JetBlue reported a GAAP loss per share of ($0.78) for Q1 2021, with revenue declining 61% compared to 2019 due to the impact of COVID-19. However, the decline was on the lower end of prior expectations, driven by sustained momentum in leisure travel bookings. The company reduced capacity by 41% and operating expenses by 43% year over two.
GAAP loss per share of ($0.78) in the first quarter of 2021, versus diluted earnings per share of $0.14 in the first quarter of 2019.
First quarter 2021 revenue declined 61% year over two as a result of the impact of COVID-19.
Reduced first quarter 2021 capacity by 41% year over two.
Adjusted EBITDA in the first quarter of 2021 was ($458) million.
For the second quarter of 2021, JetBlue expects revenue to decline between 30% and 35% year over two and capacity to decline approximately 15% year over two. They estimate EBITDA will range between ($100) and ($200) million and believe they will reach breakeven on an EBITDA basis in the third quarter.
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