JetBlue Is Still Losing Money, but Investors Are Buying the Turnaround Story

Despite growing concern over JetBlue’s mounting debt, surging jet fuel costs, and a string of losses for six years, the carrier reaffirmed its outlook for 2026 and said it was on a path to turning a profit. The carrier reported a loss of $247 million for the second quarter and revenue of $2.7 billion. JetBlue is expecting to report an operating margin ranging between negative 2% and negative 5% for the year. But due to strong travel demand and initiatives such as domestic first class, JetBlue set a long-term target of $1 in earnings per share by 2028, under the assumption that fuel stays at around $3 a gallon. JetBlue paid an average of $4.23 a gallon for fuel in the second quarter and recaptured 50% of its fuel costs. JetBlue’s shares were up 13% as of Tuesday afternoon. JetBlue CEO Joann