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jetBlue JetBlue Announces Third Quarter 2021 Results Oct 26 , 2021 NEW YORK -- ( BUSINESS WIRE ) -- JetBlue Airways Corporation ( NASDAQ : JBLU ) today reported its results for the third quarter of 2021 : • Reported GAAP diluted earnings per share of $ 0.40 in the third quarter of 2021 compared to diluted earnings per share of $ 0.63 in the third quarter of 2019. Adjusted loss per share was ( $ 0.12 ) ( 1 ) in the third quarter of 2021 versus adjusted diluted earnings per share of $ 0.59 ( 1 ) in the third quarter of 2019 . • GAAP pre - tax earnings of $ 190 million in the third quarter of 2021 , compared to a pre - tax income of $ 254 million in the third quarter of 2019. Excluding one - time items , adjusted pre - tax loss of ( $ 50 ) million ( 1 ) in the third quarter of 2021 versus adjusted pre - tax income of $ 239 million ( 1 ) in the third quarter of 2019 . Operational and Financial Highlights from the Third Quarter • Capacity declined by 0.8 % year over two , in - line with our planning assumption of a 1 % decline , year over two . • Revenue declined 5.5 % year over two , which is better than our planning assumption of a 6 % to 9 % decline year over two . This was mainly the result of continued outperformance of our Fare Options initiative , as well as an uptick in demand as we closed out the quarter . • Operating expenses per available seat mile decreased 2.1 % year over two . Operating expenses per available seat mile , excluding fuel and special items ( 1 ) ( CASM ex - fuel ) increased 12.7 % ( 1 ) , year over two , which is in - line with our planning assumption of an 11 % to 13 % increase year over two . • Adjusted Earnings Before Interest , Taxes , Depreciation , Amortization and Special Items ( Adjusted EBITDA ) in the third quarter of 2021 was $ 140 million ( 1 ) , better than our planning assumption range of $ 75 to $ 125 million . Balance Sheet and Liquidity • As of September 30 , 2021 , JetBlue's adjusted debt to capital was 53 % ( 1 ) ⚫ JetBlue ended the third quarter of 2021 with approximately $ 3.3 billion in unrestricted cash , cash equivalents , and short - term investments , or 41 % of 2019 revenue . This excludes our $ 550 million undrawn revolving credit facility . • JetBlue repaid $ 74 million in regularly scheduled debt and finance lease obligations , and prepaid the $ 115M CARES Act loan and $ 105M of bank loans . Fuel Expense and Hedging • The realized fuel price in the third quarter 2021 was $ 2.08 per gallon , a 1.2 % increase versus third quarter 2019 realized fuel price of $ 2.06 . • As of October 26 , 2021 , JetBlue has not entered into forward fuel derivative contracts to hedge its fuel consumption for the third quarter of 2021. Based on the forward curve as of October 15 , 2021 , JetBlue expects an average all - in price per gallon of fuel of $ 2.49 in the fourth quarter of 2021 . Accelerating ESG Efforts and Doubling Down On Commitments • At JetBlue , we firmly believe that robust ESG oversight generates value for shareholders . We've been transparently reporting on key ESG topics since 2007 , with annual ESG reports aligned to SASB and TCFD reporting frameworks since 2017 . • JetBlue continues to lead the industry in ESG governance , as the first U.S. airline to tie executive compensation to ESG metrics , execute a sustainability- linked loan , and operate an ESG Subcommittee of our Board of Directors . • Enabled by our recent deals with SG Preston , Neste , World Energy , and World Fuel Services , we are well ahead of pace to achieve our target of 10 percent SAF usage by 2030 . • Launched two new programs , Gateway College and Jet Ops to Support Pathway Program , aimed at investing in our crewmembers and provide better access to careers as pilots , in technical ops and support centers . • We updated our uniform policy to be more inclusive , including changes to gendered uniforms , size options and hair - style policy . • Following a devastating earthquake in Haiti , we transported over 14,000 pounds of supplies and over 150 volunteers from around our operation to support relief efforts . • We distributed over 10,000 books to our communities through our JetBlue For Good program Soar with Reading . • We logged over 6,400 hours of volunteering service during the third quarter . The Northeast Alliance Supercharges Competition and Delivers Broader Benefits • The Northeast Alliance has supercharged competition in the Northeast by providing more choices and better service for customers . • Together with American , JetBlue launched 58 new routes out of the Northeast , added frequencies on more than 130 routes , and plans to expand to 18 new international destinations . • The Northeast Alliance is estimated to generate more than $ 800 million in consumer benefits annually . JetBlue plans to hire 1,800 new crewmembers for the NEA - jobs that otherwise would not be created without this alliance . Our Recovery Plan and Actions Taken to Position JetBlue for Future Success " As we work through our annual planning process , our teams are setting solid goals for our network , commercial and cost initiatives , and capital allocation