JBLU - Earnings call transcript Q1 2021 | JetBlue Airways Corporation

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Operator

Good morning, my name is Fate [ph]. I would like to welcome everyone to the JetBlue Airways First Quarter 2021 Earnings Conference Call.

As a reminder, today's call is being recorded. At this time, all participants are in a listen-only mode. I would now like to turn the call over to JetBlue's Head of Treasury and Investor Relations, Ursula Hurley. ahead. go Please

Ursula Hurley

that [ph]. us Fate This everyone thanks a and we call. during Thank our Good first joining presentation and release for our call. will quarter for reference issued this you, earnings morning we XXXX morning earnings

filed documents of Revenue place discuss been due Operating our Executive Robin our about to Actual the in of results and investors are those results website of Officer; investor.jetblue.com of New Priest, President Head JetBlue statements our and Also and Travel Steve Scott from therefore, should Officer. the not for may Chief Products. our and forward-looking Chief available on differ are statements. future Officer; Revenue are events. All materially SEC. reliance call President Joanna VP those our statements In Sales Management; This on expressed many and forward-looking at Financial has Barry, Laurence, with Dave to and us Geraghty, Planning; and York these Hayes, Andres Chief joining morning's undue factors Q&A Clark, includes

For to other information of press please from statements, the XX-Q concerning refer we may during call, to our financial could the factors forward-looking results non-GAAP additional cause and SEC. with measures. reports differ course filed release, Also our that the several discuss

non-GAAP Hayes, available the now GAAP of I'd please measures, over to CEO. to refer on call these like And tables which measures release, our earnings end turn to reconciliation at a the our Robin of the For copy a to of JetBlue's website. is

Robin Hayes

good on and morning and everyone, Thank regulators for the call. you, those Ursula,

job as Relations Dave position the the JetBlue, IR room been JetBlue, voice, thanks best IR also, our he's that congratulations team. our the so and notice Carlos to team we amazing on And with and doing Investor done your change he's in Head and years, not new in for also Ursula the who has me farewell duty an Fintzen, of David leaders here Juan leaving to You year. are obviously, many of the my Scott double say but of to assuming portfolio, many have will like of part for

So JetBlue our VP - benefits the the is Airlines our efforts David in leading and delivering is NEA, on and and NEA now customers. which a with single-mindedly of growth our as fares terms partnership for focused the low of David American of

us also your the very Barry Andres role Products. as joining call of today new as new JetBlue a have I well. So on best Travel said, Dave in the President we And as addition

with all work determination. through the the passion now crew time does history. member, to Good start member So was crew on to October together lost our thank who and a our with just everyone. let's ground in another again. call a COVID-XX. extraordinary friends, to thanking amazing incredible the us have like a I joined by we've he for [ph] get family members crew ops it members their our family, Alex's JetBlue fellow serve and of They such the to to moment XX,XXX would of that XXXX of COVID-XX. a take to work with, out and to with member in as continue in our by most for done morning remember crew pandemic, been impacted Alex, worked go I'd hearts as Tampa nearly the since to like customers challenging Alexander have that our And start us we decade. as

presentation, to and to ESG JetBlue area the to decisiveness presented the the with our continues I'll for by start pandemic as our an let's JetBlue's overcome have recovery the members crew while our foundation where on the for slide setting with update lead success. an value challenges Our industry a demonstrated airline generate efforts, move stakeholders. X. team many Starting future and

to actions risks business and societal demand, an last address on the our and the long-term I'll are with and overview the changes reduce targets impact We environment enhancing plan. Starting financial taking quarter. we of announced mitigating provide our environment.

over goals, July, is carbon achieved from XX% in flying XXXX offsets, equipment we of next-generation also and carbon reducing converting our In using support aircraft XXXX. returns. net interim emissions carbon half which reduce electric. increase fuel domestic the to by goal levels, jet zero ground ultimate by our short to Our per achieve aviation emissions fuel-efficient ASM for changing set vehicles we of and all term, investing fuels, to sustainable emissions to our neutrality Since XXXX are we've XX% include last

Hydrogen. subsidiary technology a the JB us over start-up zero emissions with Our long in venture towards is net to Universal JetBlue companies like help positioning charter path investments and term

our social, crewmembers Chauvin how Floyd's pipeline through enhanced protecting we're inclusion has direct us onto change over and recent - murder diversity can how on talent equity re-examined equity The empowering our reminds focusing year strategy. tackle been by we focused for and Moving diversity past have catalyst help George and the and societal on verdict systemic we a examined at JetBlue. we racism have our

with our a greater more clear to We leaders are and diverse program. talent access gateway emerging slate new creating our effort building accelerated college platform have our parts select towards of including

to serve. brand businesses growing our also and the minority communities are and with with we spend committed build and ensuring our and enhances women-owned trust connections customers strategy we are We diverse

controls embedded sub-committee Board our ESG accountability Lastly, of regarding governance, an our Directors. of have with from and increased oversight we

incorporated performance incentive leadership factors plan. recently as our addition, compensation senior measures ESG we into In

last of Turning now quarter, In we per X. the an adjusted Slide to share reported loss $X.XX.

and progress rolling out, territory, to remains ongoing meaningful the recovery Although we in have travel, the by in crisis improving groundwork believe have meaningful a we seen with mid-February, booking encouraged the vaccination in are demand into acceleration we JetBlue. have as summer. the the COVID-XX stronger a leisure momentum emerge we will continue Since trends our the EPS gain to have demand and seen negative started we from laid from

We are and customers growing friends friends our demand, bringing capture share visiting relatives our plan from VFR, we back and of in family a markets. leisure to visiting and response in improving and to revenue capacity

importantly, are taking actions More bring margins. us back we a number superior of powerful aimed on to

Moving future. XXXX, in to Slide from to more be X, our work could confident looking back I our not

burn, continue burn. executing rebuilding reducing recovery our our Our margins, with teams sheet. our cash comprehensive Starting cash balance repairing and our plan,

first milestone profitability. positive seen positive have operations our We step is EBITDA achieving for March and returning this to towards cash from and

as and to balance will support designed results our the over and levels. margins sheet. accelerating We we approaches and JetBlue network, To With build recovery. pre-pandemic been our as our leisure initiatives coming have our balance months allocation commercial, expect operating sheet cost, we our fleet executing demand six margins improving to our network, respect focus strengthening repair on capital and focused cities we help are rebuild

unique have have opportunities us that to would We available have before pandemic. of been taken the not advantage

American New we to have trusted fares, diversified a strategic will foresee also serve and remain a customers. alliance route service strength with and areas Boston, some and low brand, JetBlue. expanded for demand We our long-term Airlines more of In York and outstanding map investments better relative unique markets delivers that to

starting low London our inaugural Lastly, this fares bringing award-winning both Transatlantic and market summer. the we and to co-product will in later soon announce Mint our flight

in Moving details to plan will our coming Joanna to I'll over the where have minutes. a improve and highlight to we unit progress revenue front, the additional provide areas of continue our significant we years. revenues three implement made couple

with customers The provides first low latest update is of our our options, more fare fares. which

in credit will enhance which loyalty we contracting card Secondly, the the of our of meaningfully stages economics are program. our co-brand we RFP, expect

momentum Products. we Travel Third, with seeing JetBlue are

two has JetBlue of XXXX performed last months, the Vacations Over ahead well levels.

tailored leverages a very a travel to launch will individual excited customer earnings offers believe based are technology contributor about are engagement, days, be their seeing on We significant of month's itineraries. growth. for we last In to early this customers that new I great smart site its already future provide Paisly,

our while low we executing capacity enables to higher the cost back, low to plan, driving model low-cost as comes our keep us costs with compete committed front, fares business margins. On our remain

variable our than XXXX and XXXX. ex-fuel continue cost to to in a produce provide CASM, to better reshape path base We fixed

help order of consists aircraft solely book our network next-generation our will execute plans margins. fleet, us that Regarding structurally better producing while

aircraft, first entered service low-density both aircraft our AXXX that equipped AXXX of also cabin. transcon yesterday. flights expect into first our delivery are selling first long-range thrilled our type with incredible next-generation aircraft We've to we take started and We AXXXneo on our tomorrow,

of of towards funding approach offering. while optimizing overall optimistic will Lastly, challenges are aircraft structure, a we reducing allocation, crisis In our of current as about our the convertible continue changes while and on we balanced successful weather to took our make cost reducing plan at the the placing company. values our our the we've a needed Last quarter, debt. mission year, to capital to a conclusion, navigate people to we staying investing step our margins true built culture and and the we in we that heart capital debt to with future, so maintain

to us make of you. the for over laid We stronger Joanna, years opportunity foundation to come. great a truly JetBlue, have and a have ahead to airline

Joanna Geraghty

response demand. crew up deepest ensuring Robin. for accelerating you, ramp a we with my safe Thank start thanks members our as to in I'll operation capacity to

vaccinated more and have pleased key and are across people We the network. quarantines our in testing been been locations requirements Northeast US removed travel have the that and other for in

to up setting a to are serve JetBlue. We of our operation number growing customers accordingly returning

year latest a at six-point end in X, of a from better the assumption. to planning quarter Moving quarter, slide two, prior our declined our sequential over the revenue XX% improvement first sitting the

expected saw the we beginning for in anticipated a trends demand step-up improving quarter, mid-February. bigger in While initially than travel leisure during we

March. Our January from day $X in increased per million cash early end of to by million revenue the $XX

as curve largely with plan ahead levels Additionally, the travel their as expected customers factors is finished booking of quarter XX% mid-'XXs. we our back load further JetBlue pre-pandemic factors load quarter ended increasingly at at the with for average in length and first now the

and geographies. all our of with pleased the are improvement We broad across demand

East driving quarantine Our our proved West as Transcon for quickly recovered franchise in again region setback requiring markets and also our as Coast testing Latin and international cities. strengthened increased from that relaxed Demand and the CDC focus quarter the resilient - the orders and our measures quarter to followed Florida arrivals. Caribbean

For the revenue started. sequential pandemic is improvement XXXX, our year-over-two, between assumption since quarter largest for second a XX% our and decline the XX% in of revenue the planning

We meaningfully expect to both and improving driven by unit revenue factors load improve yields. increasing

cash the and forward months. revenue we bookings, average factors system are higher we since seen 'XXs expect been million start through per summer upcoming level Our as to Based about that in high optimistic remain them the on day. April, mid $XX as or have at of quarter. load April, we the In have the

latest year. are that they have and since put survey take trips show to bookings Our data customers increasingly last willing off

rates that are our We products for Vacations is traffic attach leisure ramping JetBlue which increasing signals up also well. seeing

However, for potential down will future to travel. given a could return remain we slow flexible restrictions the that

continued our Blue normalizes segments. initiatives deploy ultra-low updated As now changeability, our to and best Options in our fare levels. have cater pre-pandemic Robin in-flight Blue the basic the proposition price-sensitive to mentioned, to grow with value We competitively as is towards more revenues with capacity basic platform offering product we unit to customers Fare

unit approximate Our new such customer an offerings overhead these estimate and X% frustration. in unique We increase bin extra guaranteed also space will longstanding flexibility features updates addressing in provide steady drive state. Blue Blue revenue and as

we of wide to with load become progress these factors In increasingly continue system. rise. tools beneficial revenue addition, value recovers management The to industry will new demand and our as continue make

immediate expect XXX In and an from We Airlines. our base from booking seen also days, alliance American term, extended and a window network to meaningful in impact with medium our investments, the our our and we following increase booking have rollout. significant revenue notably the

We the benefits to reaping Travel also JetBlue Products. anticipate our start in investments of

early have merchandising targeted XXXX, So a revamp highs. believe in in the result and and strategy attach put is We far product marketing seen at this capabilities. our year, of significant advancements place updated rates, we and performance pricing margins we all-time this gross in bookings sales

year. the Finally, We contribution signing to gap of our our we baseline stabilizes to over revenue next initiatives as the dollar next We our expected loyalty few are and co-brand believe over getting this revenue the RFP. years. ready revenue to earnings the will our us close anticipate announce in peers outcome the help

XX% Turning to capacity on Slide first declined X. our quarter, year-over-two. the capacity In flown

managing the we've focused rebuild balancing During supply been maximize demand to revenue pandemic, on our and margins. our through and capacity

given year-over-two is assumption approximately the planning our demand. capacity XX% For quarter to decline strong sequential XXXX, the second and for of improvement

the Our scheduled of end affirms through June.

make peaks manage few the of changes additional troughs to to the summer. the the weeks, Over rest and for next plan some we

are for expect our capacity and our remain from We to coming the XX months well-positioned in fleet summer. aircraft ramp to only the in storage

approach remain nimble opt-out time normalizes. voluntary members thoughtful back crew early to and allowed us demand offering off on Our scale us the as pandemic during and to programs has help

Over past up returning members crew work operation our in training to our hiring scale to to and the year, and to continued numbers are have demand. we address rapidly increasing undergo in specific areas are

We maintain while up of utilization protecting health will scale JetBlue. financial down our needed of course flexibility to the as or

leisure markets, In VFR are our terms we performance. and very of with pleased

flight our plan relevance and for expansion we which service further progress implementing to expect and we better added to code-sharing Mexico. will profitably path grow great We week. the South Boston This and expands airports. quarter, scarce weeks late Key to in flight inaugural last York mid-June, we announced JetBlue first further City launch Los a a Guatemala Cabos, coming utilize to at with launched operated ago our Florida. which alliance in We're our and New and Two years we our in February American to Miami to over provide making Airlines, Northeast infrastructure West,

more the additional alliance, destinations, of the forward and Our Through and NII new To the the low of JetBlue, both growth customers future. have schedules, a in are frequencies, date, JetBlue course has new improved and flown in new Northeast. American from XX we by total markets, are benefiting opportunities to will more looking announcements XX announced fares.

York XX For example, number the ever notably flights of triple LaGuardia the to at from we by Airport to largest XXXX, flights expect to year. day our than summer New expect this of flights we to per our prior in XX more pandemic later reach

greatly will expanded benefit more a and more fares. network from Our customers than just low

and our customers. working For redeem many serve are a and teams travel will and ramp we with currently American big to close JBLU operation earn between you points the up our benefits I programs. reciprocal the on establish the JetBlue loyalty tirelessly to offer thank working members, ability our to to are who we will

we setting With success. we to to our two acknowledge While hard the demand with are foundation pleased over Thank remaining for the true quickly, Steve. our tremendous returning values past for the in put months. so you, and the team over work, future you that,

Steve Priest

$X.XX. share the was loss benefit and for Revenue operating expenses our per loss loss EBITDA and operating their I'd the you, by financial future XX% like brief presented on down of adjusted of Slide also I'll excluding was thank and challenges and $XXX year-over-two to GAAP to was adjusted Joanna, could year-over-two; results crew overcome million, not XX% Thank XX% and million morning members share everyone. quarter. were down start JetBlue. with the I overview our good XX the to leaders. resilience be a PSPX, were from per year-over-two; down expenses prouder $X.XX pandemic ensure the was $XXX of success

structure we As first despite our reached successfully and of EBITDA was March, result and anticipated our repairing improving to we step mid-March. performance, prices. first the operations revenue the our This in we a cash Starting manage mentioned trends Robin from balance was range continue breakeven fuel cost adjusted our operational quarter in with towards ahead of sheet. took increasing

the to believe year. and in will and EBITDA end breakeven and For negative million an will the On fees. expect range partly prices through we we cost positive second an our landing the acceleration of from remain million in fuel will between we reflecting third the $XXX of pressures by territory that estimate offset basis, and EBITDA quarter rents quarter, negative demand airport $XXX reach

through laser that Turning XX, a demand. to bring meet cost focus the we to Slide on control demand are managing volatile environment we with capacity as

payroll This the benefit expenses excludes year-over-two During prices. than XX% adjusted our the higher million and PSPX. first assumptions declined fuel operating from despite $XXX quarter, of initial better our

quarter expenses of total X% Our reduction second a planning year-over-two. for in our is the operating assumption approximately

as This up increases operations customers is points ramp summer. due during quarter-over-quarter the primarily to capacity increase the of in we scheduled to XX serve

to we mitigating while and will driven scaleup. environment, prices, the continue rents maintenance As fuel cost namely by labor cost our higher current manage navigate we headwinds and landing structure near-term the fees,

aggressive starting as result meaningfully are we in pleased are to We to second the a the of CASM, management, quarter. cost in ex-fuel first declining our XX% quarter year-over-two see from XX%

our the start the Cost gone Slide base adding from momentum structure have we to our cost deep the with focus of a XX, Program. to Moving Structural on on fixed since continued our pandemic, cost

XXXX, than to our back providing pre-tax these Last capacity costs compared ultimately fixed XXXX as expand better ex-fuel path quarter, to and EBITDA CASM, XXXX to our levels. achieve margins. intend our to a plan and announced preserve $XXX in reduce we We our expect XXXX. we million between million We to pre-pandemic $XXX to savings get

five on by into in two, limiting real focusses processes one, our in three, airports, example data remaining key estate infrastructure technology footprint disciplined discretionary our rationalize support consolidating evolving centers support business spend, our cloud, moving and and consolidating our and four, spend. five, our driving work the continue efficiencies and centers improve to and, applications IT partners Our to and driving functions, data automation areas, both our and for

to continue support Regarding to our and members operational we on bring back across productivity crew frontline variable as the driving focus costs, we the efficiencies our business ramp-up.

to efficiency. our Structural will increase rate the Cost Program fuel see execute to savings continue run We our our and with to plan we continue associated expect to

our higher rents initiatives. to For again a their would expect as we maintenance and cost as headwinds. I for and some and work hard of capacity headwinds to landing engagement levels, the our as well of as margins some to approach we our like XXXX, rebuild in our teams fees related execute airports thank inflationary we continuation rest XXXX revenue

the turning investments cash March, of and XXXX liquidity were short-term to end unrestricted $X.X At our XX. revenue. Now, on of or XX% Slide billion

government Given cost $XXX repairing a salaries, we funds support of and debt. $XXX We our revolver switching our down to strong crew to from $XXX and sheet of In million with quarter, the support our the partially we trends, of million the these the first our liquidity used improving to convertible round of payroll second In balance X.X%. benefits coupon offering facility. successfully our focus also total federal we are million received over debt lowering our members. pay a March, revenue wages and executed from

We million expect to receive to related forthcoming in additional the $XX days an PSPX.

We are jobs. of member support liquidity our position. with administration and their grateful to We comfortable crew industry the remain very for for continued our

program. Given our on draw this continued remaining do to expectation federal us we $X.X not the for intend available XXXX the the Loan under recovery from Act support time, and CARES down through government, at billion to

our act in our additional a As need remains valuable we believe we In loyalty liquidity, result, unencumbered as event various markets. program and most attractive competitive financing we the asset. can

in Mint AXXXLRs. of AXXXneos reimagined aircraft delivery first additional Slide second six two first The cabin. including shelfs with two XX, quarter we our the to three took during expect stands our take we to Moving AXXXneos including and the aircraft at two XXX quarter delivery AXXXs, fleet currently and of

cash. expect forecast $X for which We to approximately majority aircraft, continue capex consists which XXXX, we in using of the billion to fund spend of

XX% are cost enters better the per AXXX As to into about our excited efficiency particularly the compared it seat AXXX. provides we first economics service, with outstanding

believe of We structure our helping to reshape year. XX We including cost additional this fleet seven and us will our pivotal the take decade through expect middle to deliveries margins. be growing this the

prior ratio facility increase at was the in lower opportunistic by Slide pay debt the the the XX a cost March made and convertible driven we end March, to of quarter, of cap down from our credit offering XX%, debt small to Moving to revolving funding.

goal high-cost cash forward cost reducing plan of with to levels. our average produce from prioritize weighted paying Going positive we below of the as we operations, debt debt pre-pandemic to down

XX% back and continue strategic continue ratio our cap measured investment to We to and to strategy. to intend power approach to of metrics will our believe also as amazing and between grow debt XX%. culture we grade return We

a that confident efforts reduction superior crew will our partners, are all us cost our want and margins. path we network team, behalf on JetBlue support. On take We as will commercial that, to put our long-term of business our initiatives, the again for well leadership your back and we our to questions. communities members their of thank With as now and investments owners

Ursula Hurley

now Thank session ready Please instructions. you, Robin, ahead question-and-answer the with the for Joanna, and Steve. go analysts. with we're the Fate,

Operator

you. is is open. Thank line first your Raymond from Your from question Syth Savi [Operator Instructions] James,

Savi Syth

of Hi, just embedded on of of especially everybody. outlook second as behind kind I'm EBITDA cost expectations the what the half for kind the curious side, your are 'XX.

Just you go are from expect that wondering ramp-up standpoint. demand if what a and some there costs away generally,

Steve Priest

Savi, question. Hi, Steve good It's good a here. morning,

with I a cost to high think be continuing as as would grow obviously first over cost that in is thing a, say to continue fixed structure XX% from even terms structure, in the basis, quarter-to-quarter we but grow a down capacity you time, business inherent efficiency. I inefficiencies drive to capital-intensive more on we cost that start the to of capacity alleviates in continues are

and in QX, inherent essence XX%, some so but back, question costs regarding will there we likes are the summer of up we've only got and your about thirdly XXXX, Certainly, with and fees. those quarter-over-quarter, we've maintenance some headwinds up rents that So fleet are then as the peak, CARES discussed. costs are I'm the embed Think working we to always hours, cost we going about that. as have the Obviously, we we talked if rather, the up impacted by QX is summer, ready in think the initiatives associated in of efficiencies as but our the additionally about minimums inefficiencies will efficiencies through make we are that and you as you about remain obviously you we of landing some capacity that get ramp material for scale non-fuel some some terms and which think of scale labor our see have, to XX% quarter, continue second is the crew we sure as pilot the cost incurring back. until of to fixed are sure Act, associated member

to to see because start normalizes, you'll those of in particularly when quite have precipitous I've that think with traffic, some normalize rationalization continues that seen cities that traffic and them, impacted alleviation I see costs. drop industry again some you'll clearly been of sort in a they when

number areas through So that efficient as the year there's navigate a of I think and will become of ultimately we up. rest business the scales more the

Savi Syth

Thank line might helpful you of the Joanna, if on expected. I are That's than color, better new Steve. you. in And, ask markets the that majority quickly mentioned to performing the,

Just of curious are common characteristics pull have any back you or there kind routes those, working new the versus if trends on. that are to in

Joanna Geraghty

Yes, thanks question. great Savi,

disciplined some with added, in two will other we've higher the sure we encouraged place I underperforming those that the and the also, new will markets travel always we've obviously jurisdictions be to think we've but in restrictions trends. making locations the tend do, and been of there in seeing pleased as of counts I'd there back. markets, lag, performance very say be markets performing we and-or the lasting we're where very in, overall markets is case in that scale leisure are that that pretty some performance those well

Savi Syth

Thanks, all. you. Thank

Operator

JPMorgan. from Baker Jamie from is question next Your

open. is line Your

Jamie Baker

for assume how in and expansion. or I'm early your different two you overall obviously are Heathrow might detailed planned at those what Can than Transatlantic by year have first pretty outcome the forecasts have of morning, curious financial be folks. if if today Atlantic were you I they COVID, forecasts, forecasts had XXXX, the looking good Hey, compare to what but strengthened you least the so, much? how pre

Robin Hayes

and Jamie. ask morning, take Scott Good to to one. Hey, going that I'm it's Robin

Jamie Baker

Great.

Scott Laurence

obviously, the has of here. bit Transatlantic appreciate seen a quite I question. Jamie. Hey, And change the

we very I thing disrupt the say would something first cabin feel be to offering have here fundamental to is is confident premium the a that the that do. we're ability think able that I we to strong and going

we I recovery Transatlantic initial think expected a if of still is you the the in mode. to going at portion clear it's what that sort this look of vis-a-vis be pre-COVID,

I the had somewhat to paying think class front-cabin. actually of in us, we the at money sit for extortionate that historically than, own in plan business the fares with their around our people corporate been rather people based looking concept discounting business

our Transatlantic again, as we we you I move overall it move we I our at think to as and think So expected look forward, is, be potential very very confidently to to continues forecast forward look what if strong to and it continues initially service. we and similar be begin

Jamie Baker

recall, that's a is and ago American. could today, you've perimeter topic, Okay, permitted I LaGuardia American, with discussed with relaxation Are second, something to relationship at objected expanded, rule, helpful. your the And if but be potential publicly of part at the got fleet it to the a then perimeter rule you've JetBlue we few fast obviously relationship in was capabilities years I mean the if LaGuardia? have of LaGuardia the evolution a forward you to I mean

Robin Hayes

the on are tradition our happy very we take of week. is as the I'll And about April that call Jamie, first all, Thanks, that.

Jamie Baker

Thank you, Robin.

Robin Hayes

sure whilst view to changed. our the fraction alliance new no-look, But, has our we I in competitor a largest and our on be ecosystem make or as footprint, hasn't work changed, about to new very, the some of view still Woolworths come allowed that significant through with airports are of it's of American and our ecosystem, slot need ever if make modified sort JFK together. appointment that continue it's to would at that our divestiture, work that partners investments with such as to to making an there, us LaGuardia talking some changes our a mean, very significant positive

Jamie Baker

Thanks enough. update. Take fair Okay, it. the care. for Appreciate

Operator

DeNardi Your Stifel. comes of from next question Joseph

Your open. line is

Joseph DeNardi

think expectation said, next morning. earnings that your few XXXX fee from in of card, to I good about you Joanna, that understand expectations $XXX a over the Alaska $XXX, your you can closing are, thanks, talked and economics the Hi, you guys gap I the peer earnings the reported between want million within gap close reported and improving, revenue kind you years. years. co-brand it what few just about in is

Joanna Geraghty

I meaningful with middle by deal as the of remarks, existing coming what Hi, Robin we're discuss it finalist his the and Yes, over the seeing contract thanks results negotiations weeks. economics the for Joe, with we to our we're in improvement we'll be I very in a and describe mentioned of opening are of question. mean the encouraged in more RFP prepared co-brand as the

Joseph DeNardi

just that the just about that of and Steve, are level then, kind having and on on production working maybe against cost CASM same of capacity you moving capacity, structural And account with what's CASM organization. take helpful. Thank the can some you that's headwinds Okay, What a the leaner improving you you. for expectation kind talk all? you into of initiatives, of against

Steve Priest

and Thank in things back just just morning, Yes. It really you the Savi. good the relatively short-term, a discussed I goes of with Joe. to couple

ours, headwind. industry have think so even fixed in like I high intensive an that levels cost capacity a capital of of reductions, short

we the as but a we XXXX on we through as outside continue get good the XXXX, about sure of think get sort that $XXX prepared inflation as maintenance forward of $XXX year, three that I general our get coming those making of we the of assumption change will cost year we XXXX, we into also are other as a I whole and key landing XXXX, obviously of that million aspect, headwind a our and the the around the that and areas, completed into million go is of to there structural labor host needs terms program work fleet and sort rents price undoubtedly of fees go shape cost in cost initiatives, offset through to in of which the think sort fixed variable a of sort that enter those as sorts and we comments, that by from need is standpoint some to will normalized, which of work sorts have we meaningfully items in pressures. outlined to of paradigm through we

Joseph DeNardi

you. Thank Helpful.

Steve Priest

Joe. Thanks,

Operator

is question Oglenski of Your Brandon next Barclays. from

line Your open. is

Brandon Oglenski

in Can exceed had not you Joanna. are or your there guys levels back talk what to you to I need guess or from even Robin value levers then here, get morning, or good to profitability for XXXX threshold pull? like do my guys thanks were prior Hey, it taking maybe you you to or for a questions. and ability Steve are can the other capacity see where proper the get that plan, to recover, you standpoint, back

Steve Priest

$X Brian morning, the EPS time bit I of here. think and the back Steve were about good $X.XX to way we and from from this a building would machine to go Hi, on in been into have back high little and cost how the standpoint, gone also a we've coming only that from we've perspective with sort pandemic, XXXX the our you through as allocation a five in of we blocks the looked commercial of whole offense. not capital business hear but our would be fleet, and defensive

on the took to the the So, our Airlines efficiencies, the alliance as and our then, standpoint, initiatives we're variable talked good extensively both as to Northeast are one to AXXX in fleet. will that from margin whole incredibly revenue revenue stand addition cost work about excited management excited added in incredibly but ramp the about first really so in initiatives RFP, we travel JetBlue, fares Travel referred which the think also side. to, the And we yesterday, put going place cost developing that to to Products are confident that Joanna talked incredibly we're the continue and JetBlue the also then as continue we've host growth we a a And driving driving economics forward forward co-brand potential lower of standpoint I've and for stead. XXXneos go which Northeast focusing very fixed are Robin that of about the being in with about to sort much fleet you great side, talked we structured structure The the that going around exciting with, initiatives with is about drive partnership, American Andres about for. in

about allocation, JetBlue, and regards of acceleration we've repair and about costs, fleet very we capital year So commercial, to margin evolve taken next think beyond. the about capabilities about the I and optimistic future place balance think as when feel you you into you that think sheet with

Brandon Oglenski

And was. I that guess, appreciate quick a I as Joanna, follow-up.

fact, been think off in lifted the I think in have and plane. New by the Northeast restrictions getting York anymore don't in addressed I the government get specifically a

demand regions now? it's easier a seen any that these to the So upside be have in pent-up you exceeding and could revenue as lot realize here people

Joanna Geraghty

I New the their is into mean, encouraged has multiple the some giving well as and are down think for also by to our sales, us Yes. by we Caribbean, period, off timeframe. come network encouraged our York, week. we travel a what there the great which the step by particularly guidance restrictions been the it's in I performing frankly see seeing pleased updated so were fantastic we're geographies, us that's summer very across wind and Overall, We peak Northeast encouraged step Massachusetts, Bahamas last very summer the in into question.

reopen and work So, coordinated easier we that's it customers a there. to makes kind continue all safe to news the thoughtful to for fashion travel that islands the of in way a to in encourage

Brandon Oglenski

you. Thank

Operator

next question - Your sorry, Helane from is from Becker Helane Cowen. Becker

line open. is Your

Helane Becker

but to operator. through second I is percentage thanks new and opportunity increases Thanks the think for guidance short-term everybody quarter, for demand a percentage very the other words, the versus this there giving in fares here traffic about as the that on fares should that summer. is the you're know question, that's Hi, the how we time. raise much, improvement, improvement

Joanna Geraghty

if question, think it, A great about terms Thanks, of you Helane. in XX-XX.

out team in booking ASMs I Clark which manage point yield. while double-digit and TRASM improvements good summer growing and think for load growing in Dave, driven that's being factor and his I'll and we're is to the by normalizing is is that curve yield giving also the both flights. news better the our we're ability

been as So well. change a great that's

Helane Becker

you. thank Okay,

Thanks. think with my - were that two Those I questions. like that. think I

Operator

Duane Your from from Pfennigwerth next Evercore. question is

is Your open. line

Duane Pfennigwerth

guess Good an maybe of still what more letting what or book US this you on A summer Hey, Europe, around question you're for if in of next we handicap odds I to as passengers would US you the Robin, to travel steps morning. thank vaccinated time travel. actually a you. commentary industry this question. the learn, and getting view did do how implemented EU perspective weekend, The from

Robin Hayes

went, think, by Yes, Duane, do think? you you thanks. do the know I Where way,

Duane Pfennigwerth

good deferring a job doing and of You're delegating.

Robin Hayes

Well, it's a team sport, isn't it?

Duane Pfennigwerth

Fair enough.

Robin Hayes

the I started we Anyway, no, more in more some seeing starting some as and I of we I kind Caribbean in between this the tourism for the I markets. top build strike makes and the the just figure that's open can think list done health count sort are to case really to look restrictions, of country's back started hopefully catch-up development positive track they because on to their providing doesn't of summer move to on again some go job look if other our in to because and where said from works markets reductions as you depends the and with look the EU a to of and it balance and of up a here countries a of as vaccinate domestic we've at terrific markets the it number think are to the on that impacts case there's states program, and significant down market no, obviously, was in and that's they've definitely and you UK accessible count US opening confident, I seen what is think accessible driver with I'm ultimately it the they bring the public think vaccines that in their think count What trying now want are here EU seeing the case a work We form know restrictions and vaccination as just sense and right and summer. what it's, in, start markets Joanna a people that I out I what EU sort so of making the up are that and see countries permanent. ability traffic come gives because and of so

Duane Pfennigwerth

at question envision you're team, think if growth to the pointed willing that fourth comment about on for then would you a what And of in percent then capacity quarter we Europe of term. do it, how balance longer and the

about of So words, XXXX in get a back that levels in domestic we balance should between of domestic thinking is it, it be to is growth how you priority, until kind full or 'XX other Europe. 'XX,

Robin Hayes

good I - need think very could to going I'm could you answer. Scott, I Well, do I give deflect a that to

Duane Pfennigwerth

Thank you.

Scott Laurence

indeed. Team sport

minimis. I to think for if So at look again, de it's us be you Europe, going

really of is terms it of In limited. system, as percent ASMs a the the

near they So that again there, be I to six chart. enough the at thing the that first LRs do in, to ASMs that's the looking just really think out future not are lay in I you're produce push would coming up

see for to testing like has in think In you're in evolve very international a and think historically us. we when of to of seen region of we've so this domestic it that the looked has versus terms international, international, has domestic the were going that I Caribbean for we we go saw recovered nicely, kind versus forward, continues as I come balance particularly for growth for us, concerned

we're we leisure, I we're that for again, leisure-oriented the excited in a midst recovery, are that. think built So of about

of strengths that to to allocate going us what's the I right as term. our optimal plays into medium going think international and I short actually forward, is be think growth in domestic, mix we that for

Duane Pfennigwerth

more to taking that could I in, here the if Maybe quarter, questions. in incurring sneak can for the and June you're start-up you quarter speak launch, Europe for one costs September thanks

Scott Laurence

make again we I as we leading off as burden look the crisis, what we air the went is has as possible. think think from as a you're I optimal that sure and think through airplanes customers getting while a don't are people not want that to we way see and look look the summer we and think this, to impact we did forward at at the doing to significant we and I and going happy. again, that So the in lay so our we as forward, up I in go fall,

Duane Pfennigwerth

you. Thank

Operator

Catherine Sachs. from Goldman is question next O'Brien from Your

Your open. is line

Catherine O'Brien

time. the for thanks everyone, morning Good

Completely until JetBlue three laid and about just the of Joanna need for drivers, uptick option is to question the agreement versus the a the we details Products RASM first impact. RASM contract as that largest about just the but the maybe finalized, you'll understand give So, Travel drives high-level, additional think more on you to wait out. should the co-brand fare

Joanna Geraghty

for Cath, question, off, Great Thanks Thanks. my your was apologies. mic sorry question.

changes. environment. track, the upon So, we've meetings I we the mean, would Clearly, XXXX or or revenue I that with we're world would, start we contributor, American to initiatives, the underestimate Airlines NEA in we're contribution is I investor revenue not are and Products as said frankly and the agreements out options more is on calling about a then the that the of card is already X.X, smaller those we're to we in so based of some some go EBIT firm X.X work seeing Travel their revenue of changes of what the communicated XXX numbers. optimistic management going hit numbers XXX point significant scheduled unit stable new going co-brand the one a

we initiatives, give behind stabilizes. will unique in be months, as revenue to we're prepared a the greater larger line are some these significant detail initiatives. So is momentum encouraged contributor Co-brand the environment the by they coming in JetBlue, of overall, the with to other

Catherine O'Brien

for question Steve. second a maybe then, And it. got Okay,

pacing So can priority the down paying have scheduled how opportunities what over for cash to is any opportunities. of you you high-cost it about first do prepay those payments positive next to bolstered you years, think about noted that guys when turns talk or then that opportunities flow the you and delever debt, Thanks. couple maybe

Steve Priest

into had through we been into cash morning, of well sort to much Yes, JetBlue, months facilities we've in not and of we've very We've bring question. saw last have it. only sorts and rates we terms eye as on as through gone but JetBlue, we as on measured through not the China the used cash liquidity going XX strategic based have, that gone good to only XX but bringing very a of an It's good and Caty.

a delighted the we have to and opportunities obviously how we that I from number March do good on forward a and PSPX going I'm position, forward. mean, ops up PSPX we are top based of that So cash we coming. have in go bring positive in generating

that's average we to Coming opportunity and debt. in to lower of my was be now, are the of average high I cost into prepared to our than forthcoming weighted comments, debt a down the at we around cost weighted mentioned level actually pandemic, into as four debt so pandemic. our in reduce weighted ultimately of was the expect and take every pay months over the debt sitting going the And threes, where coming the average cost it it's

comfortable not only I our but goes sheet, of and forward. liquidity with incredibly JetBlue feel as strength So, the where the also costs terms sits driving balance financing in of down

Catherine O'Brien

you. thank Okay,

Operator

Morgan Ravi question Stanley. next Shanker from from Your is

Your line is open.

Ravi Shanker

completely really if everyone. nevertheless, the on given you on I that international of terms follow confidence side like have. above good and core just in the up the RASM, you I morning Joanna, can 'XX, 'XX have us have the of about thinking XXXX be with bank initiatives 'XX good in messy. given ventures advantage can card comment much and the is previous really detail, But response current you on can do appreciate or kind environment Thanks, RASM comfortably to CASM related that you you've idiosyncratic that given that

Joanna Geraghty

right now are. not in where to We're specifically break question. initiatives exactly to good out so the revenue Yes, they a position

seeing we XXXX the has led potential still into later the and do XXXX this are What we're to believe that I are As a recovery, we'll the year, the there we optimistic be the at say we for has we that into and into that that encouraged if fall what will winter, would is we demand leisure strong pent-up believe carry carries date. said, summer however recovery travel a fall. about by is

XXXX access add our extra you and could higher If versus recovery initiatives travelers savings revenue vaccine be four in we at with a locations opening have additional XXXX, strong points there think it's of that we you think series GDP up, and the year. to the frankly, and will XXXX growth look that to be

if mention our I'll piece, these think members year. success, we're brand, to think history committed we and with recovery coastal going us about largely you is we do leisure great trusted positioned, serving this JetBlue is a our unbelievable other serve to markets, very a what a for The of well markets network, is, crew how product, domestic to our

Ravi Shanker

fits to side, Got the NSA venture coming a longer-term was it, obviously investing the be can are thinking a light a kind of targets, interesting, it there, in what you. little investment thinking thank are ESG plans. kind using of on follow-up, you leader you're you long-term a of of more how your for fuel caught eye, but share into as of you that on, maybe pretty hydrogen and my and hydrogen there, And your kind you think what kind kind question

Robin Hayes

and I ours. Great question, try maybe brief I'll topic I'll take could be this because that. talk of about

view emissions order our I an that out that think in to continued something earn certainly come topic to as carbon of our pandemic to industry commitment extremely the continue the be to critical reduce and demonstrate JetBlue we and we takes to sustainability the of right grow. will our the need

is with procedures, very JetBlue we US are airplanes. investing try control short on billions fuel-efficient to to more like term, work fuel more traffic in the medium you air continuing focused know, efficient over dollars So on sustainable government areas the and as aviation of to

for much rely clearly consider so a in We that. aviation, zero make do ways of view a bridging and are to reach to offsets, alternative ground powering we equipment on net plant - stay the we have to aggressively electric But I industry, it way replacing think as aspirations will of airlines the we longer-term that just close carbon greener, electric of ground types around alternative our some with doesn't a equipment. which recognize strategy, we aviation

longer-term least hydrogen option. next airplanes the to a about similar decades a Airbus sort made is going of the I over confined couple as shorter cleaner over intrigued provide think over for are well ability smaller we fuel at of to distances, to be has but comments

this allowed the things, us Tech we aviation these in have Ventures, real get on is why space. smarter subsidiary, to have so investments a And at our and focus it's at considering on sustainable a moment we JT the

Ravi Shanker

thank Great, you.

Operator

Your from Keay Hunter next question is Research. Wolfe from

open. Your line is

Hunter Keay

Thank after in case for you how fall like a thinking school, revenue that, or how you guidance a you. everybody. capacity not scenario terms anything kids obviously about How about good any into are bad but scenario get sort Good the back your just think looking do guys morning, and consumers or case of of behave.

Joanna Geraghty

thanks Yes, Clark I'll then Dave, add color. Hunter and some let

a in and so pandemic, think mindful I of So that. very still we're we're

- we're into we what seeing are summer. we the While by as we've encouraged are stepping said

We also know. don't we what know don't

on believe period what up the that good but hold side, continues or stepping so and bit remaining a upon demand how assuming aren't with do sort comments manage case of be optimistic we stabilize we're at the fall the has and that We on pent cautiously to the obviously there to Dave the that's will of And seeing increase us. corporate timeframe. historically nimble seeing we're a in to be our heart travel a capacity around get The fall into for the take vaccine flexible based trough we're leisure it's there down. on counts, JetBlue, restrictions, any into for continue potential will come that what

want to strong, some an the for you and we add the think be about a Christmas Thanksgiving has we think their that side? to us. families corporate that strong do not on Hanukkah customers visit period had holidays, holidays the have opportunity a over very As to chance Dave, color

Dave Clark

is trickiest time base demand We Joanna. general agree, forecast the Sure. holding and I leisure up Thanks, fall the the at to but year. the think know leisure well, is And is of in the fall the right period I compared in actually now. lowest

as will expect our bookings, talk and and improving, back low base as just but we're over about back we or two travel So off early mean in we the summer timeframe, that to fall late areas, largest we minus close It's and off been approach do good closely year and good terms XX%. very still low September-October accelerate been how in now robust we your base, still so returning to down but think a question about a go improvement growth corporate business quickly stay to through January, and in XX% customers, fall something as we've seeing in but up, is is, quite these how at so summer, of corporate see ramp occurs office expect phased comes when with especially a is really our we're travel. that capacity. the I exactly revenue we looking early down

Hunter Keay

All just commentary, just, then, to more you. right, Steve, out flush for little think cost thank as And the about we 'XX, a CASM.

of basis toughest. reported the line which one a what the item be to On you is which XXXX as being on P&L, think, below the guys you prospects has do going you unit think single and cost best

Steve Priest

Hunter, morning. Thanks, good

as and I focused its be really think how the rents the for case to that one cases that we've I'd should fees have to specifically, of industry the at landing evolves. the and the on, on we'll has say we're the as toughest headwinds is mentioned keeping that around and one because that continued control see

would partners not direct how servicing I terms for some customers last also our of suggest business looking using driving sales the sale, proposition. think also of through of of think few has we terms terms team distribution, from driving strategy, positive direct standpoint our in about the think done only really automation and of I cost and work our in but the years in over tremendous lens the I the a commercial

side negative to phase and side distribution. the cost and we've being positive positive got on of So, on side running sales and our the the

Hunter Keay

Thank you.

Operator

America. from from Your of is Didora next question Andrew Bank

open. is line Your

Andrew Didora

everyone. to importantly, do Hi, do goal to can in, your to just what get do or cap achieve you XX% a of think get needs XX% is you there that in capital can Steve, terms some morning, you organically this of good form to you just and you be that think raise timeframe think more goal to debt there. other

Steve Priest

morning good Hey, question. Andrew, and good, great

there. very cash industry. and pleased and really, started So very operations also, March we sort we said to in appreciative I'm that gone generating support, and the we've between of momentum been we and about delighted year again, the positive taken this it the we've the from it, they've as administration expected it XXXX the through talked year. for given We've of the always be XXXX

into with pandemic continue sort the that of industry, getting back second about situation. strongest We we So thinking balance to that's came be into sheets the place. the why in in that we

how positive We through, see continue position the evolve, things I've we'll ops, anticipate would but based I happy cash generating with mean, also through market - the going I been a be way that I means, get of I at off, transactions been but but on and planning from ahead that's I won't through the organic myself can't and to done, be is we've XXXX, this expect working assumption we've XXXX quite moment.

Andrew Didora

your or back better Apologies, XXXX, Great, just I relative missed assuming have quick to levels second just this, my XXXX. then getting said next Thanks. level is comments you're if a XXXX year capacity thank on to you. in follow-up. but of And just what you CASM

Steve Priest

Yes, that level a back sort at 'XXish so we it's talked levels of capacity, of about. so that's

Andrew Didora

thank you. okay, XXXX,

you've So got XXXX behind.

Steve Priest

sorry, XXXX. I'm

Andrew Didora

Understood. Thank you.

Steve Priest

It must for the be British that. accent, apologize

Operator

Mike question next from Your Linenberg Deutsche is from Bank.

open. Your line is

Mike Linenberg

everyone. the a was cruises booking brought to related? it maybe book this days maybe something morning pickup else weddings, up there less presumably, people move good reunions, Dave that's nine, segment. is price-sensitive there what Joanna, you window, is this And family about Is XXX just graduations, in out Hey, and or you the XX before. the or who months,

Dave Clark

is I'll this that one. Mike, take Hi, Clark. Dave

Mike Linenberg

Hi, Dave.

Dave Clark

able you're XX, family schedule sort traffic basis to of a revenue on important, the at closer on as put trip booked curve happy the of parts earlier and important yes, the customer, that seven that of and events months events, between on in it's getting things, be selling generally, XX where of ahead the we're consistently XX now type were books time, either milestones, and traffic, XX to not and these of advance, the we price-sensitive some most seasonal or more XX reservation to big Previously, the block right booking days, are is we're booked so in it traffic. getting months of in as big take

Mike Linenberg

type more know can now guys actually than people that that's I are the of I thought, Fort you year, a so extending out? at least and carrier, you gone think cruise booking is with and out too beyond the have Dave, it XXX have you Lauderdale, saying just you there one industry are passenger that it or is big about thought far because have in of now

Dave Clark

a it's months the municipal been only of think we're good. for really pleased with are, now, we where and couple are I results

keep we'll short-term our no the in future, plans. eyes So,

Mike Linenberg

just Okay. And fleet. quick follow-up the on a then,

have storage, I fleet you think hour in 'XX the Thank day have was the it compare sort operating per block you. if if XX only XXXX, in back How mean summer, we mentioned look versus aircraft through versus XXXX? utilization does the that's a I summer you what of at but that in summer. this it was

Joanna Geraghty

Yes, the question. thanks for

but to levels slightly XXXX summer little we we're closer back time getting step as point, XXXX them lower to below bit this expect into So at approach a there. the frame, we

Mike Linenberg

great. Okay,

Joanna Geraghty

Thanks.

Mike Linenberg

Dave. Thanks, Joanna. Thanks,

Operator

from Your next UBS. from Walton Myles question is

open. Your line is

Myles Walton

basis I looks year-over-two Thanks, context are probably was XX% capacity down XX% versus think in lockdowns the you in these you Caribbean gains that like the LatAm And the XX% kinds levels. are if serve. comment if world, of trending I currently elsewhere to leisure become you from benefiting XXXX good and could on you what if morning. destinations mentioned, wondering of down above a those go-forward XXXX, in disproportionately sustainable more

Dave Clark

of from Dave The at regions and region top and strong has Myles, take performing that one. end Caribbean I'll a very a revenue Clark. Hi, both is our capacity LatAm this the been standpoint.

the have to and selling of year-over-two demand ahead If capacity we August strong you schedules, in our look reflecting there. up actually that and July region performance

Myles Walton

current little quarter, bit you're PSPX to give cash you could going then get that And Okay. on the Thanks. in more this specific a Steve.

Steve Priest

Yes, so the administration. to thanks sort of

billion, $XX If industry. industry billion US it the standpoint, you around about from was for think is $XX PSPX PSPX a

PSPX low So the numbers. you're XX% talking versus

should in and JetBlue the around obviously... ballpark million for be $XXX So

Myles Walton

you. Thank

Steve Priest

blend and a loans is grants of in embedded that. There

Myles Walton

Yes.

Operator

from question Global. is from last McKenzie Dan Seaport Our

Your open. line is

Daniel McKenzie

you've me perspective for I pretty wins appreciate tap here. that, are to are that you've historically to you've could not talked they in that examples any cumulative to now, say for and regarding of so of accounts, accounts the the squeezing and the Fortune bigger spend get are the or smaller that ones there first these depressed collective already the relationship trying guess demand seen you Thanks American, A corporate - any accounts I is from right corporate couple just whether corporate some jointly I'm but questions. potentially blocked related or what and been time. on into fortunate just XXX is with

Scott Laurence

great Scott. our providing competition and make joint handle NEA So, say and sales to will this is lower sort is a of in here still that that the we're working in the the we're fares process we're experience think enough market. that case again I sure to through early customers I and goal to

something and number particularly to haven't York in here again providing New appropriate it's short a on of we out jointly think working I So, our in term and in competition that I think partner that forward in the played rolling we're be going previously. with to we the markets, look

Daniel McKenzie

spend collective could, tap wallet billion the $XX at billion, that looking that is you into. And to potentially you're $XX

Scott Laurence

I So have of kind a on each at for I follow other here, think good that. you. we'll we're looking up answer

Daniel McKenzie

Okay.

Second question cover. what what of American new percent of here. XX% relationship think in overall percent quarter new partnership and it the the of network first the The total flying was the the American of flying does that flying, in was support I

Scott Laurence

XX% So bit grown as little has touches airports of that of and we the a sort our itself any covers relationship which network about number forward. move

So based NEA upon bit. you're see comes LaGuardia up the as enter a going to that to we're number able

the the big of it we either was a anticipation associated what NEA chunk in or added, added of NEA. So with

York in that's whether competition, provide LaGuardia carrier to able there. New we're dominant markets at the the of the with there, number a dominant So carrier with

I work what disrupter. a playing of think of monopolies think can enjoying as role sort is something benefits for a doing I up that's of we're us breaking here number we're that and the of the

Daniel McKenzie

Very good, thanks.

Ursula Hurley

XXXX a us concludes hope you day. morning call. joining for our Thank first conference you that all all this have we great And and quarter

Operator

And participation. that for conclude today's Thank your conference. again, you will

JetBlue Airways (JBLU) 27 Apr 212021 Q1 Earnings call transcript