NEW YORK – JetBlue (B6) yesterday reported Q4 2020 financial results, which, as expected, were severely impacted by the global pandemic. However, the carrier says the results were better than expected.
The highlights of the report included:
- An adjusted pre-tax loss of (US$581m) in Q4 vs. adjusted pre-tax income of $US221m in Q4 2019 (both excluding one-time items)
- Q4 revenue decline of 67%
- Q4 capacity reduction of 47%
- Q4 operating expense decline of 38%
JetBlue also said the revenue decline was better than expected because of “solid booking trends in October and improving volumes in the back half of December.”