Jetblue Airways (JBLU) TD Cowen 9th Annual Future of the Consumer Conference summary

Strategic partnerships and new initiatives

• Announced Blue Sky Partnership with United, enabling loyalty program reciprocity and system-wide point earning and redemption, including elite status recognition across both networks.

• Interline agreement allows joint flight sales on both airlines’ websites, expanding booking options and loyalty benefits for customers.

• Paisly, formerly JetBlue Travel Products, will now offer non-air ancillary products to United customers, replicating a three-channel sales model.

• Regulatory review for Blue Sky is ongoing, with optimism for approval due to alignment with prior judicial guidance.

• Slot timing swaps at Newark optimize schedules for leisure traffic, benefiting both airlines’ operations.

Financial performance and operational updates

• Paisly’s quarterly EBIT run rate is $20–25 million, with exponential growth and tripled per-customer revenue over the past 3–4 years.

• Non-fuel cost control has been strong, with six consecutive quarters meeting cost guidance and operational performance at industry-leading levels.

• Multiple cost initiatives, including AI-driven operational forecasting and fuel burn reduction, are delivering measurable savings.

• GTF engine issues have improved, reducing grounded aircraft and providing a tailwind; Airbus deliveries remain delayed but are expected to meet annual targets.

• E190 fleet retirement is on track post-summer, expected to yield over 30% unit cost savings.

Growth outlook and technology investments

• Paisly is transitioning to a multi-customer model, with United as the first new partner and more airline partnerships anticipated.

• Incremental United revenue for Paisly expected to begin in 2025, with further growth as additional partners are added.

• Connective technology will monetize digital touchpoints across both airlines, leveraging scale for advertising revenue.

• Annual non-aircraft CapEx of $100–150 million is focused on technology to enhance customer experience and self-service capabilities.

• Continued investment in digital and mobile platforms aims to drive app adoption and improve customer engagement.