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Jun 30, 2020
JetBlue Q2 2020 Earnings Report
JetBlue reported a GAAP loss per share of ($1.18) and total operating revenues of $215 million, a decrease of 89.8% year over year, due to the impact of COVID-19.
Key Takeaways
JetBlue Airways Corporation reported its Q2 2020 results, which were significantly impacted by the COVID-19 pandemic. The company experienced a 90% decline in revenue year over year, but made progress in reducing cash burn and resizing operations. JetBlue is focused on reducing cash burn, rebuilding margins, and repairing the balance sheet to emerge stronger from the crisis.
Second quarter 2020 revenue declined 90% year over year as a result of the impact of COVID-19.
Reduced second quarter 2020 capacity by 85% year over year as a result of aggressive action to mitigate cash burn.
Operating expenses decreased 66% year over year.
JetBlue ended the second quarter with approximately $2.9 billion in unrestricted cash, cash equivalents, and short-term investments.
JetBlue
JetBlue
JetBlue Revenue by Segment
Revenue by Segment
Passenger Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
JetBlue expects average daily cash burn in the third quarter for a range of $7 to $9 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income