jetBlue Investor Conference Presentation Deck
COVID-19 ADDING SIGNIFICANT UNCERTAINTY TO 1Q, 2020 OUTLOOK
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1Q 2020 UPDATE
Solid 1Q trends through mid/late-February
Mild winter in northeast was driving higher than expected
completion factor
RASM was trending to mid-point of initial guidance range of
0 to 3%, even with higher completion factor
CASM ex-Fuel and fuel trends also better than plan
COVID-19 having a material impact on 1Q 2020 RASM*
As of February 25, 1Q was booked at 87% of revenue
forecast; 2Q was booked at 22%. Seeing significant
deterioration in forward bookings since late February
jetBlue 2020
Expect a negative impact to 1Q RASM of at least 6 points.
However, trends have worsened through last week and
have not yet stabilized
*As of March 6, 2020 at 4 pm EST
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2020 UPDATE
$2.50 - $3.00 EPS guide excludes COVID-19 Impact
Given the nature of and significant uncertainty surrounding
the duration and impact of COVID-19, JetBlue withdraws
all first quarter and full year 2020 guidance
Taking near term actions
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Adjusted schedules between March and early May, and
evaluating further reductions due to dynamic situation
Deteriorating demand trends may drive additional capacity
reductions
Strong Liquidity and Balance Sheet
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Reducing spending across organization
We believe we have one of the strongest balance sheets
in the industry both in terms of leverage and liquidity levels
Focused on protecting liquidity levelsView entire presentation