In a ‘Year Like No Other,” JetBlue Posts $1.4 Billion Annual Loss

By Jesse Sokolow on 28 January 2021
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JetBlue Airways announced fourth quarter results for calendar year 2020.

The airline recorded a $1.4 billion loss for the year, compared to profit of $569 million for 2019.

The New York-based carrier posted a $381 million loss in the quarter, compared to a profit of $161 million in the same period in 2019.

“2020 was a year like no other, as the COVID-19 pandemic challenged our industry in ways we have never seen before,” said the airline’s CEO, Robin Hayes.

The airline cited “geographic challenges” relative to the coronavirus in the Northeast and California as a main obstacle to seeing significant short-term improvement in revenue.

JetBlue reported a 67% drop in revenue in the fourth quarter.

Meanwhile, the airline said it’s reduced its cash burn, which in Q4 was $6.7 million per day, and is starting to improve its margins.  Its 2021 operating plan calls for reducing operating costs by $1.2 billion compared to 2019.

(Photo: Accura Media Group)

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