Skift Take

JetBlue reported a $716 million loss on Tuesday as it recalibrates its strategy as a standalone carrier following the termination of its merger with Spirit Airlines.

Meghna Maharishi

As the airline industry enjoys an enduring surge in demand for premium and international travel, JetBlue is taking a hit. 

The carrier reported a $716 million loss on Tuesday and expected revenue in the second-quarter to drop by as much as 10.5%. Full-year revenue is expected to be down by single digits. 

The loss was partly caused by the hefty fees JetBlue had to pay to terminate its merger with Spirit Airlines. The break-up fees cost JetBlue $530 million during the first three months of 2024, according to Ursula Hurley, the carrier’s chief financial officer. 

JetBlue CEO Joanna Geraghty said the airline has now officially moved past the merger and is now fully focused on ret