JetBlue Airways (NASDAQ:JBLU) reported its first-quarter 2026 financial results on Tuesday, April 28, 2026, showcasing resilient revenue generation despite a contraction in system capacity.
The New York-based carrier posted operating revenue of $2.2 billion, a 4.7% increase compared to the first quarter of 2025.
The airline’s top-line performance was bolstered by a 6.5% year-over-year increase in operating revenue per available seat mile (RASM), landing at the better end of the company’s revised guidance.
This improvement came even as JetBlue strategically decreased system capacity by 1.7% to optimize its network and manage ongoing fleet constraints.
However, the quarter was marked by significant cost pressures.
Operating expense per available seat mile (CASM) rose 8.3% year-over-year.
When excluding fuel and special items, CASM ex-Fuel increased by 6.6%, a figure heavily impacted by approximately four percentage points of pressure stemming from operational disruptions.
Additionally, the average fuel price surged to $2.96 per gallon, a 15.2% jump from the prior year.
Capital expenditures for the quarter totaled $141 million, coming in below the company’s revised guidance of approximately $175 million.