JetBlue Airways (B6, New York JFK) and Airbus have entered into an amended delivery schedule deferring forty-four A321-200Ns initially due from 2025 to 2029, to 2030 and beyond, the US carrier announced in its 2024 second quarter financial results.
Following this deferral, JetBlue’s firm aircraft orders remain as follows:
the remainder of 2024: twelve A220-300s, one A321neo;
2025: twenty A220-300s, four A321neo;
2026: twenty A220-300s;
2027: five A220-300s;
2028: seven A220-300s;
2029 onwards: four A220-300s and forty-four A321neo.
Additionally, JetBlue has the option to purchase twenty A220-300s between 2027 and 2028.
Chief Executive Officer Joanna Geraghty said during an investor call that restoring the company’s balance sheet is critical to securing its future and returning to profitable growth.
“We simply cannot continue to invest in capital-intensive assets that must be financed upon delivery and that are subsequently unable to produce a return because they have to be parked due to required maintenance and lengthy wait times. With that in mind, we’ve come to an agreement with Airbus to defer forty-four A321neo aircraft, which are the fleet most impacted by the Pratt & Whitney GTF engine issues. This will reduce our upcoming capital expenditures by USD3 billion, helping us to improve our free cash flow outlook and restore our balance sheet health,” she said.
The carrier’s fleet currently comprises 308 aircraft, including thirty-four A220-300s, 130 A320-200s, sixty-three A321-200s, twenty-five A321-200NX, eleven A321-200NX(LR), and forty-five E190s.
In the first half of 2024, JetBlue reported a net loss of USD691 million. The carrier added that it is still working with Pratt & Whitney to secure compensation for 2024 and that the engines' removal's full impact and potential remediation steps remain uncertain.
CH Aviation
Photo: Duncan Stewart
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