JetBlue Airways Corporation has released its financial results for the fourth quarter of 2024, marking progress amid challenges and highlighting the company's strategic shift under the JetForward initiative. Key details include:

JetBlue achieved a fourth-quarter operating margin of 0.7% and an adjusted margin of 0.8%, alongside $395 million in 2024 revenue initiatives, surpassing its $300 million target. The JetForward program, which contributed $90 million in EBIT in 2024, is on track to deliver $800-$900 million through 2027. The airline showed operational improvements, such as better on-time performance and customer satisfaction, and was ranked sixth in the Wall Street Journal’s 2024 Airline Rankings, up from last place in 2023.

While the quarter ended with a GAAP net loss of $44 million, JetBlue maintained a strong cash position, with $3.9 billion in unrestricted cash and investments. Capacity decreased by 5.1% year-over-year, and revenue dipped 2.1%, but the company showed improvements in CASM and reliability metrics. Looking ahead, JetBlue expects to reach positive operating margins in 2025, driven by cost control, revenue initiatives, and enhancements in customer service, such as the introduction of domestic first-class cabins in 2026.

The earnings call and further details are accessible via JetBlue's investor relations website.