jetBlue Results Presentation Deck

TAKING ACTIONS TO PROTECT OUR STAKEHOLDERS ● ● ● ● ● 1Q 2020 BALANCE SHEET $1.8B of liquidity at 1Q close (¹); added net ~$1.3B in April for a total of $3.1B or 38% of 2019 revenue Estimate cash burn of below $10M/day (2) in May, down from -$18M/day (2) average in the second half of March Adjusted Debt to EBITDAR equal to 2.9x(1) (3); Adjusted Debt to Cap ratio at 44% (1) (3) 2Q 2020 PLANNING ASSUMPTIONS* Expect 2Q 2020 YoY revenue down at least 90% Capacity cuts of at least 80% YoY and a reduction of May OpEx of -50% YoY CAPEX for 2020-2022 now lower by $1.3B vs plan jetBlue 2020 *Current planning assumption as of May 7, 2020; does not constitute guidance ● 1Q 2020 EARNINGS • COVID-19 impact resulted in a GAAP loss per share of 97 cents and non-GAAP loss per share of 42 cents (³) ● 1Q revenue down $283M YoY, a decline mitigated by close-in capacity cuts in March and a $150M reduction in OpEx vs plan OTHER LIQUIDITY ACTIONS CARES Act Payroll Support Program payment received for $936M Evaluating additional capital raises including secured debt and sale leasebacks (1) As of March 31, 2020 (2) Excluding CARES Act Payroll Support Program payment (3) Refer to reconciliations of non-GAAP financial measures in Appendix A 4

View entire presentation