing cost. We concluded that we are not the primary beneficiary in these trusts because our involvement in them is limited to principal and interest payments on the related notes, the trusts were not set up to pass along variability created by credit risk to us, and the likelihood of our defaulting on the notes. Therefore, we have not consolidated these trusts in our financial statements.
Schedule of Maturities of Long-Term Debt	At March 31, 2023, scheduled maturities of our long-term debt and finance lease obligations were as follows (in millions): Year Total Remainder of 2023 $ 216 2024 237 2025 204 2026 943 2027 189 2028 and thereafter 1,790 Total $ 3,579

Loss Per Share (Tables)

Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Schedule of earnings per share, basic and diluted	The following table shows how we computed loss per common share for the three months ended March 31, 2023 and 2022 (dollars and share data in millions): Three Months Ended March 31, 2023 2022 Net loss $ (192) $ (255) Weighted average basic shares 327.6 320.5 Effect of dilutive securities — — Weighted average diluted shares 327.6 320.5 Loss per common share Basic $ (0.58) $ (0.79) Diluted $ (0.58) $ (0.79)

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Summary of flight equipment commitments	As of March 31, 2023, our committed expenditures for aircraft and related flight equipment, including estimated amounts for contractual price escalations and predelivery deposits were as set forth in the table below (in billions): Flight equipment commitments (1) Year Total Remainder of 2023 $ 1.5 2024 2.2 2025 1.7 2026 1.3 2027 1.0 Total $ 7.7 (1) The timing of these commitments is based on our contractual agreements and may be subject to change based on modifications to contractual agreements or changes in the delivery schedules. Our firm aircraft orders included the following aircraft at March 31, 2023: Year Airbus A321neo Airbus A220 Total 2023 11 17 28 2024 13 30 43 2025 11 24 35 2026 12 14 26 2027 14 — 14 Total 61 85 146

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Fair value, by balance sheet grouping	The following is a listing of our assets and liabilities required to be measured at fair value on a recurring basis and where they are classified within the fair value hierarchy as of March 31, 2023 and December 31, 2022 (in millions): March 31, 2023 Level 1 Level 2 Level 3 Total Assets Cash equivalents $ 599 $ — $ — $ 599 Available-for-sale investment securities — 157 13 170 Equity investment securities 11 — — 11 Aircraft fuel derivatives — 8 — 8 December 31, 2022 Level 1 Level 2 Level 3 Total Assets Cash equivalents $ 665 $ — $ — $ 665 Available-for-sale investment securities — 324 13 337 Equity investment securities 8 — — 8 Aircraft fuel derivatives — 3 — 3
Debt Securities, Held-to-Maturity	The carrying value and estimated fair value of our held-to-maturity investment securities, were as follows (in millions): March 31, 2023 December 31, 2022 Carrying Value Fair Value Carrying Value Fair Value Held-to-maturity investment securities $ 177 $ 171 $ 177 $ 170

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Schedule of marketable securities	The aggregate carrying values of our short-term and long-term debt investment securities consisted of the following at March 31, 2023 and December 31, 2022 (in millions): March 31, 2023 December 31, 2022 Available-for-sale investment securities Time deposits $ 150 $ 285 Commercial paper 7 39 Debt securities 13 13 Total available-for-sale investment securities 170 337 Held-to-maturity investment securities Corporate bonds 177 177 Total held-to-maturity investment securities 177 177 Total investment in debt securities $ 347 $ 514

Financial Derivative Instrume_2

Financial Derivative Instruments and Risk Management (Tables)	3 Months Ended
	Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative instrument in statement of financial position and financial performance	The following table illustrates the approximate hedged percentages of our projected fuel usage by quarter as of March 31, 2023 related to our outstanding fuel hedging contracts that were designated as cash flow hedges for accounting purposes. Aircraft fuel call option spread agreements Second Quarter 2023 30.5 % Third Quarter 2023 30.1 % Fourth Quarter 2023 20.0 % The table below reflects quantitative information related to our derivative instruments and where these amounts are recorded in our financial statements (dollar amounts in millions): March 31, 2023 December 31, 2022 Fuel Derivatives Asset fair value recorded in prepaid expense and other current assets $ 8 $ 3 Longest remaining term (months) 3 3 Hedged volume (barrels, in thousands) 4,380 450 Estimated amount of existing losses expected to be reclassified into earnings in the next 12 months $ 4 $ 2 Three Months Ended March 31, 2023 2022 Fuel Derivatives Hedge effectiveness gains recognized in aircraft fuel expense $ 1 $ — Hedge losses on derivatives recognized in comprehensive income $ (5) $ — Percentage of actual consumption economically hedged 9 % — %

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	A roll forward of the amounts included in accumulated other comprehensive income (loss), net of deferred taxes for the three months ended March 31, 2023 and 2022 is as follows (in millions): Aircraft Fuel Derivatives Available-for-sale securities Total Balance of accumulated income (loss), at December 31, 2022 $ 1 $ (1) $ — Reclassifications into earnings, net of deferred taxes of $— (1) (1) — (1) Change in fair value, net of deferred taxes of $(1) (4) — (4) Balance of accumulated loss, at March 31, 2023 $ (4) $ (1) $ (5) Balance of accumulated income (loss), at December 31, 2021 $ — $ — $ — Reclassifications into earnings, net of deferred taxes $— — — — Change in fair value, net of deferred taxes of $(1) — (1) (1) Balance of accumulated loss, at March 31, 2022 $ — $ (1) $ (1)

Special Items (Tables)

Special Items (Tables)	3 Months Ended
	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of unusual or infrequent items, or both	The following is a listing of special items presented on our consolidated statements of operations for the three months ended March 31, 2023 and 2022 (in millions): Three Months Ended March 31, 2023 2022 Special Items Union contract costs (1) $ 95 $ — Spirit acquisition costs (2) 17 — Total $ 112 $ — (1) As discussed in Note 6, we incurred and recognized $95 million for a ratification payment and adjustments to paid-time-off accruals resulting from pay rate increases for the three months ended March 31, 2023. (2) We incurred and recognized $17 million in Spirit acquisition costs, primarily related to professional fees for the three months ended March 31, 2023.

Revenue Recognition - Revenue R

Revenue Recognition - Revenue Recognized By Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Passenger travel	$ 2,026	$ 1,490
Loyalty revenue - air transportation	156	113
Loyalty revenue	100	88
Other revenue	46	45
Total revenue	$ 2,328	$ 1,736

Revenue Recognition - Contract

Revenue Recognition - Contract Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Air traffic liability - passenger travel	$ 1,624	$ 1,291
Air traffic liability - loyalty program (air transportation)	998	1,000
Deferred revenue	525	530
Total	$ 3,147	$ 2,821

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation of Revenue [Line Items]
Contract with customer, liability, revenue recognized	$ 858	$ 693
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01
Disaggregation of Revenue [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	3 years

Revenue Recognition - Current A

Revenue Recognition - Current And Non-Current Air Traffic Liability (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenue From Contract With Customer [Roll Forward]
Beginning balance	$ 1,000	$ 891
TrueBlue® points redeemed	(156)	(113)
TrueBlue® points earned and sold	154	134
Ending balance	$ 998	$ 912

Long-term Debt, Short-term Bo_3

Long-term Debt, Short-term Borrowings and Finance Lease Obligations - Narrative (Details) - USD ($)		3 Months Ended
	Oct. 21, 2022	Mar. 31, 2023	Dec. 31, 2022	May 16, 2022
Line of Credit Facility [Line Items]
Repayment of long-term debt and finance lease obligations		$ 109,000,000
Pledged assets not separately reported flight equipment		6,000,000,000
Morgan Stanley | Line of Credit
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity		200,000,000
Morgan Stanley | Line of Credit | Revolving Credit Facility and Letter of Credit Facility
Line of Credit Facility [Line Items]
Long-term line of credit		$ 0	$ 0
Second Amended And Restated Agreement | Citibank | Line of Credit
Line of Credit Facility [Line Items]
Line of credit facility, current borrowing capacity	$ 550,000,000
Line pf credit cacility, maximum borrowing capacity, increase limit	50,000,000
Line of credit facility, maximum borrowing capacity	$ 600,000,000
Debt instrument, basis spread on variable rate	1%
Debt instrument, basis spread on variable rate, floor	0%
Second Amended And Restated Agreement | Citibank | Line of Credit | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate	2%
Senior Secured Bridge Facility | Long-term Debt
Line of Credit Facility [Line Items]
Debt instrument, face amount				$ 3,500,000,000
Senior Secured Bridge Facility | Goldman Sachs Bank U S A Bank Of America N A and Bof A Securities Inc | Bridge Loan | Spirit Airlines, Inc.
Line of Credit Facility [Line Items]
Debt instrument, face amount				$ 3,500,000,000

Long-term Debt, Short-term Bo_4

Long-term Debt, Short-term Borrowings and Finance Lease Obligations - Maturities Of Our Debt and Finance Leases (Details) $ in Millions	Mar. 31, 2023 USD ($)
Debt Disclosure [Abstract]
Remainder of 2023	$ 216
2024	237
2025	204
2026	943
2027	189
2028 and thereafter	1,790
Total	$ 3,579

Long-term Debt, Short-term Bo_5

Long-term Debt, Short-term Borrowings and Finance Lease Obligations - Schedule of Carrying Amounts and Estimated Fair Value of Debt (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Long-term debt	$ 3,578	$ 3,645
Long term debt, fair value	2,733	2,848
Finance lease, liability	1	2
Fixed rate special facility bonds, due through 2036
Debt Instrument [Line Items]
Long-term debt	42	42
Long term debt, fair value	43	43
2019-1 Series AA, due through 2032
Debt Instrument [Line Items]
Long-term debt	505	504
Long term debt, fair value	360	345
2019-1 Series A, due through 2028
Debt Instrument [Line Items]
Long-term debt	157	157
Long term debt, fair value	128	124
2019-1 Series B, due through 2027
Debt Instrument [Line Items]
Long-term debt	82	82
Long term debt, fair value	88	87
2020-1 Series A, due through 2032
Debt Instrument [Line Items]
Long-term debt	547	546
Long term debt, fair value	473	457
2020-1 Series B, due through 2028
Debt Instrument [Line Items]
Long-term debt	135	135
Long term debt, fair value	144	142
Fixed rate enhanced equipment notes, due through 2023
Debt Instrument [Line Items]
Long-term debt	0	61
Long term debt, fair value	0	60
Fixed rate equipment notes, due through 2028
Debt Instrument [Line Items]
Long-term debt	409	447
Long term debt, fair value	343	422
Floating rate equipment notes, due through 2028
Debt Instrument [Line Items]
Long-term debt	48	56
Long term debt, fair value	43	49
Sale-leaseback transactions, due through 2034
Debt Instrument [Line Items]
Long-term debt	378	341
Long term debt, fair value	295	329
Unsecured CARES Act Payroll Support Program loan, due through 2030
Debt Instrument [Line Items]
Long-term debt	259	259
Long term debt, fair value	130	126
Unsecured Consolidated Appropriations Act Payroll Support Program Extension loan, due through 2031
Debt Instrument [Line Items]
Long-term debt	144	144
Long term debt, fair value	70	68
Unsecured American Rescue Plan Act of 2021 Payroll Support loan, due through 2031
Debt Instrument [Line Items]
Long-term debt	132	132
Long term debt, fair value	65	62
Convertible senior notes due 2026
Debt Instrument [Line Items]
Long-term debt	740	739
Long term debt, fair value	$ 551	$ 534

Loss Per Share (Details)

Loss Per Share (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	1.6	2.9

Loss Per Share - Computed Basic

Loss Per Share - Computed Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Earnings Per Share [Abstract]
Net loss	$ (192)	$ (255)
Weighted average basic shares (in shares)	327.6	320.5
Effect of dilutive securities (in shares)	0	0
Weighted average diluted shares (in shares)	327.6	320.5
Basic (in dollars per share)	$ (0.58)	$ (0.79)
Diluted (in dollars per share)	$ (0.58)	$ (0.79)

Crewmember Retirement Plan (Det

Crewmember Retirement Plan (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Retirement Benefits [Abstract]
Percentage of employees pay	100%
Years of service	5%
Percentage of compensation in cash	3 years
Percentage Of employees' gross pay for which the employer can contribute a discretionary profit sharing contribution to the Plan.	5%
Period of discretionary contribution	3 years
Percentage Of FAA licensed employees gross pay for which ER can contribute discretionary profit sharing contribution to plan	3%
Percentage of company contribution to pilots retirement program	16%
Pilots retirement vesting period	3 years
Percent of eligible pre-tax profits the company contributes to profit sharing until the pre-tax margin is 18%	10%
Profit sharing calculation trigger, pretax margin	18%
Percentage of eligible pre-tax profits the company contributes to profit sharing when pre-tax margin is above 18%	20%
Contribution to employee retirement plan	$ 66	$ 62

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) $ in Millions	1 Months Ended	3 Months Ended
	Jan. 31, 2023	Mar. 31, 2023 USD ($) aircraft	Mar. 31, 2022 USD ($)	Feb. 28, 2023 lawsuit	Dec. 31, 2022 lawsuit	Feb. 28, 2022 aircraft	Apr. 30, 2021 airport
Unrecorded Unconditional Purchase Obligation [Line Items]
Restricted assets pledged under letter of credit | $		$ 45
Letters of credit | $		65
Restricted assets pledged related to workers compensation insurance policies and other business partner agreements | $		36
Number of northeast airports | airport							4
Collective bargaining agreement contract extension period	2 years
Union contract costs | $		$ 95	$ 0
Employment agreement term		5 years
Automatic renewal term, employment agreement, term		5 years
Renewal notice period, employment agreement, period		90 days
Loss contingency, pending claims, number | lawsuit				4	4
JFK Millennium Partner LLC
Unrecorded Unconditional Purchase Obligation [Line Items]
Ownership percentage		5%
Airbus A220
Unrecorded Unconditional Purchase Obligation [Line Items]
Option exercise, number of aircraft						30
Option exercise, number of aircraft, remaining available						20
Number of aircrafts for the remainder of 2023		11
Airbus A321neo
Unrecorded Unconditional Purchase Obligation [Line Items]
Number of aircrafts for the remainder of 2023		4
A321 neo LR
Unrecorded Unconditional Purchase Obligation [Line Items]
Number of aircrafts for the remainder of 2023		4

Commitments and Contingencies_2

Commitments and Contingencies - Flight Equipment Commitments (Details) $ in Millions	Mar. 31, 2023 USD ($) aircraft
Unrecorded Unconditional Purchase Obligation [Line Items]
Remainder of 2023 | $	$ 1,500
2024 | $	2,200
2025 | $	1,700
2026 | $	1,300
2027 | $	1,000
Total | $	$ 7,700
2023	28
2024	43
2025	35
2026	26
2027	14
Total	146
Airbus A321neo
Unrecorded Unconditional Purchase Obligation [Line Items]
2023	11
2024	13
2025	11
2026	12
2027	14
Total	61
Airbus A220
Unrecorded Unconditional Purchase Obligation [Line Items]
2023	17
2024	30
2025	24
2026	14
2027	0
Total	85

Fair Value - Fair Value Hierarc

Fair Value - Fair Value Hierarchy (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Assets
Available-for-sale investment securities	$ 170	$ 337
Fair Value, Recurring
Assets
Cash equivalents	599	665
Available-for-sale investment securities	170	337
Equity investment securities	11	8
Aircraft fuel derivatives	8	3
Fair Value, Recurring | Level 1
Assets
Cash equivalents	599	665
Available-for-sale investment securities	0	0
Equity investment securities	11	8
Aircraft fuel derivatives	0	0
Fair Value, Recurring | Level 2
Assets
Cash equivalents	0	0
Available-for-sale investment securities	157	324
Equity investment securities	0	0
Aircraft fuel derivatives	8	3
Fair Value, Recurring | Level 3
Assets
Cash equivalents	0	0
Available-for-sale investment securities	13	13
Equity investment securities	0	0
Aircraft fuel derivatives	$ 0	$ 0

Fair Value - Held to Maturity I

Fair Value - Held to Maturity Investment Securities (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Reported Value Measurement
Schedule of Held-to-Maturity Securities [Line Items]
Held-to-maturity investment securities, Fair Value	$ 177	$ 177
Estimate of Fair Value Measurement
Schedule of Held-to-Maturity Securities [Line Items]
Held-to-maturity investment securities, Fair Value	$ 171	$ 170

Investments - Short-Term and Lo

Investments - Short-Term and Long-Term Investment Securities (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Investment securities
Available-for-sale investment securities	$ 170	$ 337
Held-to-maturity investment securities	177	177
Total investment in debt securities	347	514
Time deposits
Investment securities
Available-for-sale investment securities	150	285
Commercial paper
Investment securities
Available-for-sale investment securities	7	39
Debt securities
Investment securities
Available-for-sale investment securities	13	13
Corporate bonds
Investment securities
Held-to-maturity investment securities	$ 177	$ 177

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Debt and Equity Securities, FV-NI [Line Items]
Equity method investments	$ 37,000,000		$ 38,000,000
Gain (loss) from equity method investments	0	$ 3,000,000
Debt securities, unrealized gain (loss)	3,000,000	$ (2,000,000)
Cost method investments - jetblue tech ventures	$ 87,000,000		83,000,000
Measurement alternative, ownership percentage	10%
Cost method investments - TWA flight center hotel	$ 14,000,000		14,000,000
Fair Value, Recurring
Debt and Equity Securities, FV-NI [Line Items]
Equity investment securities	11,000,000		8,000,000
Level 1 | Fair Value, Recurring
Debt and Equity Securities, FV-NI [Line Items]
Equity investment securities	$ 11,000,000		$ 8,000,000

Financial Derivative Instrume_3

Financial Derivative Instruments and Risk Management - Hedged Percentages Of Our Projected Fuel (Details) - Fuel - Call Option	Mar. 31, 2023
Derivatives, Fair Value [Line Items]
Second Quarter 2023	30.50%
Third Quarter 2023	30.10%
Fourth Quarter 2023	20%

Financial Derivative Instrume_4

Financial Derivative Instruments and Risk Management - Fuel Derivatives (Details) - Aircraft Fuel Derivatives - Fuel $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2023 USD ($) MBoe	Dec. 31, 2022 USD ($) MBoe
Derivative [Line Items]
Asset fair value recorded in prepaid expense and other current assets	$ 8	$ 3
Longest remaining term (months)	3 months	3 months
Hedged volume (barrels, in thousands) | MBoe	4,380,000	450
Estimated amount of existing losses expected to be reclassified into earnings in the next 12 months	$ 4	$ 2

Financial Derivative Instrume_5

Financial Derivative Instruments and Risk Management - Hedging Effectiveness (Details) - Aircraft Fuel Derivatives - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Hedge effectiveness gains recognized in aircraft fuel expense	$ 1	$ 0
Percentage of actual consumption economically hedged	9%	0%
Comprehensive Income
Derivative Instruments, Gain (Loss) [Line Items]
Hedge losses on derivatives recognized in comprehensive income	$ (5)	$ 0

Financial Derivative Instrume_6

Financial Derivative Instruments and Risk Management - Narrative (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Aircraft Fuel Derivatives
Derivative [Line Items]
Offsetting derivative instruments	$ 0	$ 0

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Accumulated other comprehensive income (loss), net of taxes
Beginning balance	$ 3,563
Reclassifications into earnings, net of tax	(1)	$ 0
Change in fair value	(4)	(1)
Ending balance	3,373
Reclassifications into earnings, tax	0	0
Change in fair value, tax	(1)	(1)
Accumulated Other Comprehensive Income (Loss)
Accumulated other comprehensive income (loss), net of taxes
Beginning balance	0	0
Ending balance	(5)	(1)
Aircraft Fuel Derivatives
Accumulated other comprehensive income (loss), net of taxes
Beginning balance	1	0
Reclassifications into earnings, net of tax	(1)	0
Change in fair value	(4)	0
Ending balance	(4)	0
Available-for-sale securities
Accumulated other comprehensive income (loss), net of taxes
Beginning balance	(1)	0
Reclassifications into earnings, net of tax	0	0
Change in fair value	0	(1)
Ending balance	$ (1)	$ (1)

Special Items (Details)

Special Items (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Special Items
Union contract costs	$ 95	$ 0
Spirit acquisition costs	17	0
Special items	$ 112	$ 0

Entry into Merger Agreement w_2

Entry into Merger Agreement with Spirit Airlines (Details) $ / shares in Units, $ in Millions			3 Months Ended
	Nov. 03, 2022 consumer	Jul. 28, 2022 $ / shares	Mar. 31, 2023 USD ($) $ / shares	Mar. 31, 2022 USD ($)	Dec. 31, 2022 $ / shares	May 16, 2022 USD ($)
Business Combination, Separately Recognized Transactions [Line Items]
Common Stock, Par or Stated Value Per Share			$ 0.01		$ 0.01
Payment for Spirit Airlines acquisition | $			$ (33)	$ 0
Number of plaintiffs | consumer	25
Goldman Sachs Bank U S A Bank Of America N A and Bof A Securities Inc | Bridge Loan | Senior Secured Bridge Facility
Business Combination, Separately Recognized Transactions [Line Items]
Debt instrument, face amount | $						$ 3,500
Spirit Airlines, Inc.
Business Combination, Separately Recognized Transactions [Line Items]
Common Stock, Par or Stated Value Per Share		$ 0.0001
Acquisition price (in dollars per share)		33.50
Business acquisition amount equal to extent paid (in dollars per share)		2.50
Payment of ticking fee, per share (in dollars per share)		$ 0.10
Additional prepayment period		5 days
Prepayments | $			$ 330
Spirit Airlines, Inc. | Minimum
Business Combination, Separately Recognized Transactions [Line Items]
Business acquisition amount equal to extent paid (in dollars per share)		$ 1.15