JetBlue Airways has reported its results for the second quarter of 2021: The airline reported GAAP diluted earnings per share of US$0.20 in the second quarter of 2021 compared to diluted earnings per share of US$0.59 in the second quarter of 2019. Adjusted loss per share was US$0.65 in the second quarter of 2021 versus adjusted diluted earnings per share of US$0.60 in the second quarter of 2019.
JetBlue reported GAAP pre-tax earnings of US$57 million in the second quarter of 2021, compared to a pre-tax income of US$236 million in the second quarter of 2019. Excluding one-time items, adjusted pre-tax loss of US$309 million in the second quarter of 2021 versus adjusted pre-tax income of US$238 million in the second quarter of 2019.
During the quarter, JetBlue significantly reduced net debt by US$1.2 billion to US$0.9 billion, which is now below pre-pandemic levels. As of June 30, 2021, JetBlue’s adjusted debt to capital was 55%. JetBlue ended the second quarter of 2021 with approximately US$3.7 billion in unrestricted cash, cash equivalents, and short-term investments, or 46% of 2019 revenue.
JetBlue repaid US$89 million in regularly scheduled debt and finance lease obligations and fully repaid a term loan of US$722 million during the second quarter of 2021.
