JBLU - Earnings call transcript Q2 2024 | JetBlue Airways Corporation

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Operator

Good morning. My name is Brittany, and I would like to welcome everyone to the JetBlue Airways Second Quarter 2024 Earnings Conference Call. [Operator Instructions] As a reminder, today's call is being recorded. [Operator Instructions] I would like to turn the call over to JetBlue's Director of Investor Relations, Koosh Patel. Please go ahead, sir.

Koosh Patel

Brittany. Thanks, and call. us everyone, quarter our for earnings XXXX thanks morning, for joining second Good we our morning, will This issued reference that a during we presentation this call. earnings release and

website Hurley, documents Marty our available SEC's those St. at New are George, our In our President; Officer. to www.sec.gov. and Chief Joanna of All Geraghty, website on our our Chief on at Financial are the discuss results Ursula York and investor.jetblue.com Executive Officer;

industry contained operations may most impacts risks actual refer these our are Please and statements release for fiscal our XX-K statements and and year earnings XXXX. those as within and well and respect results financial quarter provisions those our uncertainties, as forward-looking limitation, our detailed All and and subject strategy, a our financial forward-looking headwinds, meaning statements today's other statements. of of Securities trends, discussion future results business. and statements. such that on harbor position, future for make During our and call, materially or without expectations safe revised the cause in to from of our to to financial expressed to in targets, XXXX Litigation and and associated the we'll recent XXXX differ forward-looking with achieve financial differ plans our third include, operational the year regarding from statements Reform Such tailwinds outlook to operations materially Private filings market could more full uncertainties risks the of Act ability of actual targets, results including long-term forward-looking

certain call, than of and our update reliance the the are required forward-looking this as on undue made during of we Also discuss of these information. undertake financial other the made to the measures. date may non-GAAP only should we course Investors place obligation may law, by statements not statements. be no call call as during The

our a and GAAP of of sec.gov. release, the website is Geraghty, earnings I'd turn CEO. which reconciliation For an like to on refer of measures our these corresponding over non-GAAP Joanna copy JetBlue's to and explanation now And at a to measures, please call available

Joanna Geraghty

Koosh. everyone, second our you, quarter for Good earnings thanks and Thank morning, joining call. XXXX

Operator

Please standby.

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Joanna Geraghty

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without morning, the reliable of our thank would day. our we to Good I'm and second and XXXX for happy second that and I everyone, earnings This pretax not joining a be report income performance possible would quarter. XX,XXX operation million safe for $XX delivering adjusted for and JetBlue thank our call. you values to living quarter crew for members, generated every them like

remarks a Turning to second our on quarter few for Slide performance. X

Our we from best the the team over been has hard busy experience deliver travel our at summer work season. ensuring customers

customers remarks, to strategy, challenges investments As persistent weather which our issues. reliability will on our more summer deliver to despite traffic part on my and improve made their staffing control from our refocused in later significant long-term of touch of air we've destinations time I and

or X This improve, start. are performance a beat improvement the quarter we off still for for second exceeded And the we XXXX to have exceed we key to helped our first guidance year, metrics. ranges. our us Though room solid of have months operational

with our revenue, double our to by space second In digits product year-over-year. strength continued up unit offerings more aided even premium addition was performance reliability, quarter in

approximately first million line $XXX this We benefit [Audio are also our of the top pleased in year. progress XXX the of realized half with of Gap]

were to moderate profit able our for quarter, to to while result, We costs we quarter. in pretax fuel keep the in from as programs savings also continued cost the low positive second progress prices generate delivered a order strong a and

through Moving X X. Slides to

quarter, even implementing our are additional performance announcements team we mentioned were details to now second strategy. pleased I with in And long-term As the with leadership to as around these year. our we last more coalesce near-term refining the full improvement new half of share come initiatives, you still

Our competitive research. rooted and well in of the longer-term as extensive plan is a customer near- analysis thorough landscape as

framework are we result, success. JetBlue for which our JetForward we it's confident the a As are calling strategy, in right refocused confident to and feel position

its core to customers, This designed to effectively be inherent and value basic our order the business enhance overcome to profitable owners. to our current loved in challenges to crew to at members and of is our is strengths strategy JetForward deliver again our our a and industry. and back be framework

are overcome. clear, to challenges are Pratt working as all aircraft are our industry-wide engine-related Our are cost and impeding Whitney growth the inflation groundings, & hard headwinds persistent our which we which profitability significantly pressuring well as traffic issues, air control of rate and

At control. the and cost to generating growth operating in revenue will be has set can on our focusing enhancing We executing in the to our that, on a back us achieving lead is long-term. been and driving need enough which outpace day, to to sustainable and believe goal end positive over these the margin not fix why earnings our and of foundation of rooted we our is our near-term the challenges we the what strengths targets strategy strategy

be a believe structure drive that geographies, high-value with a all a ultimate our which culture value delivering set trusted value enhanced from even service and and that product is JetBlue has unique a goal. to peers, low-cost have differentiated apart its more brand, we and can We of

Turning X. to Slide

an EBIT profitability. our $XXX to contribution to million in XXXX, versus sustained million helping deliver of We XXXX year-end expect path incremental $XXX JetForward to guide back to

of in initiatives the that to to million already contribution to expect beyond underlying to $XXX this million EBIT their of incremental XXXX. XXXX XXXX The benefit We as announced revenue $XXX realize to is we've several initiatives for with over potential. $XXX XXXX upside XXXX, evenly in ramp full million addition

forward. indications designed encouraging familiar, the #X, of restoring back Slide We #X, our X several strengths leisure the our Coast X investments East already and the our to see drive offering you with secure financial service deliver airline. advantage #X, building from the service; best all And actioning turbocharge network; initiatives that the particular, in plan to perks reliable value; on customers moves, balance our products early driving enabled results They and we've caring maintaining across path delivering #X, which value are first first sheet. moves to our priority are: and X, sound reliable a may them cost and These can on by we half given seen In underlying in year. began of quarter. future, showing

our essential our performance, peers in success reliability by our in partially it's driven strategy, outsized crowded in and customers. some concentration the is to spaces of Operational lagged of traffic our for exposure flying air to on-time a of the top world the priority and We've high our control air most issues.

relative significantly particular recognizing years. consistent optimizing our to phases many a on we will with the customer multiyear and delivering While of we've a action to coming we operability working and are fleet, aiming our begun of experience. are on-time the investment, already taking providing product airspace, our service initiative reliable and a be This in and the ranking reality of always improve improve performance

out tools. time include and scheduling flights self-service rolled introducing for we as turn maintenance, customer-facing new for adding greater enhanced Initiatives year VFR management disruption such this more and automated and buffers tools scheduled tracking

of will incremental investments these to time, over and on improve that in expect EBIT save XXXX. helping costs, We $XXX customer about million satisfaction contribute

Next, we Coast our the are network. leisure build network best refocusing to East

Our some network of most the the world. sits geographies in in valuable

significant refocus network the markets geographies: of is the City, Rico, in JetBlue for East East which GDP-producing along and our in customers. Coast, and a X a leisure, the strengths the VFR action in first household around Puerto the the United metro largest many to States. have area Coast We is where including York on of already position We've especially core in in highest the these half leading X New name taken transcon, our year

profitability of has our to geographies. As close will in our changes in our drive Marty on XXXX. we've our and by expect beloved history as emphasized, core million contribution a specifics are focus long actions. JetBlue on EBIT we more will actions incremental brand provide $XXX these guided a

customers, Our proposition, to well that affordable, experience value is be profitable increased differentiated experiences. our need for an to attractive an desire we including We offering customers. evolving yet of known preferences recognize loved, meet the premium and by

on to will expand and the is customers We specifically for rewarded they want by also may would delivering our quality in on strategy a feel premium loyalty. perks our Customers of offering focused us but that This, us their who more customers. value than the higher Our ensure today. that competitors. our brand promise ever believe enable products feel share help experience turn, forgotten customers

to to product plan exciting this partners addition year, announce changes to we've additional enhancing offering, new we products already product later In loyalty including and this adding Blue implemented our the Basic improvements our and year.

tuned. So stay

contribute of to million EBIT While financial them remainder the into upside changes over benefits the benefit XXXX, our incremental time of $XXX the in realize, additional product with of we expect take to decade. will

our on secure financial move, future. touching a last Finally, priority

our we when can must our what an this control our we so manage this most believe with continue the efforts, maintaining customers is low, be and in keep we cost offering they advantage. fly. imperative It our we While starts will output of also is better costs value

our long-term. continue now will on we ability significantly increase the Pratt However, business expect on the this. detail Whitney And plan more challenge Ursula our XXXX. & in engines to our ground provide to over GTF to aircraft

transform contribute science back to with And in in through be to cost get in this will we've biased uncertain about and expect incremental network EBIT optimization, towards required the XXXX. decisions base our staffing making of bold we approach manner, similar investments million savings our we to action In our environment, profitable be through data to worth taken business order must cost an $XXX profitability. changes. aggressive in We'll

reduce and is to a come our AXXXneo produce maintenance and With wait balance that they expenditures parked an are health. issues. delivery balance improve growth. to profitable sheet required and defer with a will unable capital-intensive Whitney our that free Pratt helping XX Airbus to return lengthy We to impacted This outlook are times. flow in us by and to critical & because must to financed aircraft, upon to be returning cash also invest due GTF our by be agreement Restoring have secure future capital to the assets billion, the fleet which most we've simply financial restore upcoming subsequently continue sheet mind, cannot health that $X our to in

be will crew unique organization number culture the through of success. JetForward, with second business our that improvements a entire In indicate evolving strategy. survey, our showed in members which While maintaining we of to many a its parts optimistic quarter, our pulse about refreshed are is checked core our with

are ensure our Our to critical execution people investing continue success. strategy, of will them to our and in the we

navigate and million we updates will through you As fill EBIT announcements the beyond, we towards number of to of XXXX progress in a in can regularly expect will share help million $XXX the the strategy, remaining additional gaps $XXX on remainder our that target. and our

on provide to our over that, With Marty commercial detail more to progress.

Martin St. George

And year, my the $XXX crew in I amount first their dedication we been to at revenue we Joanna. of our in the announced initiatives significant. XXXX. like for of beginning months for The appreciate rollout service that of package thanks At this expected drive has I of a of would JetBlue. extend million incremental members you, X crew to JetForward. we've change members to our supporting and implemented Thank

the of We million remain additional quarter initiatives this year. of the XXXX. revenue the now an thus These $XXX progress of top are achieve pleased initiatives total first $XXX track with second in of half of in and far the and those have captured benefit to million million on a generated $XXX line

will and rate high of continue XXXX we and JetForward, beyond. through With activity this progress

about earlier include -- to JetForward in expect Refocusing $XXX the this $XXX entirely EBIT, While network to year. revenue we the million initiatives, of million $XXX the the changes $XXX building million Coast significant as incremental the in JetForward EBIT XXXX. we expect our key And year through XXXX. XXXX incremental drive we've support is included moves which this moves of announced priority made of mentioned, leisure the to JetForward. Joanna we one It's XXXX XXXX and generate between East network, of network and uplift best priority million will

closures City network patients of profitability tranches X announced has for XX over and and redeploys. station driving we've routes. our needs collectively earn lessened route XXXX, way network to into in and our far changes, its Every XX So Blue for underperforming push closures route end our

is now have know VFR and New profit and England, long JetBlue: core transcon from geographies that These Puerto for on what Caribbean. core New East focus our Our franchises. Florida Leisure, we routes, and love the the York, call our squarely Coast like JetBlue, and X Rico been engine

well customers proposition our and network on with quicker leisure stronger to long resonates of and history the changes those of the ramp value entrenchment serving these made given Coast. Our geographies, deep recovery the by our in East Many we are driven areas travel.

and capacity corporate-focused VFR and York, we've As out into leisure specifically routes. in New shifted and result, a of routes

strategy the our high-value our in our leisure and other attractive the We'll grow presence customers continue In geographies, core proposition New committed as to Across and remains the our the Florida leisure and remain value ensure leisure and offering to to the spectrum same. to such expand being of across serving Caribbean, England, customers. carrier invest to region. continuing remains business alike value destinations customer we our product #X full

For bag for offering complementary a Basic example, to Blue we travel X. beginning our announced adding September carry-on recently

us Our our only proposition our believe results. meaningful have to to step profitability. to we've ago, fare option, competitive. affordable to Not a change is value of addition a a allowed the on we Blue month it's this since promising path seen And launching early necessary most about Basic remain

announcements to offer customers plan at on our including premium products our additional in to JetForward's more enhancements XXXX perks for tuned and offerings. Stay value,

Shifting XX. on Slide performance to our second quarter

X.X%, X factor with reliability Second and about our revised quarter driven was Completion the beating weather-related midpoint was better of our better the for capacity midpoint than by offerings down our full growth the line more point. managing Revenue XX.X% revised down finished This X than grow revenue the of our markets, quarter. improving in digits leisure double bookings increases peaks and digits down in strength X.X%, We over even in RASM higher up than continue in guidance point was revenues supported our weigh of supply month Latin course in investments saw space the more X%. quarter, slightly by where guidance of disruptions. continue by premium to performing in low Unit challenged unit troughs XX% industry remain performance. better about single expectations to net with capacity. and on XXXX,

of you have about as are the third look However, shape to we quarter, the take seen optimistic the year. capacity start we since the evolution

markets As our second competitive down come the points quarter. lower X modestly in than now capacity overlap has and is

we more demand it balance. predicted, coming As to is compared into elevated still but growth, it's

and We capacity and trough are also match reducing taking to demand. measures better supply self-help

flown. a increased, troughs core network our to to more capacity leisure historically adjust As with on we've to exposure geographies, we've our peaks to travel optimized leisure has focus our and pronounced than seasonality us prompting more curve

trough of to about we but year-over-year. half significantly fly reduced most where flying fewer are we've Accordingly, scheduled XXXX, ASMs throughout in September, XX% second the

during part of We reducing utilization as aircraft peak to our are improve efforts reliability. also months

capacity As X% third we a result efforts, X% expect to to be year-over-year. down of these down quarter

Our capacity forecast revenue contraction year-over-year. in X.X% quarter. X.X% to revenue for the constructive a unit to And down backdrop be to provides growth third we down improve year-over-year

positive sequential expecting RASM year-over-year ranges, improvement. are midpoint the of our At we and healthy

the by down capacity markets, revenue our expect ramp will in of unit third the and of We XXXX. Northeast Alliance lapping supported of our our Latin trajectory competitive the wind revenue continued be the of the leisure initiatives in quarter improvements

to capacity. full on X% down be to revenue down the less growth to X% For X.X% X% expect we year,

how is success. we are improvements a on understand excited solid JetForward, do with are a of pivotal to ensuring targets, our and see we focused crew And strategic our multiyear that our as closing, we its framework on there members about. In deliver they work the though result built to initial to business still to including strategy,

support Our for JetBlue, to profitability. path our differentiated JetForward's to I as to they the thank provide service their again product customers. is want And incredible service not especially they truly them without

you, With that, over to Ursula.

Ursula Hurley

Thank this the and revenue profitable original delivered beating quarter better on end deliver to crew and you, thanks helping We ranges Marty, with CASM and revised original midpoint the our guidance members for low again second targets of ex our quarter. which of a our point to our than our revised guidance. X.X range, outperforming was

quarter, JetForward, setting generated soon generated possible. return to the pretax offset we for enough our to it are While won't losses full we adjusted urgency projected profit With million priorities $XX restore with years for to steadfast as the our the profitability the coming we goal X other quarters, year in to profitability. of remain and in financial be as

A sheet generate our operating by sustaining future, restoring capital secure margin moves financial health cash of free priority can discipline X practicing our positive cost is advantage, underpinned improvement, driving we X flow. so balance our and

are each million and to key our these our $XXX overcoming will EBIT $XXX priorities and meeting to million our steps target of success to We taking achieve be challenges. strategy's

get quarter, details I engines. Pratt I & from provide the of our to the the an want update Whitney into status Before on GTF

staffing. our and are like a and planning of even addressing control. to engine significant availability plan full hard GTF are But of have long-term those challenges our the on continue take working our on impact are mitigate. our challenges outside to multitude they responsibility address the for business for something we And we experiencing we to The with overcoming ability. We and need magnitude weather within recognize and and ATC control

resulting unscheduled sooner engine than other after off of In experienced inspections, GTF maintenance number some engine visits challenging metal-related year powder a anticipated, our flying. addition we've much coming just are that engines of in a to wing availability,

this average grounded are outside the a due inspections aircraft fact, of metal. powder XX majority In to year of

Based in to in in of AXXX In to greater continue investing are flat XXXX mid- year-over-year on aircraft XXXX. and beyond. Whitney, be Pratt reach to expecting the numbers drive order This uncertainty number to lives latest roughly in need the capacity XXXX flat & teens fleet. growth, we'll our extend now the high average provided will of we with by grounded the to

we to lives be at to availability aircraft. need may support to is return simply must new extend we to to deliveries. especially leases While of investing profile that the costly can't aircraft, in than this afford parked more the comes due and new a it delivery buy out stage, if cost of aircraft attractive continue issues, raise financing taking At these engine

focus improve Our can be our going outlook. base forward asset driving will our greater flow existing on from free cash we so returns

billion As agreement aircraft XXXX a to expenditures from XXXX and and result, we've to with defer an aircraft over goals. approximately years to reducing get along our the to billion AXXXneo us next to capital Reducing flow expenditures commitments us beyond. of $X.X extension free $X and to allows and our the X approximately to reduce come from order efficiently Airbus This, XXXX closer current Airbus XX our capital-light planned book with cash AXXXs $X.X by billion. our approximately capital XX

performance second Turning cost on to quarter the XX. Slide

performance, than reliability to investments spread solid in resulted over helping planned to more Our more fixed capacity. complete allowing our costs in and flights us operational

additional from the X the quarter than cost driven program, of and half beating savings flights operational ex-fuel cost of a efficiencies point X timing incremental X.X% point of Second midpoint our from grew our structural to completion CASM by year. and guidance points, X by second revised expenses shift year-over-year, of more

to avoidance million of track $XXX for modernization and program $XXX cost our programs from our $XXX Our of current on million savings fleet cost previously million structural cost targets program. to communicated our hit are

our our due transition will date additional program costs million program, cost cost modernization benefits an retired this this $XXX we've to will a of on I full of until resulting in fleet fully continued to realized realized of expected program shortly. cumulative quarter, Through the transformation engine program benefit maintenance. as million structural of focus we'll continue are optimization end million. at rate avoided year, program of part hit EXXXs touch $XX When to This Our $XX run this XXXX. which in JetForward, of our

as We also an fuel prices quarter. decline saw in end prices $X.XX the mid-April the over benefited moderation from between the quarter the and of we of fuel

X.X%. grow step-ups impact hedges third an all remain ex-fuel which shift We we a executed our as quarter. guidance with the by with each In wage -- maintain of fourth our the Whitney January. unplanned we primarily and opportunistic initial quarter. X.X% CASM a X%, points faced our in capacity CASM change of quarter, the scheduled CASM single AXXX quarter year. Despite second in We've expenses in we've agreements costs digits and high Since communicated and of the year X.X to reduction the fourth additional on in strategy result, of XX% third and the the first XX% our for ex-fuel our third we controllable single in and our to compensation to investments labor resulting challenges, up and from hedging X% solidly half to mid- digits have full half Pratt our full cost to trough in fuel recognition, we volume of guidance point mid- quarter in these the expect the ex-fuel from X rate a each including into the unit entered high fleet X.X extension pressured our of points CASM of to impacting headwinds, expect worth for & of into several in to ex-fuel by

as just would the ask if to is imperative taking business, it Now our were we we how when turning our we growth priority important and we in back JetBlue make It's ourselves, plan our approach X XX. Slide basics implement structure with we're way believe to success. we our we we -- changes with advantage, as moves, cost to sustaining our an flat transformational starting faced XXXX especially to today I airline.

data though and categories, we see of our the planning troughs. peaks The to cost years. over optimization all focus our cost aligning specific business in better evaluate has and will program structural science-driven evolved opportunity We

on program business XXXX from enterprise-wide drove while focuses savings efficiencies. current Our program our partner contracts

cost to this our focus $XXX our cost will from across sustain million we about savings, cost our next-generation on add we'll advantage through on and continue EBIT few JetForward our cost the transformation forecast past will cost structure. structural build airline the to transform learnings implementing the technology and programs of next for transformation XXXX look to revealing in We cost more and plan to long-term over forward quarters.

Transitioning fleet an now sheet. XX million in we expect of of second and the take for the quarter. to fleet delivery third our balance aircraft and In the forecasted plans. our we Slide X quarter, provides delivery third quarter, driving X update $XXX CapEx took on to of aircraft,

full and take of capital expect the total to deliveries year, remain XX around year we $X.X a For billion. plan full expenditures to

XXXX. As timeframe, we deferring We that announced XXXX scheduled previously take XX of -- and we to to during previously deliveries quarter, expect XXXX XX delivered are this AXXXneos XXX be AXXX. remaining the being XX down now and that into between from deliveries with were beyond

date, current fleet capacity availability officially we particularly EXXXs in remaining increase. fleet challenges in expect Pratt XXXX related evaluating. the aircraft & These reinvesting We have the AXXXs will base we of and in to prioritize to continue of lives the XX aircraft successfully leave remain extended Whitney asset XX our been our and when backfill, have will provide the and when

our addressing refinance convertible our XX, of financing notes us to to have execute to credit expenditures. April our liquidity, we discussed to in our the better maturities, Moving we million in secured $X.X as including quarter XX ended XXXX fund We current capital CapEx our second will will possible Year-to-date, facility. with the quickly us excluding billion undrawn additional short-term XX to seek strategy generally which liquidity committed liquidity months, our position that $XXX become today. for in to position next our needs debt support $X.X Slide as order strengthen provide and in to opportunities continuously with billion

liquidity of is strength facility, XXXX. our and now extension and the credit which of revolving mature example An amendment in will our

opportunistically portion transactions, markets including capital In are a at unencumbered of execute structured our approximately currently loan be and which by be billion. the to addition, may financing we future may $XX on which syndicated secured valued in assets,

is Our our is our which current unencumbered asset most base. valued program, significant at loyalty unencumbered asset half customer about of

any guarantee will be to them. course, Of and conditions, is we market are execute able on subject there future to financings no

it a I I the Through would to close believe and in of million positive call, making earnings we deliver strategy $XXX Before can getting million have $XXX back are to to clear again. to back how year-over-year improvement strong margin to Joanna focused and our JetForward, EBIT we actionable and to XXXX hand incremental we historical out we emphasize off a return foundation of margin operating on which power.

Joanna, over to you.

Joanna Geraghty

for return to to all for team our I'd of close and thank Thank Plan. work you, the commitment a with owners, to JetForward like our good us. building value want starting by reiterating the Ursula, to behind thank you all I for the joining profitability.

that aggressive every our of action and on front, been believe taking have be JetForward. the attention to has the We are focus strongly execution of on and

coupled strategy our issues, and from Investor now uncertainties longer-term this than the Pratt rather in Day more about & decided we've Given communicate planning Whitney engine the hold the an fall. with to

Our team out our to discuss all communication initiatives forward to outreach we as continuing the of the and we to is you. And plans with X-way ongoing strategic fully additional year. through committed remainder look of roll

our moves I'm and of X to our of as in confident stakeholders. we and moving JetBlue on profitability clarity on with outlook priority strengths energized return all forward, to our and are the determination. turbocharge resolve our for we forward our business With incredibly deliver path and execute

take Thank you. And questions. with will that, your we

Operator

first Instructions] question Dan from Seaport McKenzie [Operator take with We our will Global.

Daniel McKenzie

is challenges, the billion the looking like is the a penciling profitability each it versus question looks quarters? year, JetBlue trying can to what's not the of & to initiatives, really realistic -- the so profitability. simply in medium $X the I'm first forecast. Setting the likely JetForward seasonally just ahead goal in Or for is breakeven that XXXX term plus sense periods? quarter a just for is in just guess sit? So punch this most Joanna. I'm line get you to looking it from get get given I of summer where in Pratt from fourth to Whitney you're aside softer in in to But aspirational the here

Joanna Geraghty

question. Sure. Thanks, Dan. appreciate I the

headline, year planning XXXX so to commit that to thrilling deliver it's operating That to kind We've build said, traditionally year just early, competitive this our as obviously trying teens cycle very planning the for profitability Pratt of assumes focused margin next will a of high that's next full season with the for to to trying how things provided guidance a and as year. haven't so on there backdrop, XXXX. macro mid- possible. kicked sort year. but the but of We get for This much maybe on plan are get to So earlier that. & we to thinking actually we're a soon are off breakeven about we focused a for that Whitney goal

Daniel McKenzie

Understood. Yes.

temporary And the here given to Pratt the is impediments I'm just share you year-to-date the asking structural XX targets. to aircraft to is month, from trying financial the earnings loss parked or & Okay. each is Whitney story the to impediment issue out getting the what the And separate challenges? then I'm back can there versus reason the --

Joanna Geraghty

a great it's Yes, question.

made the of & break so I more some think Pratt the say Whitney yesterday. frustrating RTX going item. maybe it's not even So specifically by I we're can out incredibly to announcements

flying that nature more the focused we're resolve whether trying have for for that over experiencing. challenging AOG cycle is as entering all are the we next that JetBlue, ultimately in as what longer. are & the with will we few try forecast We is reflects Pratt Whitney the why through years, should think, much XXXX. transitory I issue But a keeping AOG aircraft the damages will but far. impactful steps mitigate of to This It's we the communicating be been that to that stage years, of necessary exactly to a the that's not to situation on impact impact we're targets out mid- high teens. Pratt, any possible the are taking, to hence which older count outer

the X.X will taken off AOG positive these because have engines a and our aircraft years. we're on doing of deferrals, some within the a And frankly, count year, that are impact come

And good particularly of that's not use so capital. a

it ultimately it for is a us next several but transitory with issue, years. So will be the

Operator

take our Bank. Deutsche with from question Linenberg Mike We'll next

Michael Linenberg

ASM a question on single Ursula. talked made RASM you Mint have that heard XX% growth. you about -- low think I comment I the about being -- digits and Marty Marty, up for I then

sensitive question would probably you that? price of New who's So York. carry to is, amount the decent I that you'd corporate indicating context out think from within driving of of And pivot that asking that sort corporate. I'm the a of going you're away do

with So the can you square that Mint? seeing right with success you're now that

Martin St. George

Sure, Mike. Thanks for the question.

customers. will to the There's mean, continue I -- what from first carry we walking corporate pivoting no corporate, would corporate we said from of say, all, yes, I Here's market. away away we're we when

better describe in at some you we of did. what way travel if far it's slower very New recovery it think of And really York. corporate the we've with consistent network some in corporate I once designing is I routes like think look the New as pulled, seen changes the we're for made we've as we not the a to York, of

excuse the With with Mint to -- the respect me, respect results. to

the airlines, not I some lot of legacy cabin a the is debate. not across both on by U.S. think look offered This Atlantic transcon. flight or think market to it the that's is premium high-end the airplanes we it's up say market. European -- in I customers, the best for clear leisure the I on cabin think like carrier exactly And that our carry may it's of transcon product and

So in we've a and of leisure attracted have too. we have York of absolutely customers, And a especially lot lot high-end business yes, customers. New we

So for think responding to and to certain are I a product it. extent, speaks how customers itself, the that's

Michael Linenberg

like year, what's just next a CapEx. I'm question about little it's -- How next should Is at the we knowing for Ursula, Absolutely. $X this the new fleet it's billion, CapEx back-end with And look -- loaded. on the it decade. the $X.X cash the deferrals just that number flow just come The does looking just it right later be airplanes the back of a cash billion are year the where that plan, fact sense it up. to that think how similar free in trying lower? and for bit number? a PDPs could movement the get that a Is it where numbers year?

Ursula Hurley

Thanks for question, the Mike.

got billion. and $X.X our we've XX CapEx So deliveries this is year,

take only year, aircraft. XX we actually Next

CapEx should hundred you directionally, a expect be year-over-year. million to few lower So total

Operator

from question We'll with next take Baker our JPMorgan. Jamie

Jamie Baker

international a Fair it suggests you enough. How trying against least fair we making it the if at Just to be European tie intend retreat? won't ambitions incremental the from wonder to major fleet to here be transatlantic minimum, a any Would At into you your Europe. deferral square push do ambitions? changes? your order

Joanna Geraghty

Baker. Thanks, great a It's question. it's a Jamie. Thanks, Jimmy -- great

couldn't I Sorry, help.

you think this as transatlantic nicely summer. it's done think should So I of

seasonality markets the what to with will that important network. how for best the our part does Obviously, deferrals it by program. to We're impact that We loyalty pleased means a, in It's the for contributions what it further of but think, does I an to no retreat. continue reflect to optimize profitable the further, the market, XLR routes ensure transatlantic the driving as it's of geography. business. seasonally have learning on JetBlue those that It's a and are earnings an growth and

Jamie Baker

a Alaska. bunny reference any for over and Marty, asked to question or back And take echoes Joanna. this I'll Excellent. I slopes, then to

approximate to, collect being the space, prior been relative quarters? digits, And RASM up compare does space a inflection? premium noticeable Blue that I more or second, there even double Has guess, thanks to One, you Blue more even I on in cited plus, X advance? You parts. what's guess, how

Martin St. George

thanks. Jamie,

trend find So Customers a very medium-term more first in they are responded this and performance value as has thing, been space. it, much to for far the RASM continue the it. of to as even

we I of talked sort incremental. we growth, the measure The noting the fare. the about that core think really RASM as worth it's the buy over up

a don't it we sell an we as sell As cabin, reminder, the add-on.

incremental revenue is the basically So the from upsell. RASM the

it's that the core. -- So of of look revenue decoupled from little we a sort sort at bit

versus far that that I it's fundamentally the still of value way mean, product the as we change may an way the -- the sell who more. value we're JetBlue as future. are for that's and frankly, are the core, wanted much have. are finding now, But the it's as dramatically -- as customers far get sell far now, as and And we still it to of product the there upgrade little customers value as more offering in of as proposition And in we add-on, buying are it, new what as who I very bit just seeing that too. are a the Mint, JetBlue. these to These into current all customers not mean our as

Jamie Baker

total does collected magnitude improve by it But XX%? it Does that improve change Does yield? it order your helpful. Just XX%? be there would of it by

Martin St. George

Actually, I exactly. number don't know that

back So one. ASMs. even we Mint get cabins more XX% and between premium of The that It's to you about XX%. on about total cabins

want, back into on almost sort do it, I back it later, now if get the front. you you of and can you to but numbers So the we'll phone, could

Jamie Baker

see I'll floor no. to no, others. No, the

Operator

Syth Savi our next take question We'll with Raymond James. from

Savanthi Syth

that is trend cost, realize is have capacity we on in also what about lot should a the flat, issues cost I the just How timing type some XXXX here? declining. of expect And of given and the exit think we there rate but is capacity initiatives here high, should you kind but unit of

Ursula Hurley

Thanks, question. for Yes. the Savi,

have were to not target with plan Clearly, we that. year, targeting a hopefully mid- aspirations if number. highlighted mid-single-digit flattish today better on when unit digits historically, we're pre-COVID, we to even that together single we put is which conceptually, the XXXX a you call, growing than cost high next were growth. again So growing And a would JetForward, we

Savanthi Syth

that it That's just business business that were still the question. change helpful. same on that that, you you of terms curious do following I saw XX% less I ballpark for business in historically? given Or expect network is what customer? Ursula. with changes, around that the was today, to network And appreciate up it seeing. retaining that than you account demand you're And revenue of

Martin St. George

I'll Thanks if is Marty. is one. this we're for I'd you up, question. take so corporate I look the contracted business very revenue, one say, will single Savi, high customer report the The still that digits. at number

with I'd last over continues doing grow. it at that retreat So the say the X we quarters And frankly, to been LaGuardia. have

those because markets us those. of higher flew was we much that a obviously, business think I are a bit surprise pleasant for share when

continues. think trend I the So

and respect enough, I pretty business just I'll strong it of great say it if to even at Boston some out of to business was the It a was -- I look instead routes, one it's Minneapolis, speak. XX%, a Minneapolis, With not forward, so like more of you route, pick still because XX% was corporate, was more going was corporate. example corporate, XX% it guess though but corporate would even

X,XXX flights dramatically now. it's going is it I move where day, that from a So number far to think don't as as

Operator

from Pfennigwerth Duane question Evercore take our next We'll with ISI.

Duane Pfennigwerth

about realize here, this little constraints increasing half On New to it Coast and XXXX, York long focus you talk market? your the just would in network then East can take a that? to like East loss-making you your see year. focus, benefits those start could Coast some XXXX bit bucket expect cutting why how given routes of you benefits seems that with you increase And to of the second very timeline in It the the

guess, why more So I dropping those quickly? benefits aren't

Joanna Geraghty

So maybe I'll to throw and it it I'll take Marty.

these earnings are which shows you some what the that So laid when to I closing. in think out these are the of back announced we presentation, when have we've And markets of look exactly at versus effective.

date. I large call in where that the the this announcements a effective I think So there's confusion was on think October. with And confused of last some closed get the

that rate versus And announced year see so think timing the place. we've understanding a year matter so it's I all of And of far. this next the when run full announcements the actually markets of we'll takes for just

Martin St. George

being not routes take impact is do add it crew own the make The only Yes. closing some At have goal for lightly. of as our move we're especially opportunities markets in airplanes I'd the our core, as we difficult members, to profitability the about which these for of advantage leisure thing our quickly and it on best us has and as to take airline decisions is -- closing moved right the focus is we excited And can. we very to the Coast. as frankly, to with on East where away,

I seen Islip [ think obviously, places opening into up report been we've like growth opening Manchester. ], but the up in a about focus, has Bradley, always growth Providence, growth Boston, which

But best laps choice the as transformation. moves. see right I And not do optimistic establishing very think are to back benefits. very, starting we network the yes, our that's taking they of about as more in for as now But victory in ourselves so far I'm leisure as even that you'll I chart any out. think customers. deck, see we are these this roll we're the

month, just of Some last the of rest they and happened year. the them continue

Duane Pfennigwerth

for about just then addressing And convert, are you follow-up thinking my on the how that.

willingness and let it options, but current you your are how next I alluded think to that financing you of basically go about in thinking addressing year? to kind early

Ursula Hurley

Yes.

of the is asset of So healthy base billion. tune to Duane. About question, our the program. to loyalty that unencumbered attributed $XX thanks We half obviously a have for

go So we're to the the all-in and and convert constructive markets cost of the currently in most see terms We current. funding. and effective let do intend all of most assessing not to

So in I markets. prepared across looking we're remarks, opportunistically mentioned my

Operator

Conor with Cunningham Melius We'll from take next our question Research.

Conor Cunningham

discussion a just and you a that current and not the just now? right -- demand Marty, this even view core happening overcapacity mentioned in environment core Mint There's demand cabin kind highlights I'm of stuff that the more, ton of and on but in the that's strength quarter now. all problem. been you really around I curious about was weakness how the right

Martin St. George

the Conor, thanks question. for

in tier clearly versus to changed carry we spectrum We've we of has a is the view little year cabins the the in understand bigger it's are over XXXX chunk saw world Well our a And a go big changed, have we carry. versus last there has market of this in ASMs a respect bit market so got ton $X. core lot customers buying we And premium we spectrum is have my premium who a products. a or and luckily, cabins XXX% everything But a of customers in up customers price the cabin, about out ULCC of with a customers pre-COVID. what talked And of the in research and of a about half and to our the to were We've all, of customer. higher we trying of me, why how of airplane. coach done sensitive, the spectrum or to that Blue to of First question save they spectrum fly is products. will who we've lot the every fare carry. wide

to trough than I respect second if bit the up expected. a overall, say With that say look demand held I'd better little in environment the I'd specifically we at quarter, general,

peak the performed think expected. I as

as own we owners all will profitable. other we changes move seen supply. our has far supply get to changes think, happened. where the more we I be we eventually equilibrium. made actually have as and demand We've call, level, We've the It which the at bit called far what's as own water seeks as earnings supply as the its happening have back have misaligned demand was. is time, has I with little in I And a said ultimately, gotten where with and real think where news all out to last And ultimately, in industry. goal the supply, we

So comes ultimately, when in to things it out that. end the work

Conor Cunningham

issue curious, was that just powder -- problem a you powder that. consumption the appreciate I new? that mentioned? for that already by something the Or is someone out over somewhat new a overshadowed it is been that metal that's was while. there just and Is GTF that oil of more. the out little could I was comment flesh I it And problem. you the metal bit hoping issue mentioned outside then Okay.

Joanna Geraghty

maintenance Yes, I'll new. I trigger it. cycles, Sure. mean, take engines that. certain obviously, It's these things have nothing various Yes, inspection thanks.

caused So ultimately the while challenges throughput. with what metal powder is significant

issues because maintenance There are backed a working So new we're what other up. everything a it's engine. number that of that's through

chain. shop incredibly will say with just the that capacity the situation so exacerbates And and frustrating. I then supply

lot but believe a deferrals, we I why is working with that's a And impact frustrating are to that reflects definitely take Pratt the year, of think on back We near-term settlement because going makes to but because JetBlue, new to new the our reaching offsets of extent it it in the a also situation. then to ground brand X wants capital aircraft, nobody sense not and X.X commitments the it after years. just a defer aircraft the it XXX

Operator

with from Wolfe Group Scott We'll take our Research. next question

Scott Group

one want a I a then ask and to one. longer-term near-term

that have low there? quarter single-digit have year, Or sort then you like inflection the on around September already just thoughts is RASM RASM sorry, in the and are other like of a you this that cadence on throughout I'm of the talked airlines them. dependent front, So thoughts -- like QX, is of QX, so initial guys about? So if on sort any increase

Martin St. George

not yes, I'm the thanks fully listened for the question. carriers. I Scott, And commentary sure to saying. from understand other I what they're

of as more at they forward I mean, frankly, we quarter much view not exist flying pivot no Our customers, towards of the leisure. frankly, books seeing more and books, during more I bit there's and as going be self-help of investors, XX% trough. prepared not little X/X my lot the basically a the as be respectful that going we'll September. our September. And ASM again, was in the mean, And as and flying is crew down third in on I the as think members remarks in to more productive there. in mentioned we're X/X in We've of right I We're a but looking today. trends we got seen of that undertook inflection real now. on

is So on solely no it's been, is say forecast. based would it have I'd September our my view but than -- self-help. in There's inflection better

Scott Group

longer-term Day, then a a one. the move And of at maybe capacity I'll sort Analyst Okay. ask

Is capacity So got but now some this as better, GTF flat thoughts planning out So cash 'XX, the have understand does 'XX deferring there? thought Do than free to are any positive we on I inflect ultimately, do issue 'XX? you've you And at free cash? you like it gets likely outlook this flow, capacity But then multiyear more any like is planes. guys next mean point, plan? right? in the 'XX, on year, this that

Joanna Geraghty

Yes. then flow. touch free can Maybe on on and cash Ursula I'll capacity touch

XXXX. The So we've there, self-help volatile. many a out we not we're Whitney with given next & taking we're capacity all And that. can on measures And with Pratt offset GTF them as try there any guiding to projections We're working capacity obviously, improvements past to kind that in gone position forecasting. capacity out as issue hopeful capacity beyond of share is year. but or impact, for to flat variables that to any we of are the are and we're guide not

the you point, grab want that? On flow free Ursula, to cash

Ursula Hurley

to believe Yes. delivering help is to Priority with profitability. like do and $XXX the that the today, profitability on then has sheet. execute cash And will to groundwork #X there. does #X will go and free cash Listen, I and layer to the But in the $XXX we balance execute assumptions. EBIT. priority free business us million back flow. deferral getting Scott, been we flow obviously, announced the lay to delevering positive that ultimately, got get million macro We've consistent start that the then cash it flow to backdrop got to free you've

Operator

next We'll Barclays. Oglenski Brandon take question with our from

Brandon Oglenski

route and you if I judge network since of have I when trough here to reconfiguration as hard done to but you appears pulling is because come -- it, hear you look unseasonably you changes, at know I on guess back and XQ capacity down stated, June. though, maybe And guys I are even guess post-pandemic. it guys, But guide, to I announced you Marty, weak RASM September. a I in lot you seasonality for want the

with softness is you're in changes been your incremental that implemented? these guess, I markets it already So even seeing have

Martin St. George

guide. It's soft for do look the wrong thanks this a it's at as in We oh, I it the quarter. not like, look at question. Brandon, something funny. don't as third

what guide bookings. we right in on the think now we're seeing I based

control we then from we second what to deliver or I I you want capacity. control control third the where at day. a on obviously, sequentially, of pricing. can been we quarter past we We feel historically. less to want more And we've great control our track We our delivering think we're like experience -- quarter, look if to every members crew and sort

but a as happy are of looking at always a very So we my obviously, lot want that which this we're think with. positive fundamentally our I view are year-over-year, competitors we is we're mean, more, guide not. I

I'm we're forward surprised perspective, putting And is I just so the I many network the from path following. heads again, that with and to that these want the backloaded. changes we moving my frankly, in do somewhat mean, our -- look we're at of -- are back slide question. stress the I'm I of take just down deck, if with you

attribute it not third the too longer quarter of would like because from big than inflection the network takes that. I to the RASM So much just in changes

Brandon Oglenski

a I comp year. do you it's that Okay. it we're last I it's get but a I think points I easy as have year-on-year maybe of mean, because point pretty guess few a clarification, quarter-to-quarter. observing. Marty, what that's And down from up sequentially

Martin St. George

you. Okay. Thank

Brandon Oglenski

year, we outlook coming bigger been I an off XXXX million. to you. only structural maybe what $XXX Joanna, picture cost question revenue maybe on million We to that's even initiatives improvement, much Day. the industry to I able looking on this and then Joanna, us so to Scott's Investor appreciate the have improvement, fine. and offset the EBIT since just on -- they've $XXX guess And just headwinds the don't backwards have guess of But macro,

a this better basis expect give do add how Is $XXX to baseline, to you the a see can investors it? $XXX where million that like should think you like idea Or long-term? then and from? to breakeven about the of million So us improvement

Joanna Geraghty

Yes.

in It's those to trends. basis and to $XXX a it million would I it. $XXX about So breakeven think million add

year were you done look elevated this cycling the demand this think did of at in challenging industry particularly offset then we against we've some a Much challenges. region. against pent-up first I half, year COVID what Latin capacity, when what we those and of

beyond think, this think numbers those delivering to network so have everybody the seating, And the targets, some of that out to deferral really so longer-term loved to in teams I would position with path to not as focused to adjustments, significant forward, the executed the changes we're of given Basic, $XXX just contributing Blue to aircraft, that's that. on going a far, million execute proud Pratt year. XXXX, do is to the we've $XXX I and whether nice while going with the we But about preferred what at the got all, momentum next into million, X over year But next years. uncertainty

Operator

our next We'll question with America. Bank from Didora take of Andrew

Andrew Didora

questions airlines my we've growing speaking But a heard Most as their about already premium I kind have of seats guess domestic well. Marty. for been lot other of answered. of conceptually one

it that? of kind stay you do about the think So seeing? there's this from some of growth has do RASM do certainly JetBlue more coming does capacity competed all? think here. How premium gets away industry been How that away How at you you --

Martin St. George

the We revenues, obviously, buy there we've funny. are what time market with I at in for of our who overall. this thanks track a think this Is to results are better are a a fare. customers premium to up is the We've to save move bump. the It's are -- where -- a on early teens. of persistent market, other as customers frankly, think looking big back and Andrew, teens question. We -- And we're the a a something have willing that's we're of attributing as sort people we've buying I spent seeing they'll got seen anything flash we've longer-term go do this far for just experience. got to the $X who change more of seeing what up. post-COVID to a chunk since and back more like segmentation a And who in pan. that the can a sort And lot this of customers early

who this get a more what JetBlue model And that pay lot this company structured much a more. is customers business been little are to frankly, is to so around always has the excites about me willing

positioned perspective, that I of think we versus this be better for from competitors. couldn't So some our

Operator

next take with question Cowen. Tom from our We'll Fitzgerald TD

Thomas Fitzgerald

And now. for just I X.X those for would then years quick one EXXXs you a Just a the the cadence of defining year? you've operating for AXXXs, the talk on think about me. retirements next What's been little bit

So deliveries, just things obviously, mean, curious asset? you're that. but how liking I the like the you're keeping any [indiscernible] problems,

Martin St. George

XXXX, XXX, respect Tom, retired With the are XXX it's said the Thanks Marty. end by now. for on very the XXXs, they publicly respect we're to that's of that the cadence question. be will right With that happy we customer. think the I to a we and

which reliability others heard industry issues, some in and we've had we the We from have same. the share

XXX the as not does much XXXneo is nearly as engines, the GTF it family being affected is. have Although

customers. we are to respect So with very happy XXX,

Ursula Hurley

XX. and Tom, put on next XX retired the year. your be year And only with the some will those EXXXs role. to this I point, end to just to fleet. And Marty's end of maybe XX will in numbers by we it, XXXX congrats have And currently that believe

Operator

We'll with Trent Stephen take next question from Citi. our

Stephen Trent

to the you incentives to but airport authority mentioned you I you hear Juan of have us tell in and fees kind the you big and in was that able terms in volumes any of -- some discounts give guys build Rico. guys San airport overcapacity, Are on Puerto about thing? Latin the whether out intrigued maybe

Joanna Geraghty

take I'll Yes, that.

a network, Important work our really otherwise, may members the or get there. carrier tremendous locally from largest incentives our going gotten crew government may or from not around the airport the we any, support or Rico, I'm So have flight crew part to of and Puerto if I with into We're proud authority, what, of authority. not and a to be community. the long that down for for We're the continue have pilots the but open partnership of base think in airport as and well we Rico Puerto from in community, the choice that airport to excited authority. with in area carrier

Stephen Trent

one housekeeping Okay. I that. more just And appreciate and I very question. understand, definitely quick

it guide thinking ASM Looking consider already are Or I down in low wrong September implication heard ASMs way? that the in XX%. Is about sort thought the say unreasonable am the ASMs XQ teens? at your somewhere year And full XQ. of I I Marty to down

Ursula Hurley

No.

Martin St. George

No, don't down. have no, the no. They're exact not I numbers.

Ursula Hurley

They're down. not down Mid-single low digits teens.

Stephen Trent

that I make It looks was to not like helpful. correctly. Very wanted about thinking sure. I

Ursula Hurley

No problem.

Operator

Stathoulopoulos And from we'll take International Chris from question Group. our Susquehanna final

Christopher Stathoulopoulos

Marty here here, for there congrats is just to Blue realize I and so come The here, evident, and on Joanna, we of or say is urgency that wholesale fare team, the as not the change? At in given this So I EBIT And don't here initiatives. should more and but heard and high and around new to vacation about relative are map any a packages dots you're products. the holding clearly introduction this that plan. level, $XXX want more think Ursula, initiatives there Day rebranding then million a I other focus example, more additive you a an also, Investor on think I to or class. discuss

Joanna Geraghty

take can I that. great. It's

product important to to and part of in have new not enhancements we things offering level like cover you're an remains products number very a one gaps blue of loyalty our JetForward the management driver initiatives. illustrative things. reflect deepening some are of build assume customers. do referring a seating, but be They million I Basic initiatives. of in plan everything clear, that and in which say we Travel system business be Blue the dots continued around will I'd Products, greater $XXX the for majority on even actually and which to our perks program specific offerings which new the consists revenue are to which our creating of they a the only. and So JetBlue stickiness to significant from leisure think the in a of And already what of we've announced preferred with

Ursula Hurley

Chris, through would yet initiatives will the But hear year. million you the announced. that includes we $XXX as more I we just that reiterate, haven't And progress

Christopher Stathoulopoulos

Right.

and the And of year-to-date, think overlap in the some thank year-end? you've those on here -- in we And route we want that exits that those outlined so second for about so you. appendix, competitive my the done slides, done Are you've the to example, Okay. quartiles first or on account were based point, should routes. your do if we if RASM, on RASM we majority year-end the at for your analysis, to rank order this at expect second year, that to based and for next routes of early as

meaning XX%, So perhaps XX%. or to X/X closer

you back on to focus your we talked profitability about longer core no that Form Marty, wanted should data? standards, getting talked that see the ultimately your as about, how XX accepting of meet out routes to you sort shake Just understand,

Joanna Geraghty

it I'll I'll Maybe one, and higher Yes. a Marty level to throw for the bit take detail. more

the terms expect we're the a may more part? do network say actually that some history. second So that ever changes as want is, come, this we've the end of most level not of kind made of demand to ones to our reflects where much need I'd large to the we number, ongoing. you whether possible. we're modest ever At think in of you're with should have make profitability done. We you in network Marty, day, the announcements, network take but sure driving done I as don't and

Martin St. George

now to compare what Yes. is And the also -- far as And to we RASM of lot there's network opportunities upside I force that we planning. right we science a have as the the growth ranked what see be. producers Chris. entire and Thanks, obviously mean as are. in my network view then the the

laid out that the of good East I is, lot having network, we of think opportunities news world. the leisure best Coast a have we've growth the as in pillar

fundamentally is East bread very to a at coming butter new big not we're the City back that in Coast we're into territory a and focused I or think building busting Kansas talking looking I like that. about good the and mean, that markets of hub what's something we're on.

perspective, we of from growth. really that opportunities lot see good a So for

math same think time, we did the we -- At the last night. I

had that. months fleet number canceled Some over like on in been or something XX of an XXX, airplanes X X XXX, the redeployed active and last

lot it's same the of change So at a time.

in back in You that last page, have deck. you'll that noticed the page and see again the of

on Joanna's We very It that. the a at are in gone back Again, ones that change have that point, to the to in have have out, the things bottom deliberate of majority we very, that of it the go phased absolutely, is but see like ranking I ever force the roots think mostly ends. happened, never changes The don't upside of based away. things it's slot But portfolio, process. seasonality, sort yes. important

Operator

for turn over I'll to back or any the remarks. closing you. Thank call Koosh Patel additional

Koosh Patel

second great have us, our call. day. concludes That quarter a Thanks conference for joining XXXX and

Operator

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

disconnect may time. at any You

JetBlue Airways (JBLU) 30 Jul 242024 Q2 Earnings call transcript