JETBLUE AIRWAYS CORP, 10-K filed on 2/12/2024
Annual Report
v3.24.0.1
Cover Page - USD ($)
$ in Billions
 12 Months Ended
Dec. 31, 2023
Jan. 31, 2024
Jun. 30, 2023
Cover [Abstract]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2023    
Current Fiscal Year End Date --12-31    
Document Transition Report false    
Entity File Number 000-49728    
Entity Registrant Name JETBLUE AIRWAYS CORP    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 87-0617894    
Entity Address, Address Line One 27-01 Queens Plaza North    
Entity Address, City or Town Long Island City    
Entity Address, State or Province NY    
Entity Address, Postal Zip Code 11101    
City Area Code 718    
Local Phone Number 286-7900    
Title of 12(b) Security Common Stock, $0.01 par value    
Trading Symbol JBLU    
Security Exchange Name NASDAQ    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction [Flag] false    
Entity Shell Company false    
Entity Public Float     $ 3.0
Entity Common Stock, Shares Outstanding   339,276,988  
Documents Incorporated by Reference
Designated portions of the Registrant's Proxy Statement for its 2024 Annual Meeting of Stockholders, which is to be filed subsequent to the date hereof, are incorporated by reference into Part III of this Annual Report on Form 10-K, or the Report, to the extent described therein.
    
Entity Central Index Key 0001158463    
Document Fiscal Year Focus 2023    
Document Fiscal Period Focus FY    
Amendment Flag false    
v3.24.0.1
Audit Information
 12 Months Ended
Dec. 31, 2023
Auditor Information [Abstract]  
Auditor Name Ernst & Young LLP
Auditor Location New York, New York
Auditor Firm ID 42
v3.24.0.1
Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
CURRENT ASSETS    
Cash and cash equivalents $ 1,166 $ 1,042
Investment securities 401 350
Receivables, less allowance (2023 - $3; 2022 - $4) 336 317
Inventories, less allowance (2023 - $35; 2022 - $29) 109 87
Prepaid expenses and other 148 120
Total current assets 2,160 1,916
PROPERTY AND EQUIPMENT    
Flight equipment 12,796 11,727
Pre-delivery deposits for flight equipment 393 415
Total flight equipment and pre-delivery deposits, gross 13,189 12,142
Less accumulated depreciation 4,021 3,578
Total flight equipment and pre-delivery deposits, net 9,168 8,564
Other property and equipment, gross 1,310 1,314
Less accumulated depreciation 803 731
Total other property and equipment, net 507 583
Total property and equipment, net 9,675 9,147
OPERATING LEASE ASSETS 593 660
OTHER ASSETS    
Investment securities 163 172
Restricted cash 151 146
Intangible assets, net of accumulated amortization (2023 - $518; 2022 - $455) 349 298
Other 762 706
Total other assets 1,425 1,322
TOTAL ASSETS 13,853 13,045
CURRENT LIABILITIES    
Accounts payable 641 532
Air traffic liability 1,463 1,581
Accrued salaries, wages and benefits 591 498
Other accrued liabilities 509 486
Current operating lease liabilities 117 97
Current maturities of long-term debt and finance lease obligations 307 554
Total current liabilities 3,628 3,748
LONG-TERM DEBT AND FINANCE LEASE OBLIGATIONS 4,409 3,093
LONG-TERM OPERATING LEASE LIABILITIES 547 639
DEFERRED TAXES AND OTHER LIABILITIES    
Deferred income taxes 743 770
Air traffic liability - non-current 740 738
Other 449 494
Total deferred taxes and other liabilities 1,932 2,002
COMMITMENTS AND CONTINGENCIES (Notes 10 & 11)
STOCKHOLDERS’ EQUITY    
Preferred stock, $0.01 par value; 25 shares authorized, none issued 0 0
Common stock, $0.01 par value; 900 shares authorized, 499 and 486 shares issued and, 339 and 327 shares outstanding at 2023 and 2022, respectively 5 5
Treasury stock, at cost; 159 shares at 2023 and 2022, respectively (1,999) (1,995)
Additional paid-in capital 3,221 3,129
Retained earnings 2,114 2,424
Accumulated other comprehensive loss (4) 0
Total stockholders’ equity 3,337 3,563
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 13,853 $ 13,045
v3.24.0.1
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Statement of Financial Position [Abstract]    
Allowance for receivables $ 3 $ 4
Allowance for inventories 35 29
Accumulated amortization $ 518 $ 455
Preferred stock, par value (in dollars per share) $ 0.01 $ 0.01
Preferred stock, shares authorized (in shares) 25,000,000 25,000,000
Preferred stock, shares Issued (in shares) 0 0
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 900,000,000 900,000,000
Common stock shares issued (in shares) 499,000,000 486,000,000
Common stock, shares outstanding (in shares) 339,000,000 327,000,000
Treasury stock, shares (in shares) 159,400,000 159,000,000
v3.24.0.1
Consolidated Statements of Operations - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
OPERATING REVENUES      
Total operating revenue $ 9,615 $ 9,158 $ 6,037
OPERATING EXPENSES      
Aircraft fuel and related taxes 2,720 3,105 1,436
Salaries, wages and benefits 3,055 2,747 2,358
Landing fees and other rents 657 544 628
Depreciation and amortization 621 585 540
Aircraft rent 126 114 99
Sales and marketing 316 289 183
Maintenance, materials and repairs 654 591 626
Special items 197 113 (833)
Other operating expenses 1,499 1,368 1,080
Total operating expenses 9,845 9,456 6,117
OPERATING LOSS (230) (298) (80)
OTHER INCOME (EXPENSE)      
Interest expense (210) (166) (192)
Interest income 89 39 17
Gain (loss) on investments, net 9 (9) 47
Other 8 (3) (55)
Total other expense (104) (139) (183)
LOSS BEFORE INCOME TAXES (334) (437) (263)
Income tax benefit 24 75 81
NET LOSS $ (310) $ (362) $ (182)
LOSS PER COMMON SHARE      
Basic (in dollars per share) $ (0.93) $ (1.12) $ (0.57)
Diluted (in dollars per share) $ (0.93) $ (1.12) $ (0.57)
Passenger      
OPERATING REVENUES      
Total operating revenue $ 9,008 $ 8,586 $ 5,609
Other      
OPERATING REVENUES      
Total operating revenue $ 607 $ 572 $ 428
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Consolidated Statement of Comprehensive Loss - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Statement of Comprehensive Income [Abstract]      
NET LOSS $ (310) $ (362) $ (182)
Changes in fair value of available-for-sale investment securities and derivative instruments, net of reclassifications into earnings, net of taxes of $2, $0, and $0 in 2023, 2022, and 2021, respectively (4) 0 0
Total other comprehensive loss (4) 0 0
COMPREHENSIVE LOSS $ (314) $ (362) $ (182)
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Consolidated Statement of Comprehensive Loss (Parentheticals) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Statement of Comprehensive Income [Abstract]      
Other comprehensive income (loss), tax $ 2 $ 0 $ 0
v3.24.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES        
Net loss $ (310) $ (362) $ (182)  
Adjustments to reconcile net loss to net cash provided by operating activities:        
Deferred income taxes (27) (73) (88)  
Depreciation and amortization 621 585 540  
Stock-based compensation 39 30 28  
Special items - fleet transition 0 52 0  
Losses on debt extinguishments 0 0 50  
Unrealized (gains) losses on investments 0 12 (49)  
Changes in certain operating assets and liabilities:        
Increase in receivables (3) (111) (46)  
Decrease in inventories, prepaid and other 67 201 138  
Increase (decrease) in air traffic liability (145) 30 447  
Increase in accounts payable and other accrued liabilities 141 26 806  
Other, net 17 (11) (2)  
Net cash provided by operating activities 400 379 1,642  
CASH FLOWS FROM INVESTING ACTIVITIES        
Capital expenditures (1,128) (767) (907)  
Pre-delivery deposits for flight equipment (78) (156) (88)  
Purchase of held-to-maturity investments (69) (142) (37)  
Proceeds from the maturities of held-to-maturity investments 12 2 0  
Purchase of available-for-sale securities (474) (473) (1,577)  
Proceeds from the sale of available-for-sale securities 489 934 1,910  
Payment for Spirit Airlines acquisition (131) (297) 0  
Other, net 1 (9) (5)  
Net cash used in investing activities (1,378) (908) (704)  
CASH FLOWS FROM FINANCING ACTIVITIES        
Proceeds from issuance of long-term debt 78 0 1,010  
Proceeds from sale-leaseback transactions 1,331 0 0 $ 354
Proceeds from issuance of common stock 53 52 46  
Proceeds from issuance of stock warrants 0 0 14  
Repayment of long-term debt and finance lease obligations (347) (369) (1,892)  
Acquisition of treasury stock (4) (6) (8)  
Other, net (4) (37) 0  
Net cash provided by (used in) financing activities 1,107 (360) (830)  
INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 129 (889) 108  
Cash, cash equivalents and restricted cash at beginning of period 1,188 [1] 2,077 [1] 1,969  
Cash, cash equivalents, and restricted cash at end of period 1,317 [1] 1,188 [1] 2,077 [1] 1,969
SUPPLEMENTAL CASH FLOW INFORMATION        
Cash payments for interest (80) (124) (180)  
Cash proceeds (payments) for income taxes, net 49 45 (3)  
NON-CASH TRANSACTIONS        
Operating lease assets obtained under operating leases 46 31 46  
Cash and cash equivalents 1,166 1,042 2,018  
Restricted cash 151 146 59  
Total cash, cash equivalents and restricted cash $ 1,317 [1] $ 1,188 [1] $ 2,077 [1] $ 1,969
[1]
(1) Reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets:
v3.24.0.1
Consolidated Statements of Stockholders' Equity - USD ($)
shares in Millions, $ in Millions
Total
Common Stock Issued
Treasury Stock
Additional Paid-In Capital
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Beginning balance (in shares) at Dec. 31, 2020   474.0        
Beginning balance at Dec. 31, 2020 $ 3,951 $ 5 $ (1,981) $ 2,959 $ 2,968 $ 0
Beginning balance (in shares) at Dec. 31, 2020     158.0      
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net loss (182)       (182)  
Vesting of restricted stock units (in shares)   1.0        
Vesting of restricted stock units (8)   $ (8)      
Stock compensation expense 28     28    
Stock issued under crewmember stock purchase plan (in shares)   3.0        
Stock issued under Crewmember Stock Purchase Plan 46     46    
Warrants issued under federal support programs 14     14    
Ending balance (in shares) at Dec. 31, 2021   478.0        
Ending balance at Dec. 31, 2021 3,849 $ 5 $ (1,989) 3,047 2,786 0
Ending balance (in shares) at Dec. 31, 2021     158.0      
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net loss (362)       (362)  
Vesting of restricted stock units (in shares)   1.0 1.0      
Vesting of restricted stock units (6)   $ (6)      
Stock compensation expense 30     30    
Stock issued under crewmember stock purchase plan (in shares)   7.0        
Stock issued under Crewmember Stock Purchase Plan $ 52     52    
Ending balance (in shares) at Dec. 31, 2022 327.0 486.0        
Ending balance at Dec. 31, 2022 $ 3,563 $ 5 $ (1,995) 3,129 2,424 0
Ending balance (in shares) at Dec. 31, 2022 159.0   159.0      
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net loss $ (310)       (310)  
Other comprehensive loss (4)         (4)
Vesting of restricted stock units (in shares)   2.0        
Vesting of restricted stock units (4)   $ (4)      
Stock compensation expense 39     39    
Stock issued under crewmember stock purchase plan (in shares)   11.0        
Stock issued under Crewmember Stock Purchase Plan $ 53     53    
Ending balance (in shares) at Dec. 31, 2023 339.0 499.0        
Ending balance at Dec. 31, 2023 $ 3,337 $ 5 $ (1,999) $ 3,221 $ 2,114 $ (4)
Ending balance (in shares) at Dec. 31, 2023 159.4   159.0      
v3.24.0.1
Summary of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2023
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies Summary of Significant Accounting Policies
Basis of Presentation    
JetBlue provides air transportation services across the United States, the Caribbean, Latin America, Canada, and Europe. Our consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”), and include the accounts of JetBlue and our subsidiaries. All majority-owned subsidiaries are consolidated with all intercompany transactions and balances being eliminated.
Unless otherwise noted, all amounts disclosed are stated before consideration of income taxes.
Use of Estimates    
The preparation of our consolidated financial statements and accompanying notes in conformity with GAAP requires us to make certain estimates and assumptions. Actual results could differ from those estimates.
Fair Value    
The Fair Value Measurements and Disclosures Topic of the Financial Accounting Standards Board (the “FASB”) Accounting Standards Codification® (“ASC” or the “Codification”) establishes a framework for measuring fair value and requires enhanced disclosures about fair value measurements. This topic clarifies that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The topic also requires disclosure about how fair value is determined for assets and liabilities and establishes a hierarchy for which these assets and liabilities must be grouped, based on significant levels of inputs. Refer to Note 13 for more information.
Cash and Cash Equivalents    
Our cash and cash equivalents include short-term, highly liquid investments which are readily convertible into cash. These investments include money market securities, commercial paper, and time deposits with maturities of three months or less when purchased.
Restricted Cash    
Restricted cash primarily consists of letters of credit, including a $65 million letter of credit for a 5% ownership in JFK Millennium Partners (“JMP”) as well as estimated workers’ compensation obligations.
Accounts Receivable    
Accounts receivable are carried at cost, which primarily consist of amounts due from credit card companies related to sales of tickets for future travel and amounts due from our co-branded credit card partners. We estimate an allowance for doubtful accounts based on known troubled accounts, if any, and historical experience of losses incurred, as well as current and expected conditions.
Investment Securities     
Investment in Debt Securities     
Investments in debt securities consist of available-for-sale investment securities and held-to-maturity investment securities. When sold, we use a specific identification method to determine the cost of the securities. Refer to Note 13 for an explanation of the fair value hierarchy structure and Note 14 for more information.
Investment in Equity Securities 
Equity method investments. Investments in which we can exercise significant influence are accounted for using the equity method in accordance with ASC Topic 323, Investments - Equity Method and Joint Ventures of the Codification.
Equity investment securities. Our equity investment securities include investments in common stocks of publicly traded companies which are stated at fair value.
Equity investments. Our wholly-owned subsidiary, JetBlue Ventures (“JBV”), has equity investments in emerging
companies which do not have readily determinable fair values and are accounted for using a measurement alternative.
TWA Hotel. We have an approximate 10% ownership interest in the TWA Flight Center Hotel at John F. Kennedy International Airport, and it is also accounted for under the measurement alternative in other assets section of the consolidated balance sheets.
Refer to Note 14 for more information.
Derivative Instruments
Our derivative instruments include fuel hedge contracts, such as jet fuel call options and call option spreads, which are stated at fair value, net of any collateral postings. Derivative instruments are included in other current assets on our consolidated balance sheets. Refer to Note 12 for more information.
Inventories    
Inventories consist of expendable aircraft spare parts and supplies that are stated at average cost, as well as aircraft fuel that is accounted for on a first-in, first-out basis. These items are expensed when used or consumed. An allowance for obsolescence on aircraft spare parts and supplies is provided over the remaining useful life of the related aircraft fleet.
Property and Equipment    
We record property and equipment at cost and depreciate to an estimated residual value on a straight-line basis over the asset's estimated useful life. We capitalize additions, asset modifications which extend the useful life or enhance performance, as well as interest related to pre-delivery deposits used to acquire new aircraft and the construction of our facilities.
Estimated useful lives and residual values for property and equipment are summarized as follows:
Property and Equipment TypeEstimated Useful LifeResidual Value
Aircraft (1)
25 years20 %
Inflight entertainment systems
5-10 years
0 %
Aircraft partsFleet life10 %
Flight equipment leasehold improvementsLower of lease term or economic life0 %
Ground property and equipment
2-10 years
0 %
Leasehold improvements - otherLower of lease term or economic life0 %
Buildings on leased landLease term0 %
(1) The estimated remaining useful life of our Embraer E190 fleet ranges from 0-2 years with an average residual value of 12%. In addition, five Airbus A320 airframe were extended to an estimated useful life of between 26 to 27 years with an average residual value of $1.5 million.
Property under finance leases is initially recorded at an amount equal to the present value of future minimum lease payments which is computed on the basis of our incremental borrowing rate or, when known, the interest rate implicit in the lease. Amortization of property under finance leases is on a straight-line basis over the expected useful life to their estimated residual values and is included in depreciation and amortization expense.
We record impairment losses on long-lived assets used in operations when events and circumstances indicate the assets may be impaired and the undiscounted future cash flows estimated to be generated by the assets are less than the assets’ net book value. If impairment occurs, the loss is measured by comparing the fair value of the asset to its carrying amount.
Software   
We capitalize certain costs related to the acquisition and development of computer software. We amortize these costs using the straight-line method over the estimated useful life of the software, which is generally five years. The net book value of computer software, which is included in intangible assets on our consolidated balance sheets, was $157 million and $123 million as of December 31, 2023 and 2022, respectively. Amortization expense related to computer software was $62 million, $51 million, and $45 million for the years ended December 31, 2023, 2022, and 2021, respectively. As of December 31, 2023, amortization expense related to computer software is expected to be as follows (in millions):
Amortization Expense
2024$57 
202543 
202630 
202721 
20285 
Indefinite-Lived Intangible Assets
Our indefinite-lived intangible assets consist primarily of acquired slots at certain high density airports which results in no amortization of expense. Slots are the rights to take-off or land at a specific airport during a specified time of day and are a means by which airport capacity and congestion can be managed. We evaluate our indefinite-lived intangible assets for impairment on an annual basis, or more frequently as needed when events and circumstances indicate an impairment may exist. Impairment indicators include operating or cash flow losses as well as various market factors to determine if events and circumstances could reasonably have affected the fair value. As of December 31, 2023 and 2022, our indefinite-lived intangible assets, which are included in intangible assets on our consolidated balance sheets, were $139 million. We performed an impairment assessment as of December 31, 2023 and determined our indefinite-lived intangible assets were not impaired.
Passenger Revenue    
Ticket sales and related ancillary fees are initially deferred in air traffic liability. Air traffic liability represents tickets sold but not yet flown, credits which can be used for future travel, and a portion of the liability related to our TrueBlue® loyalty program. The transaction price is allocated to each performance obligation identified in a passenger ticket on a relative standalone basis. Passenger revenue, including certain ancillary fees directly related to passenger tickets, is recognized when transportation is provided. Taxes that we are required to collect from our customers, including foreign and U.S. federal transportation taxes, security taxes, and airport facility charges, are excluded from passenger revenue. Those taxes and fees are recorded as a liability upon collection and are relieved from the liability upon remittance to the applicable governmental agency.
The majority of passenger tickets sold are non-refundable. Non-refundable fares may be canceled prior to the scheduled departure date for a credit for future travel. Refundable fares may be canceled at any time prior to the scheduled departure date. Failure to cancel a refundable fare prior to departure will result in the cancellation of the original ticket and an issuance of a credit for future travel. Passenger credits can be used for future travel up to a year from the date of booking. Passenger breakage revenue from unused tickets and passenger credits will be recognized in proportion to flown revenue based on estimates of expected expiration when the likelihood of the customer exercising his or her remaining rights becomes remote. Breakage revenue consists of tickets that remain unused past the departure date, have continued validity, and are expected to ultimately expire unused, as well as passenger credits that are not expected to be redeemed prior to expiration. JetBlue uses estimates based on historical experience of expired tickets and credits and considers other factors that could impact future expiration patterns of tickets and credits. Tickets which do not have continued validity past the departure date are recognized as revenue after the scheduled departure date has lapsed.
Passenger ticket costs primarily include credit card fees, commissions paid, and global distribution systems booking fees. Costs are allocated entirely to the purchased travel services and are capitalized until recognized when travel services are provided to the customer.
Loyalty Program   
Customers may earn points under our customer loyalty program, TrueBlue®, based on the fare paid and fare product purchased for a flight. Customers can also earn points through business partners such as credit card companies, hotels, car rental companies, and our participating airline partners.
Points Earned From a Ticket Purchase. When a TrueBlue® member travels, we recognize a portion of the fare as revenue and defer in air traffic liability the portion that represents the value of the points net of spoilage, or breakage. The transaction price is allocated to each performance obligation on a relative standalone basis. We determine the relative standalone selling price of TrueBlue® points issued using the redemption value approach. To maximize the use of observable inputs, we utilize the actual ticket value of the tickets purchased with TrueBlue® points. The liability is relieved and passenger revenue is recognized when points are redeemed and free travel is provided.
Points Sold to TrueBlue® Partners. Our most significant contract to sell TrueBlue® points is with our co-branded credit card partner. Co-branded credit card partnerships have the following identified performance obligations: air transportation; use of the JetBlue brand name and access to our frequent flyer customer lists; advertising; and other airline benefits. In determining the relative standalone selling price for co-brand credit card arrangements, JetBlue considered multiple inputs, methods and assumptions, including: discounted cash flows; estimated redemption value, net of fulfillment discount; points expected to be awarded and redeemed; estimated annual spending by cardholders; estimated annual royalty for use of JetBlue's frequent flyer customer lists; and estimated utilization of other airline benefits. Payments are typically due monthly based on the volume of points sold during the period, and the terms of our contracts are generally from one to ten years. The overall consideration received is allocated to each performance obligation based on its relative standalone selling price. The air transportation element is deferred and recognized as passenger revenue when the points are redeemed. The other elements are recognized as other revenue when the performance obligations related to those services are satisfied, which is generally the same period as when consideration is received from the participating company.
Amounts allocated to the air transportation element which are initially deferred include a portion that are expected to be redeemed during the following twelve months (included within air traffic liability), and a portion that are not expected to be redeemed during the following twelve months (included within air traffic liability - non-current). We periodically update this analysis and adjust the split between current and non-current liabilities as appropriate.
Points earned by TrueBlue® members never expire. TrueBlue® members can pool points between small groups of people, branded as Points Pooling™. Breakage is estimated using historical redemption patterns to determine a breakage rate. Breakage rates used to estimate breakage revenue are evaluated annually. Changes to breakage estimates impact revenue recognition prospectively.
Airframe and Engine Maintenance and Repairs   
Regular airframe maintenance for owned and leased flight equipment is expensed as incurred unless covered by a third-party long-term flight hour service agreement. We have separate service agreements in place covering scheduled and unscheduled repairs of certain airframe line replacement unit components as well as engines in our fleet. Certain of these agreements are under a power-by-the-hour agreement, which requires monthly payments at rates based on either the number of operating aircraft cycles or engine flight hours each month in exchange for a predetermined maintenance program. These power-by-the-hour agreements, if they meet certain criteria, transfer risk to the third-party service provider and therefore, are expensed based on actual flight hours or aircraft cycles occurring each period.
Advertising Costs
Advertising costs, which are included in sales and marketing, are expensed as incurred. Advertising expense was $66 million in 2023, $59 million in 2022, and $45 million in 2021.
Share-Based Compensation
We record compensation expense for share-based awards based on the grant date fair value of those awards. Share-based compensation expense includes an estimate for pre-vesting forfeitures and is recognized over the requisite service periods of the awards on a straight-line basis. Refer to Note 7 for more information.
Income Taxes
We account for income taxes utilizing the liability method. Deferred income taxes are recognized for the tax consequences of temporary differences between the tax and financial statement reporting bases of assets and liabilities. A valuation allowance for deferred tax assets is provided unless realization of the asset is judged by us to be more likely than not. Our policy is to recognize interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense. Refer to Note 8 for more information.
Recently Issued Accounting Pronouncements
Accounting Standards Update 2023-09—Income Taxes (Topic 740): Improvements to Income Tax Disclosures (ASU 2023-09)
ASU 2023-09 requires disaggregated information about a reporting entity's effective tax rate reconciliation as well as information on income taxes paid. Income taxes paid (net of refunds received) will be required to be disaggregated by federal, state and foreign jurisdictions. The disaggregation is based on a quantitative threshold of 5% of total income taxes paid, net of refunds received. Income (loss) before income tax benefit (expense) is also required to be disaggregated between domestic and foreign jurisdictions. ASU 2023-09 eliminates the requirement to disclose the cumulative amounts of temporary differences not recognized due to deferred tax liabilities. The standard is effective for fiscal years beginning after December 15, 2024. The standard will be applied prospectively, with the option to apply on a retrospective basis. Early adoption is permitted. We do not intend to early adopt this standard.
Accounting Standards Update 2023-07—Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (ASU 2023-07)
ASU 2023-07 requires a reporting entity to disclose significant segment expense categories and other segment items for each reportable segment on an annual and interim basis. Annual disclosures about a segments income (loss) will be required on an interim basis. The standard is effective for fiscal years beginning after December 15, 2023 and for interim periods within fiscal years beginning after December 31, 2024. The standard will be applied on a retrospective basis. Early adoption is permitted. We do not intend to early adopt this standard.
v3.24.0.1
Revenue Recognition
 12 Months Ended
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
The Company categorizes revenue recognized from contracts with its customers by revenue source as we believe it best depicts the nature, amount, timing, and uncertainty of our revenue and cash flow. The following table provides revenue recognized by revenue source for the years ended December 31, 2023, 2022, and 2021 (in millions):
Twelve Months Ended December 31,
202320222021
Passenger revenue
Passenger travel$8,403 $8,078 $5,304 
Loyalty revenue - air transportation605 508 305 
Other revenue
Loyalty revenue422 391 306 
Other revenue185 181 122 
Total operating revenue$9,615 $9,158 $6,037 
TrueBlue® is our customer loyalty program designed to reward and recognize our customers. TrueBlue® points earned from ticket purchases are recorded as a reduction to Passenger travel within passenger revenue. Amounts presented in Loyalty revenue - air transportation represent the revenue recognized when TrueBlue® points have been redeemed and travel has occurred. Loyalty revenue within other revenue is primarily comprised of the non-air transportation elements of the sales of our TrueBlue® points.
Contract Liabilities
Our contract liabilities primarily consist of ticket sales for which transportation has not yet been provided, unused credits available to customers, and outstanding loyalty points available for redemption (in millions):
December 31, 2023December 31, 2022
Air traffic liability - passenger travel$1,099 $1,291 
Air traffic liability - loyalty program (air transportation)1,072 1,000 
Deferred revenue (1)
487 530 
Total $2,658 $2,821 
(1) Deferred revenue is included within other accrued liabilities and other liabilities on our consolidated balance sheets.
During the years ended December 31, 2023 and 2022, we recognized passenger revenue of $1.2 billion that was included in passenger travel liability at the beginning of the respective periods.
The Company elected the practical expedient that allows entities to not disclose the amount of the remaining transaction price and its expected timing of recognition for passenger tickets if the contract has an original expected duration of one year or less or if certain other conditions are met. We elected to apply this practical expedient to our contract liabilities relating to passenger travel and ancillary services as our tickets or any related passenger credits expire generally one year from the date of issuance.
TrueBlue® points are combined into one homogeneous pool and are not separately identifiable. As such, the revenue is comprised of the points that were part of the air traffic liability balance at the beginning of the period as well as points that were issued during the period.
The table below presents the activity of the current and non-current air traffic liability for our loyalty program, and includes points earned and sold to participating companies for the years ended December 31, 2023 and 2022 (in millions):
Balance at December 31, 2021$891 
TrueBlue® points redeemed passenger
(508)
TrueBlue® points earned and sold
617 
Balance at December 31, 20221,000 
TrueBlue® points redeemed passenger
(605)
TrueBlue® points redeemed other
(24)
TrueBlue® points earned and sold
701 
Balance at December 31, 2023$1,072 
The timing of our TrueBlue® point redemptions can vary; however, the majority of our points are redeemed within approximately three years of the date of issuance.
v3.24.0.1
Long-term Debt, Short-term Borrowings and Finance Lease Obligations
 12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Long-term Debt, Short-term Borrowings and Finance Lease Obligations Long-term Debt, Short-term Borrowings, and Finance Lease Obligations
Long-term debt and finance lease obligations and the related weighted average contractual interest rate at December 31, 2023 and 2022 consisted of the following (in millions):
 December 31, 2023December 31, 2022
Secured Debt
Fixed rate specialty bonds, due through 2036$43 5.0 %$43 4.9 %
Fixed rate enhanced equipment notes:
2019-1 Series AA, due through 2032481 2.8 %510 2.8 %
2019-1 Series A, due through 2028150 3.0 %159 3.0 %
2019-1 Series B, due through 202771 8.1 %83 8.1 %
2020-1 Series A, due through 2032511 4.1 %552 4.1 %
2020-1 Series B, due through 2028118 7.8 %136 7.8 %
Fixed rate enhanced equipment notes, due through 2023— — %61 4.4 %
Fixed rate equipment notes, due through 2028323 4.3 %448 4.2 %
Floating rate equipment notes, due through 2030109 7.4 %56 6.9 %
Aircraft sale-leaseback transactions, due through 20351,649 7.0 %341 7.3 %
Finance leases— — %2 6.1 %
Unsecured Debt
Unsecured CARES Act Payroll Support Program loan, due through 2030259 2.0 %259 2.0 %
Unsecured Consolidated Appropriations Act Payroll Support Program Extension loan, due through 2031144 2.0 %144 2.0 %
Unsecured American Rescue Plan Act of 2021 Payroll Support loan, due through 2031132 2.0 %132 2.0 %
0.50% convertible senior notes, due through 2026
750 0.5 %750 0.5 %
Total debt and finance lease obligations$4,740 $3,676 
Less: Debt acquisition cost(24)(29)
Less: Current maturities(307)(554)
Long-term debt and finance lease obligations$4,409 $3,093 
Fixed Rate Specialty Bonds, Due Through 2036
In November 2005, the Greater Orlando Aviation Authority (“GOAA”) issued special purpose airport facilities revenue bonds to JetBlue as reimbursement for certain airport facility construction and other costs. In April 2013, GOAA issued $42 million in special purpose airport facility revenue bonds to refund the bonds issued in 2005. The proceeds from the refunded bonds were loaned to us and we recorded the issuance of $43 million, net of $1 million premium, as long-term debt on our consolidated balance sheets.
Fixed Rate Enhanced Equipment Notes
2019-1 Equipment Notes
In November 2019, we completed a public placement of equipment notes in an aggregate principal amount of $772 million secured by 25 Airbus A321 aircraft. The equipment notes were issued in two series: (i) Series AA, bearing interest at the rate of 2.75% per annum in the aggregate principal amount equal to $589 million, and (ii) Series A, bearing interest at the rate of 2.95% per annum in the aggregate principal amount equal to $183 million. Principal and interest are payable semi-annually.
In August 2020, we completed a public placement of equipment notes in an aggregate principal amount of $115 million bearing interest at a rate of 8.00% per annum. These equipment notes are secured by the 25 Airbus A321 aircraft included in the collateral pool of our 2019-1 Series AA and Series A offerings completed in November 2019. Principal and interest are payable semi-annually.
2020-1 Equipment Notes
In August 2020, we completed a public placement of equipment notes in an aggregate principal amount of $808 million secured by 24 Airbus A321 aircraft. The equipment notes were issued in two series: (i) Series A, bearing interest at the rate of 4.00% per annum in the aggregate principal amount equal to $636 million, and (ii) Series B, bearing interest at the rate of 7.75% per annum in the aggregate principal amount equal to $172 million. Principal and interest are payable semi-annually.
Fixed Rate Enhanced Equipment Notes, Due Through 2023
In March 2014, we completed a private placement of $226 million in pass-through certificates, Series 2013-1. The certificates were issued by a pass-through trust and were not obligations of JetBlue. The proceeds from the issuance of the pass-through certificates were used to purchase equipment notes issued by JetBlue and secured by 14 of our aircraft. These notes matured and the related aircraft became unencumbered between 2021 and 2023. During 2023, the Company made repayments of $61 million, which resulted in the final eight aircraft becoming unencumbered. There are no amounts outstanding under the Series 2013-1 private placement as of December 31, 2023.
Fixed Rate Equipment Notes, Due Through 2028
In 2019, we issued $219 million in fixed rate equipment notes due through 2027, which are secured by 10 Airbus A320 aircraft and two Airbus A321 aircraft. In 2018, we issued $567 million in fixed rate equipment notes due through 2028, which are secured by 14 Airbus A320 aircraft and 10 Airbus A321 aircraft. In 2022, we prepaid approximately $11 million of debt on fixed rate equipment notes, thus five E190 aircraft became unencumbered.
Floating Rate Equipment Notes, Due Through 2030
In 2018, we issued $120 million in floating rate equipment notes due through 2028, which are secured by six Airbus A320 aircraft and one Airbus A321 aircraft.
In April 2023, JetBlue entered into an agreement to finance certain aircraft for an aggregate principal amount of $78 million. Debt incurred under the agreement matures in 2030, with principal and interest payable quarterly in arrears.
Floating rate debt is equal to Secured Overnight Financing Rate (“SOFR”), plus an applicable margin.
Aircraft Sale-Leaseback Transactions, Due Through 2035
In 2020, we executed $563 million of aircraft sale-leaseback transactions. Of these transactions, $354 million did not qualify as sales for accounting purpose. The assets associated with these transactions remain on our consolidated balance sheets within property and equipment and the related liabilities under the lease are classified within debt and finance leases obligations. These transactions are treated as cash from financing activities on our consolidated statements of cash flows. The remaining $209 million of sale-leaseback transactions qualified as sales and generated a loss of $106 million. The assets associated with these transactions which qualified as sales are recorded within operating lease assets. The liabilities are recorded within current operating lease liabilities and long-term operating lease liabilities on our consolidated balance sheets. These transactions are treated as cash from investing activities on our consolidated statements of cash flows.
We did not execute any aircraft sale-leaseback transactions in 2021 or 2022.
In 2023, we executed $1.3 billion of aircraft sale-leaseback transactions; none of these transactions qualified as sales for accounting purposes. The assets associated with these transactions remain on our consolidated balance sheets within property and equipment and the related liabilities under the lease are classified within debt and finance lease obligations. These transactions are treated as cash from financing activities on our consolidated statements of cash flows.
In 2024, we executed $174 million of aircraft sale-leaseback transactions which did not qualify as sales for accounting purposes.
Federal Payroll Support Programs, Due Through 2031
As a result of the adverse economic impact of COVID-19, in 2020 and 2021 we received assistance under various payroll support programs provided by the federal government.
CARES Act – Payroll Support Program
On March 27, 2020, Congress passed the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). Under the CARES Act, assistance was made available to the aviation industry in the form of direct payroll support (the “Payroll Support Program”) and secured loans (the “Loan Program”).
On April 23, 2020, we entered into a Payroll Support Program Agreement (the “PSP Agreement”) under the CARES Act with the United States Department of the Treasury (“Treasury”) governing our participation in the Payroll Support Program. Under the Payroll Support Program, Treasury provided us with a total of approximately $963 million (the “Payroll Support Payments”) consisting of $704 million in grants and $259 million in unsecured term loans. The loans have a 10-year term and bear interest on the principal amount outstanding at an annual rate of 1.00% until April 23, 2025, and the applicable SOFR plus 2.00% thereafter until April 23, 2030. The principal amount may be repaid at any time prior to maturity at par. As part of the agreement, JetBlue issued to Treasury warrants to acquire more than 2.7 million shares of our common stock under the program at an exercise price of $9.50 per share.
Consolidated Appropriations Act – Payroll Support Program 2
On January 15, 2021, we entered into a Payroll Support Program Extension Agreement (the “PSP Extension Agreement”) with Treasury governing our participation in the federal Payroll Support Program for passenger air carriers under the United States Consolidated Appropriations Act, 2021 (the “Payroll Support Program 2”). Treasury provided us with a total of approximately $580 million (the “Payroll Support 2 Payments”) under the program, consisting of $436 million in grants and $144 million in unsecured term loans, with funding received on January 15, 2021, March 5, 2021 and April 29, 2021. The loans have a 10-year term and bear interest on the principal amount outstanding at an annual rate of 1.00% until January 15, 2026, and the applicable SOFR plus 2.00% thereafter until January 15, 2031. In consideration for the Payroll Support 2 Payments, we issued warrants to purchase approximately 1.0 million shares of our common stock to Treasury at an exercise price of $14.43 per share.
American Rescue Plan Act – Payroll Support Program 3
On May 6, 2021, we entered into a Payroll Support 3 Agreement (the “PSP3 Agreement”) with Treasury governing our participation in the federal payroll support program for passenger air carriers under Section 7301 of the American Rescue Plan Act of 2021 (the “Payroll Support Program 3”). Treasury provided us with a total of approximately $541 million (the “Payroll Support 3 Payments”) under the program, consisting of $409 million in grants and $132 million in unsecured term loans. The loans have a 10-year term and bear interest on the principal amount outstanding at an annual rate of 1.00% until May 6, 2026, and the applicable SOFR plus 2.00% thereafter until May 6, 2031. In consideration for the Payroll Support 3 Payments, we issued warrants to purchase approximately 0.7 million shares of our common stock to Treasury at an exercise price of $19.90 per share.
The warrants associated with each of the payroll support programs described above will expire 5 years after issuance and will be exercisable either through net cash settlement or net share settlement, at our option, in whole or in part at any time.
The carrying values relating to the payroll support grants were recorded within other accrued liabilities and were recognized as a contra-expense within special items on our consolidated statements of operations as the funds were utilized. The relative fair value of the warrants were recorded within additional paid-in capital and reduced the total carrying value of the grants. Proceeds from the payroll support grants and from the issuance of payroll support warrants were classified within operating activities and financing activities, respectively, on our consolidated statements of cash flows. Our funding from all payroll support grants were fully utilized as of December 31, 2021.
The carrying values relating to the unsecured payroll support loans were recorded within long-term debt and finance lease obligations on our consolidated balance sheets. The proceeds from the loans were classified as financing activities on our consolidated statement of cash flows.
0.50% Convertible Senior Notes, Due Through 2026
In March 2021, we completed a private offering for $750 million of 0.50% convertible notes due 2026. The notes are general senior unsecured obligations and will rank equal in right of payment with all of our existing and future senior unsecured indebtedness and senior in right of payment to our existing and future subordinated debt. The notes will effectively rank junior in right of payment to any of our existing and future secured indebtedness to the extent of the value of the assets securing such indebtedness and are structurally subordinated to all of our indebtedness and other liabilities. The net proceeds from this offering were approximately $734 million.
Holders of the notes may convert them into shares of our common stock prior to January 1, 2026 only under certain circumstances (such as upon the satisfaction of the sale price condition, the satisfaction of the trading price condition, notice of redemption, or specified corporate events) and thereafter at any time at a rate of 38.5802 shares of common stock per $1,000 principal amount of notes, which corresponds to an initial conversion price of approximately $25.92 per share. The conversion rate is subject to adjustment upon the occurrence of certain specified events, including, but not limited to, the issuance of certain
stock dividends on common stock, the issuance of certain rights or warrants, subdivisions, combinations, distributions of capital stock, indebtedness or assets, cash dividends, and certain issuer tender or exchange offers.
Upon conversion, the notes will be settled in cash up to the aggregate principal amount of the notes to be converted and, at our election, in shares of our common stock, cash or a combination of cash and shares of our common stock in respect of the remainder, if any, of our conversion obligation.
We are not required to redeem or retire the notes periodically. We may, at our option, redeem any of the notes for cash at a redemption price of 100% of their principal amount, plus accrued and unpaid interest at any time on or after April 1, 2024 if the last reported sale price of our common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive), including the trading day immediately preceding the date on which we provide notice of redemption, during any 30 consecutive trading day period ending on, and including, the trading day immediately preceding the date on which we provide a notice of redemption to the holders.
We evaluated the conversion feature of this note offering for embedded derivatives in accordance with ASC 815, Derivatives and Hedging, and the substantial premium model in accordance with ASC 470, Debt. Based on our assessment, separate accounting for the conversion feature of this note offering is not required.
Interest expense recognized in both 2023 and 2022 was $7 million, of which, $3 million was related to the amortization of debt issuance costs.
General Debt Matters
In 2023, we made principal payments of $347 million on our outstanding debt and finance lease obligations.
As of December 31, 2023, we were in compliance with the covenants of our debt and lease agreements.
In 2023, there were no early debt extinguishments. Debt payoffs resulted in immaterial extinguishment expense and a $50 million extinguishment expense in 2022 and 2021, respectively.
Maturities of our debt and finance leases, net of debt acquisition costs, for the next five years are as follows (in millions):
Maturities
2024$301 
2025273 
20261,017 
2027269 
2028374 
Thereafter2,482 
As of December 31, 2023, aircraft, engines, intangible assets, other equipment, and facilities with a net book value of $7.1 billion were pledged as security under various financing arrangements. Cash payments for interest related to debt and finance lease obligations, less interest income cash receipts, were $80 million, $124 million, and $180 million in 2023, 2022, and 2021, respectively.
The carrying amounts and estimated fair values of our long-term debt, net of debt acquisition costs, at December 31, 2023 and 2022 were as follows (in millions):
December 31, 2023December 31, 2022
Carrying Value
Estimated Fair Value (1)
Carrying ValueEstimated Fair Value
Public Debt
Fixed rate special facility bonds, due through 2036$42 $43 $42 $43 
Fixed rate enhanced equipment notes:
2019-1 Series AA, due through 2032476 474 504 345 
2019-1 Series A, due through 2028149 150 157 124 
2019-1 Series B, due through 202770 86 82 87 
2020-1 Series A, due through 2032506 597 546 457 
2020-1 Series B, due through 2028117 150 135 142 
Non-Public Debt
Fixed rate enhanced equipment notes, due through 2023— — 61 60 
Fixed rate equipment notes, due through 2028322 305 447 422 
Floating rate equipment notes, due through 2030109 113 56 49 
Unsecured CARES Act Payroll Support Program loan, due through 2030259 184 259 126 
Aircraft sale-leaseback transactions, due through 20351,648 1,738 341 329 
Unsecured Consolidated Appropriations Act Payroll Support Program Extension loan, due through 2031144 101 144 68 
Unsecured American Rescue Plan Act of 2021 Payroll Support loan, due through 2031132 93 132 62 
0.50% convertible senior notes, due through 2026
742 657 739 534 
Total (2)
$4,716 $4,691 $3,645 $2,848 
(1) The estimated fair values of our publicly held long-term debt are classified as Level 2 in the fair value hierarchy. The fair values of our non-public debt are estimated using a discounted cash flow analysis based on our borrowing rates for instruments with similar terms and therefore classified as Level 3 in the fair value hierarchy. The fair values of our other financial instruments approximate their carrying values. Refer to Note 13 for an explanation of the fair value hierarchy structure.
(2) Total excludes finance lease obligations of $2 million at December 31, 2022, and an immaterial amount at December 31, 2023.
We have financed certain aircraft with Enhanced Equipment Trust Certificates (“EETCs”). One of the benefits of this structure is being able to finance several aircraft at one time, rather than individually. The structure of EETC financing is that we create pass-through trusts in order to issue pass-through certificates. The proceeds from the issuance of these certificates are then used to purchase equipment notes which are issued by us and are secured by our aircraft. These trusts meet the definition of a variable interest entity (“VIE”), as defined in Topic 810 Consolidation of the FASB Codification, and must be considered for consolidation in our financial statements. Our assessment of our EETCs considers both quantitative and qualitative factors including the purpose for which these trusts were established and the nature of the risks in each. The main purpose of the trust structure is to enhance the credit worthiness of our debt obligation through certain bankruptcy protection provisions and liquidity facilities, and also to lower our total borrowing cost. We concluded that we are not the primary beneficiary in these trusts because our involvement in them is limited to principal and interest payments on the related notes, the trusts were not set up to pass along variability created by credit risk to us and the likelihood of our defaulting on the notes. Therefore, we have not consolidated these trusts in our financial statements.
Short-term Borrowings
Morgan Stanley Line of Credit
We have a revolving line of credit with Morgan Stanley for up to approximately $200 million. This line of credit is secured by a portion of our investment securities held by Morgan Stanley and the amount available to us under this line of credit may vary accordingly. This line of credit bears interest at a floating rate based upon LIBOR (or such replacement index as the bank shall determine from time to time in accordance with the terms of the agreement), plus a margin. As of and for the years ended December 31, 2023 and 2022, we did not have a balance outstanding or borrowings under this line of credit.
Citibank Line of Credit
On October 21, 2022, JetBlue entered into the $600 million Second Amended and Restated Credit and Guaranty Agreement (the “Facility”), among JetBlue, Citibank N.A., as administrative agent, and the lenders party thereto. Borrowings under the Facility bear interest at a variable rate based on SOFR, plus a margin of 2.00% per annum, or another rate (at JetBlue's election) based on certain market interest rates, plus a margin of 1.00% per annum, in each case with a floor of 0%. The Facility is secured by spare parts, aircraft, simulators, and certain other assets as permitted thereunder. The Facility includes covenants that require us to maintain certain minimum balances in unrestricted cash, cash equivalents, and unused commitments available under revolving credit facilities. In addition, the covenants restrict our ability to, among other things, dispose of certain collateral, or merge, consolidate, or sell assets. On October 17, 2023, JetBlue further amended the Facility to, among other things, extend the maturity date to October 21, 2025.
As of and for the years ended December 31, 2023 and 2022, we did not have a balance outstanding or any borrowings under the facility.
2022 $3.5 billion Senior Secured Bridge Facility
On May 16, 2022, we, along with our direct wholly-owned subsidiary, Sundown Acquisition Corp., commenced a tender offer to purchase all of the outstanding shares of common stock, par value $0.0001 per share, of Spirit at $30.00 per share, upon the terms and subject to the conditions set forth in the Offer to Purchase and the related Letter of Transmittal (which, together with any amendments or supplements thereto, collectively constitute the “Offer”), which were included as exhibits to the Tender Offer Statement on Schedule TO filed with the SEC on May 16, 2022. In connection with the Offer, on May 23, 2022, we executed a commitment letter with Goldman Sachs Bank USA, Bank of America, N.A. and BofA Securities, Inc. for a senior secured bridge facility in an aggregate principal amount of up to $3.5 billion, which was amended and restated on June 11, 2022 to include other lenders that have committed to the facility (BNP Paribas; Credit Suisse AG, New York Branch; Credit Suisse Loan Funding LLC; Credit Agricole Corporate and Investment Bank; Natixis, New York Branch; Sumitomo Mitsui Banking Corporation; and MUFG Bank, Ltd.). The Offer was terminated concurrently with the entry into the Agreement and Plan of Merger (the “Merger Agreement”) with Spirit.
In connection with the entry into the Merger Agreement, JetBlue entered into a Second Amended and Restated Commitment Letter (the “Commitment Letter”), dated July 28, 2022, with Goldman Sachs Bank USA; BofA Securities, Inc.; Bank of America, N.A.; BNP Paribas; Credit Suisse AG, New York Branch; Credit Suisse Loan Funding LLC; Credit Agricole Corporate and Investment Bank; Natixis, New York Branch; Sumitomo Mitsui Banking Corporation; and MUFG Bank, Ltd. (collectively, the “Commitment Parties”), pursuant to which the Commitment Parties have committed to provide a senior secured bridge facility in an aggregate principal amount of up to $3.5 billion to finance the acquisition of Spirit. As of and for the years ended December 31, 2023, and 2022, we did not have a balance outstanding or any borrowings under this facility and the Commitment Parties' commitments were reduced via mandatory reductions to approximately $3.0 billion. Please refer to Note 18 for additional Merger details.
v3.24.0.1
Leases
 12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Leases Leases
Operating lease assets represent our right to use an underlying asset for the lease term, and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease assets and liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. When available, we use the rate implicit in the lease to discount lease payments to present value. For leases that do not provide a readily determinable implicit rate, we estimate our incremental borrowing rate to discount the lease payments based on information available at lease commencement.
Leases with a term of 12 months or less are not recorded on the balance sheet. Our lease agreements do not contain any residual value guarantees. For facility leases, we account for the lease and non-lease components as a single lease component.
The table below presents the lease-related assets and liabilities recorded on our consolidated balance sheets as of December 31, 2023 and 2022 (in millions):
As of December 31,
20232022
AssetsClassification on Balance Sheet
Operating lease assetsOperating lease assets$593 $660 
Finance lease assetsProperty and equipment, net— 2 
Total lease assets$593 $662 
LiabilitiesClassification on Balance Sheet
Current:
Operating lease liabilitiesCurrent operating lease liabilities$117 $97 
Finance lease liabilitiesCurrent maturities of long-term debt and finance lease obligations— 2 
Long-term:
Operating lease liabilitiesLong-term operating lease liabilities547 639 
Finance lease liabilitiesLong-term debt and finance lease obligations— — 
Total lease liabilities$664 $738 
As of December 31,
20232022
Weighted average remaining lease term (in years)
Operating leases89
Finance leases— 1
Weighted average discount rate
Operating leases7.05 %6.76 %
Finance leases— %6.09 %
Flight Equipment Leases
We operated a fleet of 300 aircraft as of December 31, 2023. Of our fleet, 56 aircraft were accounted for as operating leases and none were accounted for as finance leases. These operating aircraft leases generally have long durations with remaining terms of one month to five years.
Less than half of the aircraft operating leases can be renewed at rates based on fair market value at the end of the lease term for one or two years. We have purchase options for 24 of our aircraft leases at the end of their lease terms. These purchase options are at fair market value and have a one-time option during the term at fixed amounts that were expected to approximate the fair market value at lease inception.
We did not record any impairment losses for the year ending December 31, 2023. We recorded impairment losses of $52 million for the year ended December 31, 2022 relating to our Embraer E190 fleet transition. These losses were attributed to aircraft and related spare parts including the ones under operating leases. Refer to Note 17 for further details.
Facility Leases
Our facility leases are primarily for space at the airports we serve. These leases are classified as operating leases and reflect our use of passenger terminal service facilities consisting of ticket counters, gate space, operations support area, and baggage service offices. We lease space directly or indirectly from the local airport authority on varying terms dependent on prevailing practices at each airport. The remaining terms of our airport leases vary from eight months to 15 years. Our leases at certain airports contain provisions for periodic adjustments of rental rates based on the operating costs of the airports or the frequency of use of the facilities. Some of these leases also include renewal options and/or termination options that are factored into our determination of lease payments when appropriate. Because of the variable nature of the rates, these leases are not recorded as operating lease assets and operating lease liabilities on our consolidated balance sheets.
We also have leases for our corporate offices, training center, and various hangars and airport support facilities at our focus cities.
Other Ground and Property Equipment
We lease certain IT assets, ground support equipment, and various other pieces of equipment. The lease terms of our ground support equipment are less than 12 months. The amount of other equipment we have is not significant.
Lease Costs
The table below presents certain information related to our lease costs during the years ended December 31, 2023, 2022, and 2021 (in millions):
202320222021
Operating lease cost$167 $158 $165 
Short-term lease cost2 1 1 
Finance lease cost:
Interest on lease liabilities— — 1 
Variable lease cost614 500 562 
Sublease income20 20 10 
Total net lease cost$803 $679 $739 
Other Information
The table below presents supplemental cash flow information related to leases during the years ended December 31, 2023, 2022, and 2021 (in millions):
202320222021
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases$168 $154 $160 
Operating cash flows for finance leases— — 3 
Financing cash flows for finance leases2 1 59 
Lease Commitments
The table below presents scheduled future minimum lease payments for operating leases recorded on our consolidated balance sheets, as of December 31, 2023 (in millions):
As of December 31, 2023
Operating Leases
2024$160 
2025115 
202690 
202786 
202873 
Thereafter365 
Total minimum lease payments$889 
Less: amount of lease payment representing interest(225)
Present value of future minimum lease payment$664 
Less: current obligations under leases(117)
Long-term lease obligations$547 
As of December 31, 2023, finance leases were immaterial.
Leases Leases
Operating lease assets represent our right to use an underlying asset for the lease term, and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease assets and liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. When available, we use the rate implicit in the lease to discount lease payments to present value. For leases that do not provide a readily determinable implicit rate, we estimate our incremental borrowing rate to discount the lease payments based on information available at lease commencement.
Leases with a term of 12 months or less are not recorded on the balance sheet. Our lease agreements do not contain any residual value guarantees. For facility leases, we account for the lease and non-lease components as a single lease component.
The table below presents the lease-related assets and liabilities recorded on our consolidated balance sheets as of December 31, 2023 and 2022 (in millions):
As of December 31,
20232022
AssetsClassification on Balance Sheet
Operating lease assetsOperating lease assets$593 $660 
Finance lease assetsProperty and equipment, net— 2 
Total lease assets$593 $662 
LiabilitiesClassification on Balance Sheet
Current:
Operating lease liabilitiesCurrent operating lease liabilities$117 $97 
Finance lease liabilitiesCurrent maturities of long-term debt and finance lease obligations— 2 
Long-term:
Operating lease liabilitiesLong-term operating lease liabilities547 639 
Finance lease liabilitiesLong-term debt and finance lease obligations— — 
Total lease liabilities$664 $738 
As of December 31,
20232022
Weighted average remaining lease term (in years)
Operating leases89
Finance leases— 1
Weighted average discount rate
Operating leases7.05 %6.76 %
Finance leases— %6.09 %
Flight Equipment Leases
We operated a fleet of 300 aircraft as of December 31, 2023. Of our fleet, 56 aircraft were accounted for as operating leases and none were accounted for as finance leases. These operating aircraft leases generally have long durations with remaining terms of one month to five years.
Less than half of the aircraft operating leases can be renewed at rates based on fair market value at the end of the lease term for one or two years. We have purchase options for 24 of our aircraft leases at the end of their lease terms. These purchase options are at fair market value and have a one-time option during the term at fixed amounts that were expected to approximate the fair market value at lease inception.
We did not record any impairment losses for the year ending December 31, 2023. We recorded impairment losses of $52 million for the year ended December 31, 2022 relating to our Embraer E190 fleet transition. These losses were attributed to aircraft and related spare parts including the ones under operating leases. Refer to Note 17 for further details.
Facility Leases
Our facility leases are primarily for space at the airports we serve. These leases are classified as operating leases and reflect our use of passenger terminal service facilities consisting of ticket counters, gate space, operations support area, and baggage service offices. We lease space directly or indirectly from the local airport authority on varying terms dependent on prevailing practices at each airport. The remaining terms of our airport leases vary from eight months to 15 years. Our leases at certain airports contain provisions for periodic adjustments of rental rates based on the operating costs of the airports or the frequency of use of the facilities. Some of these leases also include renewal options and/or termination options that are factored into our determination of lease payments when appropriate. Because of the variable nature of the rates, these leases are not recorded as operating lease assets and operating lease liabilities on our consolidated balance sheets.
We also have leases for our corporate offices, training center, and various hangars and airport support facilities at our focus cities.
Other Ground and Property Equipment
We lease certain IT assets, ground support equipment, and various other pieces of equipment. The lease terms of our ground support equipment are less than 12 months. The amount of other equipment we have is not significant.
Lease Costs
The table below presents certain information related to our lease costs during the years ended December 31, 2023, 2022, and 2021 (in millions):
202320222021
Operating lease cost$167 $158 $165 
Short-term lease cost2 1 1 
Finance lease cost:
Interest on lease liabilities— — 1 
Variable lease cost614 500 562 
Sublease income20 20 10 
Total net lease cost$803 $679 $739 
Other Information
The table below presents supplemental cash flow information related to leases during the years ended December 31, 2023, 2022, and 2021 (in millions):
202320222021
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases$168 $154 $160 
Operating cash flows for finance leases— — 3 
Financing cash flows for finance leases2 1 59 
Lease Commitments
The table below presents scheduled future minimum lease payments for operating leases recorded on our consolidated balance sheets, as of December 31, 2023 (in millions):
As of December 31, 2023
Operating Leases
2024$160 
2025115 
202690 
202786 
202873 
Thereafter365 
Total minimum lease payments$889 
Less: amount of lease payment representing interest(225)
Present value of future minimum lease payment$664 
Less: current obligations under leases(117)
Long-term lease obligations$547 
As of December 31, 2023, finance leases were immaterial.
v3.24.0.1
Stockholders' Equity
 12 Months Ended
Dec. 31, 2023
Stockholders' Equity Note [Abstract]  
Stockholders' Equity Stockholders’ Equity
As of December 31, 2023, we had a total of 6.8 million shares of common stock reserved for issuance. These shares are primarily related to our equity incentive plans. Refer to Note 7 for further details on our share-based compensation.
As of December 31, 2023, we had a total of 159.4 million shares of treasury stock.
We suspended our share repurchase program as of March 31, 2020 and have not restarted the program. The treasury stock reflected on our consolidated statement of cash flows for the year ended December 31, 2023 represents the return of shares to satisfy tax payments associated with crewmember stock compensation that vested during the period.
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Loss Per Share
 12 Months Ended
Dec. 31, 2023
Earnings Per Share [Abstract]  
Loss Per Share Loss Per Share
Basic loss per share is calculated by dividing net loss by the weighted average number of shares outstanding. Diluted loss per share is calculated similarly but includes potential dilution from restricted stock units, the crewmember stock purchase plan, convertible notes, warrants issued under various federal payroll support programs, and any other potentially dilutive instruments using the treasury stock and if converted method. Anti-dilutive common stock equivalents excluded from the computation of diluted loss per share amounts were 2.0 million, 1.8 million, and 3.4 million for the years ended December 31, 2023, 2022, and 2021 respectively.
The following table shows how we computed basic and diluted loss per common share for the years ended December 31 (dollars and share data in millions):
202320222021
Net loss$(310)$(362)$(182)
Weighted average basic shares332.9 323.6 318.0 
Effect of dilutive securities— — — 
Weighted average diluted shares332.9 323.6 318.0 
Loss per common share
Basic $(0.93)$(1.12)$(0.57)
Diluted$(0.93)$(1.12)$(0.57)
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Share-Based Compensation
 12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Share-Based Compensation Share-Based Compensation
We have various equity incentive plans under which we have granted stock awards to our eligible crewmembers and members of our Board of Directors (“Board”). These include the JetBlue Airways Corporation 2011 Incentive Compensation Plan, (“2011 Plan”), and the JetBlue Airways Corporation 2020 Omnibus Equity Incentive Plan, (“2020 Plan”).
The 2011 Plan was replaced by the 2020 Plan in May 2020 and has an immaterial amount of vested deferred stock units outstanding as of December 31, 2023.
Unrecognized stock-based compensation expense was approximately $43 million as of December 31, 2023. This amount relates to a total of 7.8 million in unvested restricted stock units (“RSUs”), performance stock units (“PSUs”), and deferred stock units (“DSUs”) that were outstanding under our 2020 Plan. We expect to recognize this stock-based compensation expense over a weighted average period of approximately 23 months.
The total stock-based compensation expense, which is included within salaries, wages and benefits on our consolidated statements of operations, for the years ended December 31, 2023, 2022, and 2021 was $39 million, $30 million, and $28 million, respectively.
2011 Incentive Compensation Plan
On May 26, 2011, our stockholders approved the JetBlue Airways Corporation 2011 Incentive Compensation Plan. Upon inception, the 2011 Plan had 15 million shares of our common stock reserved for issuance and in 2015 our stockholders approved amendments to issue an additional 7.5 million shares. Under this plan, we granted RSUs to certain crewmembers, DSUs to members of our Board, and PSUs to certain members of our executive leadership team. As of December 31, 2023 all shares related to RSU, PSU, and DSU activity under the 2011 Plan are fully vested.
2020 Omnibus Equity Incentive Plan
On May 14, 2020, our stockholders approved the JetBlue Airways Corporation 2020 Omnibus Equity Incentive Plan. Upon inception, the 2020 Plan had 10.5 million shares of our common stock reserved for issuance. The 2020 Plan, by its terms, will terminate no later than May 2030. Under the 2020 plan, we grant RSUs to certain crewmembers and members of our Board. The vesting periods for the RSUs vary by grant but are no less than one year. We also grant DSUs to members of our Board and PSUs to certain members of our executive leadership team under the 2020 Plan.
The following is a summary of RSU activity under the 2020 Plan for the year ended December 31, 2023 (in millions except per share data):
Shares Weighted Average Grant Date Fair Value
Nonvested at beginning of year3 $13.97 
Granted5 7.48 
Vested(2)14.56 
Forfeited— 10.81 
Nonvested at end of year6 $8.90 
The total intrinsic value, determined as of the date of vesting, for all RSUs under the 2020 Plan that vested during the year ended December 31, 2023 was $8 million.
We have granted a nominal amount of DSUs under the 2020 Plan since its adoption in May 2020. Similar to the 2011 Plan, the vesting period for DSUs under the 2020 Plan is either one or three years of service. Once vested, shares are issued six months and one day following a Director’s departure from the Board. 
In 2021, we granted a nominal amount of PSUs to members of our executive leadership team, payment of which are based upon achievements of certain performance criteria. No PSUs were granted in 2022 and 1.8 million were granted in 2023.
Crewmember Stock Purchase Plans
Additionally, we have a Crewmember Stock Purchase Plan (“CSPP”) that is available to all eligible crewmembers.
In May 2011, our stockholders approved the 2011 Crewmember Stock Purchase Plan (“2011 CSPP”). At inception, the 2011 CSPP had 8 million shares of our common stock reserved for issuance and in 2015 our stockholders approved amendments to increase this amount by 15 million shares.
In May 2020, our stockholders approved the JetBlue Airways Corporation 2020 Crewmember Stock Purchase Plan ("2020 CSPP") to replace the 2011 CSPP which was set to expire in April 2021. At inception, the 2020 CSPP had 17.5 million shares of our common stock reserved for issuance. On May 16, 2023, our stockholders approved an additional 10.0 million shares of common stock, bringing the total authorized shares of common stock reserved for issuance over the term of the 2020 CSPP to 27.5 million shares. The 2020 CSPP, by its terms, will terminate no later than May 2030. The other terms of the 2020 CSPP are substantially identical to those of the 2011 CSPP.
Our CSPPs have a series of six-month offering periods, with a new offering period beginning on the first business day of May and November each year. Crewmembers can enroll in the CSPP nearly year-round, with the exception of specific blackout dates. Crewmembers may contribute up to 10% of their pay towards the purchase of common stock via payroll deductions. Purchase dates occur on the last business day of April and October each year. The purchase price is the closing stock price on the day before the purchase date, less a 15% discount. The compensation cost relating to the discount is recognized over the offering period. The total expense recognized relating to our CSPPs for the years ended December 31, 2023, 2022, and 2021 was approximately $9 million in each year. Under the plans, crewmembers purchased 11.2 million, 6.4 million, and 3.4 million new shares for the years ended December 31, 2023, 2022, and 2021, respectively, at weighted average prices of $4.67, $8.07, and $13.93 per share, respectively.
Under the CSPP, should we be acquired by merger or sale of substantially all of our assets, or by sale of more than 50% of our outstanding voting securities, all outstanding purchase rights will automatically be exercised immediately prior to the effective date of the acquisition at a price equal to 85% of the fair market value per share immediately prior to the acquisition.
Taxation
The Compensation-Stock Compensation topic of the Codification requires deferred taxes be recognized on temporary differences that arise with respect to stock-based compensation attributable to nonqualified stock options and awards. However, no tax benefit is recognized for stock-based compensation attributable to incentive stock options (“ISO”), or CSPP shares until there is a disqualifying disposition, if any, for income tax purposes. A portion of our historical stock-based compensation was attributable to CSPP shares; therefore, our effective tax rate was subject to fluctuation.
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Income Taxes
 12 Months Ended
Dec. 31, 2023
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
Our income tax benefit (expense) consisted of the following for the years ended December 31 (in millions):
202320222021
Deferred:
Federal$43 $86 $44 
State6 (13)44 
Foreign(22)— — 
Deferred income tax benefit27 73 88 
Current:
Federal1 3 (3)
State1 — (5)
Foreign(5)(1)1 
Current income tax benefit (expense)(3)2 (7)
Total income tax benefit$24 $75 $81 
On March 27, 2020, the CARES Act was enacted in response to the COVID-19 pandemic. The CARES Act permits net operating loss (“NOL”) carryovers and carrybacks to offset 100% of taxable income for taxable years beginning before 2021. In addition, the CARES Act allows NOLs incurred in 2018, 2019, and 2020 to be carried back to each of the five preceding taxable years to generate a refund of previously paid income taxes. As of December 31, 2023, the Company has filed its Application for Tentative Refund.
Our income tax benefit reconciles to the amount computed below by applying the U.S. federal statutory income tax rate to our loss before income taxes for the years ended December 31 as follows (in millions):
202320222021
Income tax benefit at statutory rate$70 $92 $55 
State income tax, net of federal benefit7 (13)36 
Nondeductible expenses(14)(8)(5)
Foreign rate differential— (4)5 
Valuation allowance(49)2 (4)
Unrecognized tax benefit (expense)— 3 (7)
Research & Development tax credits11 — — 
Other, net(1)3 1 
Total income tax benefit$24 $75 $81 
The components of our deferred tax assets and liabilities as of December 31 are as follows (in millions):
20232022
Deferred tax assets:
Deferred revenue/gains220 271 
Employee benefits95 72 
Foreign tax credit90 78 
Other credits15 4 
Net operating loss carryforward914 709 
Interest expense limitation carryforward50 29 
Operating lease liabilities161 194 
Rent expense18 84 
Transaction costs25 13 
Sec. 174 research activities27 16 
Other16 20 
Total deferred tax assets1,631 1,490 
Valuation allowance(153)(90)
Deferred tax assets, net1,478 1,400 
Deferred tax liabilities:
Property and equipment(2,049)(1,963)
Operating lease assets(143)(173)
Other(29)(34)
Total deferred tax liabilities(2,221)(2,170)
Net deferred tax liability$(743)$(770)
We have a U.S. foreign tax credit carryforward of $90 million which expires from 2024 to 2033.
As of December 31, 2023, we have a total net operating loss (NOLs) carryforwards of $914 million. The federal NOLs of $671 million have an indefinite life. We also have state and foreign NOLs of $132 million and $111 million, respectively from various taxing jurisdictions which, if go unused will start to expire in 2024 through 2044. Our ability to use our NOLs and other carryforwards depends on the amount of taxable income generated in future periods.
In evaluating the realizability of the deferred tax assets, we assess whether it is more likely than not that some portion, or all, of the deferred tax assets, will be realized. We consider, among other things, the generation of future taxable income (including reversals of deferred tax liabilities) during the periods in which the related temporary differences will become deductible. At December 31, 2023, we provided a $153 million valuation allowance to reduce the deferred tax assets to an amount that we consider is more likely than not to be realized. Of the total valuation allowance, $93 million relates to foreign NOL carryforward, $19 million relates to transaction costs, and $41 million relates to U.S. foreign tax credit carryforward that begins to expire in 2024.
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in millions):
202320222021
Unrecognized tax benefits at January 1,$26 $40 $32 
Increases for tax positions taken during the period— 5 2 
Decreases for tax positions taken during the period(5)(6)(1)
Increases for tax positions taken during a prior period5 — 19 
Decreases for tax positions taken during a prior period(1)(13)(12)
Unrecognized tax benefits December 31,$25 $26 $40 
Interest and penalties accrued on unrecognized tax benefits were not significant. If recognized, $8 million of the unrecognized tax benefits as of December 31, 2023 would impact our effective tax rate. We do not expect any significant change in the amount of the unrecognized tax benefits within the next 12 months. As a result of net operating losses and statute of limitations in our major tax jurisdictions, years 2016 through 2020 remain subject to examination by the relevant tax authorities.
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Crewmember Retirement Plan
 12 Months Ended
Dec. 31, 2023
Retirement Benefits [Abstract]  
Crewmember Retirement Plan Crewmember Retirement Plan
We sponsor a retirement savings 401(k) defined contribution plan (“the Plan”), covering all of our crewmembers where we match 100% of our crewmember contributions up to 5% of their eligible wages. The contributions vest after three years and are measured from a crewmember’s hire date. Crewmembers are vested immediately in their voluntary contributions.
Another component of the Plan is a Company discretionary contribution of 5% of eligible non-management crewmember compensation, which we refer to as Retirement Plus. Retirement Plus contributions vest after three years and are measured from the non-management crewmember’s hire date. As of January 2024, the Retirement Plus program ended and all Retirement plus eligible crewmembers, except for Federal Aviation Administration (“FAA”) licensed crewmembers and system controllers, will receive a 5% increase in pay which they have the option to contribute to their 401(k). The system controllers will continue to receive a Company discretionary contribution of 5% of eligible compensation, referred to as Retirement Non-elective Crewmember contributions. The Company's non-elective contribution vests after three years of service.
Certain FAA licensed crewmembers receive an additional contribution of 3% of eligible compensation, which we refer to as Retirement Advantage. As of January 2024, the Retirement Advantage program ended and these licensed Crewmember will receive a Company discretionary contribution of 8% of eligible compensation, referred to as Retirement Non-elective Licensed Crewmembers contributions. The Company’s non-elective contribution vests after three years of service.
Our Pilots receive a non-elective Company contribution of 16% of eligible compensation per the terms of the finalized collective bargaining agreement between JetBlue and the Air Line Pilots Association (“ALPA”), in lieu of the above 401(k) Company matching contribution, Retirement Plus, and Retirement Advantage contributions. The Company's non-elective contribution of eligible Pilot compensation vests after three years of service.
Our non-management Crewmembers are eligible to receive profit sharing, calculated as 10% of adjusted pre-tax income before profit sharing and special items, up to a pre-tax margin of 18%, with the result reduced by Retirement Plus contributions and the equivalent of Retirement Plus contributions for pilots. If our resulting pre-tax margin exceeds 18%, non-management Crewmembers will receive 20% profit sharing on amounts above an 18% pre-tax margin.
Total 401(k) company match, Retirement Plus, Retirement Advantage, Pilot retirement contribution, and profit sharing expensed for the years ended December 31, 2023, 2022, and 2021 were $271 million, $249 million, and $213 million, respectively.
v3.24.0.1
Commitments
 12 Months Ended
Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]  
Commitments Commitments
Flight Equipment Commitments
Our committed expenditures for aircraft and related flight equipment, including estimated amounts for contractual price escalations and pre-delivery deposits, is set forth in the table below (in millions):
Flight Equipment Commitments (1)
YearTotal
2024$1,235 
20251,169 
20261,145 
2027 1,015 
20281,504 
Thereafter1,137 
Total$7,205 
(1) On January 26, 2024, JetBlue and Airbus entered into an amended delivery schedule pursuant to which we agreed to defer 41 aircraft originally scheduled for delivery from 2024 through 2027 to revised delivery dates from 2025 through 2029. The table above and the Flight Equipment Deliveries table below reflect our aircraft purchase commitments after giving effect to this revised delivery schedule.
Our firm aircraft orders include the following aircraft:
Flight Equipment Deliveries (1)
YearAirbus A220 Airbus A321neoTotal
202420 7 27 
202520 5 25 
202620 4 24 
20275 9 14 
Thereafter11 30 41 
Total (2)
76 55 131 
(1) Refer to the Flight Equipment Commitments table above for additional information on the amended Airbus delivery schedule.
(2) In addition, we have options to purchase an additional 20 A220-300 aircraft.
Other Commitments
We utilize several credit card processors to process our ticket sales. Our agreements with these processors do not contain covenants, but do generally allow the processor to withhold cash reserves to protect the processor from potential liability for tickets purchased but not yet used for travel. While we currently do not have any collateral requirements related to our credit card processors, we may be required to issue collateral to our credit card processors, or other key business partners, in the future.
As of December 31, 2023, we had approximately $31 million cash pledged related to our workers' compensation insurance policies and other business partner agreements, which will expire according to the terms of the related policies or agreements.
We have a long-term lease for our primary corporate office in Long Island City until 2039. We have a one-time option to terminate the lease in 2034. At the end of the initial lease term, we have the option to renew the lease for either one renewal term of 10 years, or two renewal terms of five years each. Our lease commitments are $5 million in 2024, $5 million in 2025, $5 million in 2026, and an anticipated lease expenditure of $71 million over the remainder of the term.
In April 2022, we announced an agreement with Aemetis for it to supply us with 125 million gallons of SAF over a ten-year term with a target start date of 2025.
Labor Unions and Non-Unionized Crewmembers
As of December 31, 2023, 51% of our full-time equivalent crewmembers were represented by labor unions. The pilot group, which represents 22% of our full-time equivalent crewmembers, is covered by a collective bargaining agreement that will become amendable in February 2025.
Our pilots are represented by ALPA. Our inflight crewmembers and flight instructors are represented by TWU; our other frontline crewmembers do not have third party representation.
Transport Workers Union of America (“TWU”)
In April 2018, JetBlue inflight crewmembers elected to be represented by TWU. The National Mediation Board (“NMB”) certified the TWU as the representative for JetBlue inflight crewmembers. In December 2021, our inflight crewmembers ratified our first collective bargaining agreement with TWU, which is a five-year, renewable contract effective December 13, 2021. During the fourth quarter of 2021, we recorded a one-time ratification bonus totaling $8 million to be allocated amongst our inflight crewmembers as determined by TWU, which was recorded within special items.
Air Line Pilots Association
In April 2021, ALPA, on behalf of the JetBlue pilot group, filed a grievance relating to the Northeast Alliance (the "NEA"), ALPA claims that by entering the NEA, JetBlue violated certain scope clauses contained in the pilots’ ALPA collective bargaining agreement. As a result of a mediation process, the parties agreed to certain changes to the collective bargaining agreement. The agreement, ratified by the JetBlue pilot group in April 2022, included a one-time payment and associated payroll taxes of $32 million, paid and recorded as an expense within special items, and a 3% base pay increase effective May 1, 2022.
In January 2023, JetBlue pilots approved a two-year contract extension effective March 1, 2023, which included a ratification payment and adjustments to paid-time-off accruals resulting from pay rate increases of $95 million. This was recorded as an expense within special items in 2023. An additional $8 million was recorded within special items in the third quarter of 2023 for paid-time-off accrual adjustments resulting from pay rate increases.
International Association of Machinists and Aerospace Workers
In September 2022, the International Association of Machinists and Aerospace Workers filed for an election to unionize our ground operations crewmembers. In February 2023, our crewmembers voted to maintain our direct relationship rather than to unionize.
Non-Unionized Crewmembers
We enter into individual employment agreements with each of our non-unionized FAA-licensed crewmembers which include dispatchers, technicians, inspectors, and air traffic controllers. Each employment agreement is for a term of five years and automatically renews for an additional five years unless either the crewmember or we elect not to renew it by giving at least 90 days' notice before the end of the relevant term. Pursuant to these agreements, these crewmembers can only be terminated for cause. In the event of a downturn in our business that would require a reduction in work hours, we are obligated to pay these crewmembers a guaranteed level of income and to continue their benefits if they do not obtain other aviation employment
v3.24.0.1
Contingencies
 12 Months Ended
Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]  
Contingencies Contingencies
We self-insure a portion of our losses from claims related to workers’ compensation, environmental issues, property damage, medical insurance for crewmembers, and general liability. Losses are accrued based on an estimate of the ultimate aggregate liability for claims incurred, using standard industry practices and our actual experience.
We are a party to many routine contracts under which we indemnify third parties for various risks. These indemnities consist of the following:
All of our bank loans, including our aircraft mortgages, obligate us to reimburse the bank for any increased costs arising from regulatory changes, including changes in reserve requirements and bank capital requirements; these obligations are standard terms present in loans of this type. These indemnities would increase the interest rate on our debt if they were to be triggered. In all cases, we have the option to repay the loan and avoid the increased costs. These terms match the length of the related loan up to 15 years.
Under both aircraft leases with foreign lessors and aircraft mortgages with foreign lenders, we have agreed to customary indemnities concerning withholding tax law changes. Under these contracts we are responsible, should withholding taxes be imposed, for paying such amount of additional rent or interest as is necessary so that the lessor or lender still receives, after taxes, the rent stipulated in the lease or the interest stipulated under the loan. The term of these indemnities matches the length of the related lease or loan up to 25 years.
We have various leases with respect to real property as well as various agreements among airlines relating to fuel consortia or fuel farms at airports. Under these contracts we have agreed to standard language indemnifying the lessor against environmental liabilities associated with the real property or operations described under the agreement, even if we are not the party responsible for the initial event that caused the environmental damage. In the case of fuel consortia at airports, these indemnities are generally joint and several among the participating airlines. We have purchased a standalone environmental liability insurance policy to help mitigate this exposure. Our existing aviation hull and liability policy includes some limited environmental coverage when a cleanup is part of an associated single identifiable covered loss.
Under certain contracts, we indemnify specified parties against legal liability arising out of actions by other parties. The terms of these contracts range up to 25 years. Generally, we have liability insurance protecting ourselves for the obligations we have undertaken relative to these indemnities.
We are unable to estimate the potential amount of future payments under the foregoing indemnities and agreements.
Under a certain number of our operating lease agreements we are required to restore certain property or equipment to its original form upon expiration of the related agreement. We have recorded the estimated fair value of these retirement obligations of approximately $15 million and $6 million as of December 31, 2023 and 2022, respectively. For leases expiring within one year, the retirement obligation is recorded in other accrued liabilities within current liabilities on the consolidated balance sheets. For leases expiring beyond one year, the retirement obligation is recorded in other within deferred taxes and other liabilities on our consolidated balance sheets.
Legal Matters
Occasionally, we are involved in various claims, lawsuits, regulatory examinations, investigations, and other legal matters involving suppliers, crewmembers, customers, and governmental agencies, arising, for the most part, in the ordinary course of business. The outcome of litigation and other legal matters is always uncertain. The Company believes it has valid defenses to the legal matters currently pending against it, is defending itself vigorously, and has recorded accruals determined in accordance with GAAP, where appropriate. In making a determination regarding accruals, using available information, we evaluate the likelihood of an unfavorable outcome in legal or regulatory proceedings to which we are a party and record a loss contingency when it is probable a liability has been incurred and the amount of the loss can be reasonably estimated. These subjective determinations are based on the status of such legal or regulatory proceedings, the merits of our defenses, and consultation with legal counsel. Actual outcomes of these legal and regulatory proceedings may materially differ from our current estimates. It is possible that resolution of one or more of the legal matters currently pending or threatened could result in losses material to our consolidated results of operations, liquidity, or financial condition.
To date, none of these types of litigation matters, most of which are typically covered by insurance, has had a material impact on our operations or financial condition. We have insured and continue to insure against most of these types of claims. A judgment on any claim not covered by, or in excess of, our insurance coverage could materially adversely affect our consolidated results of operations, liquidity, or financial condition.
In July 2020, JetBlue and American entered into the NEA which was designed to optimize our respective networks at JFK, LaGuardia Airport, Newark Liberty International Airport, and Boston Logan International Airport (the “NEA Airports”). Following review and agreement by the DOT, JetBlue and American began implementing the NEA in July 2021. On September 21, 2021, the United States Department of Justice, along with the Attorneys General of six states and the District of Columbia filed suit against JetBlue and American Airlines seeking to enjoin the NEA, alleging that it violates Section 1 of the Sherman Act. The court issued a decision on May 19, 2023, permanently enjoining the NEA. On July 5, 2023, we announced that we do not plan to appeal the court’s determination that the NEA cannot continue as currently crafted, and instead had initiated a wind
down of the NEA. On July 14, 2023, JetBlue and American Airlines announced that beginning on July 21, 2023, JetBlue customers will no longer be able to book new codeshare bookings on American Airlines and vice versa. On July 28, 2023, the court issued its Final Judgement and Order Entering Permanent Injunction (“Final Injunction”). The Final Injunction, which took effect on August 18, 2023, sets forth, among other things, provisions for the prompt and certain termination of the NEA, including applicable dates for the termination of JetBlue and American Airlines' revenue-sharing arrangements and procedures governing the termination of any remaining slot-sharing agreements. Pursuant to the Final Injunction, JetBlue and American Airlines may not enter into any new alliance, partnership, joint venture, or other agreement with each other, if such agreement provides for revenue sharing, or for coordination of routes or capacity, in a manner substantially similar to the NEA for a period of ten years following the effectiveness of the Final Injunction. On September 25, 2023, American Airlines filed an appeal of the court's ruling. The wind down of the NEA is substantially complete, but remaining impacts could require us to incur additional costs and therefore have an impact on our financial condition and results of operations.
In December 2022 and February 2023, four putative class actions lawsuits were filed in the United States District Court for the Eastern District of New York and the United States District Court for the District of Massachusetts, respectively, alleging that the NEA violates Sections 1 and 2 of the Sherman Act. Among other things, plaintiffs seek monetary damages on behalf of a putative class of direct purchasers of airline tickets from JetBlue and American Airlines and, depending on the specific case, other airlines on flights to or from the NEA Airports from July 16, 2020 through the present. Plaintiffs in these actions also seek to enjoin the NEA. JetBlue believes these lawsuits are without merit and has moved to dismiss the claims.
We are also subject to a number of legal proceedings initiated by individual consumers, the Department of Justice and Attorneys General in six states and the District of Columbia alleging that our pending acquisition of Spirit violates Section 7 of the Clayton Act. For more information, see Note 18.
v3.24.0.1
Financial Derivative Instruments and Risk Management
 12 Months Ended
Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Financial Derivative Instruments and Risk Management Financial Derivative Instruments and Risk Management
As part of our risk management techniques, we periodically purchase over the counter energy derivative instruments to manage our exposure to the effect of changes in the price of aircraft fuel. Prices for the underlying commodities have historically been highly correlated to aircraft fuel, making derivatives of them effective at providing short-term protection against sharp increases in average fuel prices. We do not hold or issue any derivative financial instruments for trading purposes.
Aircraft fuel derivatives
We attempt to obtain cash flow hedge accounting treatment for each fuel derivative that we enter into. This treatment is provided for under the Derivatives and Hedging topic of the FASB Codification which allows for gains and losses on the effective portion of qualifying hedges to be deferred until the underlying planned aircraft fuel consumption occurs, rather than recognizing the gains and losses on these instruments into earnings during each period they are outstanding.
For the effective portion of hedges, when aircraft fuel is consumed and the related derivative contract settles, any gain or loss previously recorded in other comprehensive income (loss) is recognized in aircraft fuel expense. All cash flows related to our fuel hedging derivatives are classified as operating cash flows.
Ineffectiveness occurs, in certain circumstances, when the change in the total fair value of the derivative instrument differs from the change in the value of our expected future cash outlays for the purchase of aircraft fuel. If a hedge does not qualify for hedge accounting, the periodic changes in its fair value are recognized in interest income and other.
Our current approach to fuel hedging is to enter into hedges on a discretionary basis. We view our hedge portfolio as a form of insurance to help mitigate the impact of price volatility and protect us against severe spikes in oil prices, when possible.
The following table illustrates the approximate hedged percentages of our projected fuel usage by quarter related to our outstanding fuel hedging contracts that were designated as cash flow hedges for accounting purposes as of December 31, 2023.
Aircraft fuel call option spread agreements
First Quarter 202430 %
Second Quarter 202416 %
Third Quarter 20243 %
Fourth Quarter 20245 %
The table below reflects quantitative information related to our derivative instruments and where these amounts are recorded in our financial statements (dollar amounts in millions):
Year Ended December 31,
 20232022
Fuel derivatives 
Asset fair value recorded in prepaid expenses and other current assets (1)
$4 $3 
Longest remaining term (months)33
Hedged volume (barrels, in thousands)2,706 450 
Estimated amount of existing gains (losses) expected to be reclassified into earnings in the next 12 months(3)2 
(1) Gross asset or liability of each contract prior to consideration of offsetting positions with each counterparty and prior to impact of collateral paid.
Year Ended December 31,
 202320222021
Fuel derivatives
Hedge effectiveness gains (losses) recognized in aircraft fuel expense
$7 $(7)$— 
Hedge gains (losses) on derivatives recognized in comprehensive income1 (3)— 
Percentage of actual consumption economically hedged25 %7 %— %
Any outstanding derivative instrument exposes us to credit loss in connection with our fuel contracts in the event of nonperformance by the counterparties to our agreements; however, we do not expect that any of our counterparties will fail to meet their obligations. The amount of such credit exposure is generally the fair value of our outstanding contracts for which we are in a receivable position. To manage credit risks we select counterparties based on credit assessments, limit our overall exposure to any single counterparty, and monitor the market position with each counterparty. Some of our agreements require cash deposits from either JetBlue or our counterparty if market risk exposure exceeds a specified threshold amount.
We have master netting arrangements with our counterparties allowing us the right of offset to mitigate credit risk in derivative transactions. The financial derivative instrument agreements we have with our counterparties may require us to fund all, or a portion of, outstanding loss positions related to these contracts prior to their scheduled maturities. The amount of collateral posted, if any, is periodically adjusted based on the fair value of the hedge contracts. Our policy is to offset the liabilities represented by these contracts with any cash collateral paid to the counterparties.
There were no offsetting derivative instruments as of December 31, 2023 and 2022.
v3.24.0.1
Fair Value
 12 Months Ended
Dec. 31, 2023
Fair Value Disclosures [Abstract]  
Fair Value Fair Value
Under Topic 820, Fair Value Measurement of the Codification, disclosures are required about how fair value is determined for assets and liabilities and a hierarchy for which these assets and liabilities must be grouped is established, based on significant levels of inputs as follows:
Level 1 - observable inputs such as unadjusted quoted prices in active markets for identical assets or liabilities;
Level 2 - quoted prices in active markets for similar assets and liabilities, and other inputs that are observable directly or indirectly for the asset or liability; or
Level 3 - unobservable inputs for the asset or liability, such as discounted cash flow models or valuations.
The determination of where assets and liabilities fall within this hierarchy is based upon the lowest level of input that is significant to the fair value measurement.
The following is a listing of our assets required to be measured at fair value on a recurring basis and where they are classified within the fair value hierarchy as of December 31, 2023 and 2022 (in millions):
As of December 31, 2023
Level 1Level 2Level 3Total
Assets
Cash equivalents$724 $— $— $724 
Available-for-sale investment securities— 314 16 330 
Aircraft fuel derivatives— 4 — 4 

As of December 31, 2022
Level 1Level 2Level 3Total
Assets
Cash equivalents$665 $— $— $665 
Available-for-sale investment securities— 324 13 337 
Equity investment securities8 — — 8 
Aircraft fuel derivatives— 3 — 3 
Refer to Note 3 for fair value information related to our outstanding debt obligations as of December 31, 2023 and 2022.
Cash equivalents
Our cash equivalents include money market securities and time deposits which are readily convertible into cash, have maturities of three months or less when purchased, and are considered to be highly liquid and easily tradable. The money market securities are valued using inputs observable in active markets for identical securities and are therefore classified as Level 1 within our fair value hierarchy.
Available-for-sale investment securities
Our available-for-sale investment securities include investments such as time deposits, commercial paper, and convertible debt securities. The fair value of time deposits and commercial paper is based on observable inputs in non-active markets, which are therefore classified as Level 2 in the hierarchy. The fair value of convertible debt securities is based on unobservable inputs and is classified as Level 3 in the hierarchy.
Equity investment securities
Our equity investment securities include investments in common stocks of publicly traded companies. The fair value of these instruments is classified as Level 1 in the hierarchy as it is based on unadjusted quoted prices in active markets for identical assets. We did not have any material equity investment securities as of December 31, 2023.
Our wholly-owned subsidiary, JetBlue Technology Ventures, LLC (“JBV”), has equity investments in emerging companies that do not have readily determinable fair values. In accordance with Topic 321, Investments - Equity Securities of the FASB Codification, we account for these investments using a measurement alternative which allows entities to measure these investments at cost, less any impairment, adjusted for changes from observable price changes in orderly transactions for identifiable or similar investments of the same issuer.
Aircraft fuel derivatives
Our aircraft fuel derivatives include call spread options which are not traded on public exchanges. Their fair values are determined using a market approach based on inputs that are readily available from public markets for commodities and energy trading activities; therefore, they are classified as Level 2 inputs. The data inputs are combined into qualitative models and processes to generate forward curves and volatility related to the specific terms of the underlying hedge contracts.
Held-to-maturity investment securities
Our held-to-maturity investment securities consist of corporate bonds, which are stated at amortized cost. If the corporate bonds were measured at fair value, they would be classified as Level 2 in the fair value hierarchy, based on quoted prices in active markets for similar securities.
We do not intend to sell these investment securities. Those securities that will mature in twelve months or less are included in short-term investments on our consolidated balance sheets. Those securities with remaining maturities greater than twelve months are included in long-term investments on our consolidated balance sheets.
The carrying value and estimated fair value of our held-to-maturity investment securities were as follows (in millions):
December 31, 2023December 31, 2022
Carrying ValueFair ValueCarrying ValueFair Value
Held-to-maturity investment securities$234 $231 $177 $170 
v3.24.0.1
Investments
 12 Months Ended
Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]  
Investments Investments
Investment in Debt Securities    
Investments in debt securities consist of available-for-sale and held-to-maturity investment securities. The carrying amount is recorded within investment securities in the current assets section of our consolidated balance sheets if the remaining maturity is less than twelve months. Maturities greater than twelve months are recorded within investment securities in the other assets section of our consolidated balance sheets. The aggregate carrying values of our short-term and long-term debt investment securities consisted of the following at December 31, 2023 and 2022 (in millions):
December 31, 2023December 31, 2022
Available-for-sale investment securities 
Time deposits$290 $285 
Commercial paper24 39 
Debt securities16 13 
Total available-for-sale securities330 337 
Held-to-maturity investment securities
Corporate bonds234 177 
Total held-to-maturity securities234 177 
Total investment in debt securities$564 $514 
When sold, we use a specific identification method to determine the cost of the securities. Refer to Note 13 for an explanation of the fair value hierarchy structure.
Available-for-sale investment securities. We recognized a net unrealized gain of $1 million and a net unrealized loss of $1 million in accumulated other comprehensive income (loss) on the consolidated balance sheets as of December 31, 2023 and 2022, respectively. We recognized an immaterial net unrealized loss for the same period ended December 31, 2021. We recognized a net realized gain of $1 million in gain (loss) on investment, net on our consolidated statement of operations during the period ending December 31, 2023. We recognized immaterial net realized gain (loss) during the same periods ending December 31, 2022 and 2021.
Held-to-maturity investment securities. We did not record any material gains or losses on these securities during the years ended December 31, 2023, 2022, or 2021.
Investment in Equity Securities 
Equity method investments
Investments in which we can exercise significant influence are accounted for using the equity method in accordance with Topic 323, Investments - Equity Method and Joint Ventures of the Codification. The carrying amount of our equity method investments, which is recorded within other long term assets on our consolidated balance sheets, was $43 million and $38 million as of December 31, 2023 and 2022, respectively. We did not recognize a gain or loss during the year ended December 31, 2023. We recognized a gain of $5 million on one of our equity method investments related to its issuance of additional shares upon the closing of a subsequent financing round in gain (loss) on investment, net on our consolidated statement of operations during the years ending December 31, 2022 and a gain of $2 million for the year ending December 31, 2021. Our share of our equity method investees’ financial results is included in other income on our consolidated statement of operations.
Other Investments
Our equity investment securities include investments in common stocks of publicly traded companies which are stated at fair value. We had an immaterial carrying amount of equity investment securities as of December 31, 2023. The carrying amount of our equity investment securities, which are recorded within investment securities in the current assets section of our consolidated balance sheets, was $8 million as of December 31, 2022. We recognized a net unrealized gain of $2 million, and a net unrealized loss of $12 million, and $10 million in other income on our consolidated statement of operations for the years ending December 31, 2023, 2022, and 2021 respectively. We also recognized a net realized gain of $4 million and $1 million related to the sale of one of our equity investments in gain (loss) on investments for the years ending December 31, 2023 and 2022. We did not recognize any realized gains or losses during the same period ending December 31, 2021.
Our wholly-owned subsidiary, JBV, has equity investments in emerging companies which do not have readily determinable fair values. The carrying amount of these investments, which is included within other assets on our consolidated balance sheets, was $96 million and $83 million as of December 31, 2023 and 2022 respectively. We recognized a net realized gain of $2 million, an impairment loss of $2 million and a net realized gain of $37 million in gain (loss) on investments on the consolidated statement of operations for the years ended December 31, 2023, 2022, and 2021, respectively.
We have an approximate 10% ownership interest in the TWA Flight Center Hotel at JFK, which is accounted for under the measurement alternative in other assets section of the consolidated balance sheets. The carrying amount of this investment was $14 million as of December 31, 2023 and 2022.
v3.24.0.1
Accumulated Other Comprehensive Income (Loss)
 12 Months Ended
Dec. 31, 2023
Equity [Abstract]  
Accumulated Other Comprehensive Income (Loss) Accumulated Other Comprehensive Income (Loss)
Comprehensive income (loss) includes changes in fair value of our aircraft fuel derivatives which qualify for hedge accounting and unrealized gain (loss) on available-for-sale securities. A rollforward of the amounts included in accumulated other comprehensive income (loss), net of taxes for the years ended December 31, 2023, 2022, and 2021 is as follows (in millions):
Aircraft Fuel Derivatives (1)
Available-for-sale securitiesTotal
Balance of accumulated income, at December 31, 2020$— $— $— 
Reclassifications into earnings, net of taxes of $0
— — — 
Change in fair value, net of taxes of $0
— — — 
Balance of accumulated income, at December 31, 2021$— $— $— 
Reclassifications into earnings, net of taxes of $(3)
4 — 4 
Change in fair value, net of taxes of $2
(3)(1)(4)
Balance of accumulated income (loss), at December 31, 2022$1 $(1)$— 
Reclassifications into earnings, net of taxes of $2
(5)(1)(6)
Change in fair value, net of taxes of $0
1 1 2 
Balance of accumulated loss, at December 31, 2023$(3)$(1)$(4)
(1) Reclassified to aircraft fuel expense.
v3.24.0.1
Geographic Information
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Geographic Information Geographic Information
Under the Segment Reporting topic of the Codification, disclosures are required for operating segments that are regularly reviewed by chief operating decision makers. Air transportation services accounted for substantially all of the Company’s operations in 2023, 2022, and 2021.
Operating revenues are allocated to geographic regions, as defined by the Department of Transportation (“DOT”), based upon the origination and destination of each flight segment. As of December 31, 2023, we served 36 locations in the Caribbean and Latin American region, or Latin America as defined by the DOT. We also served three destinations in Europe, or Atlantic as defined by the DOT. We include the three destinations in Puerto Rico and one destination in the U.S. Virgin Islands in our Caribbean and Latin America allocation of revenues. We have reflected these locations within the Caribbean and Latin America region in the table below. Operating revenues by geographic regions for the years ended December 31 are summarized below (in millions):
202320222021
Domestic & Canada$6,072 $6,067 $3,869 
Caribbean & Latin America3,282 2,968 2,150 
Atlantic261 123 18 
Total$9,615 $9,158 $6,037 
Our tangible assets primarily consist of our fleet of aircraft. Except for our transatlantic services to Europe, which are operated by the long range variant of the Airbus A321neo aircraft, our fleet is deployed systemwide, with no individual aircraft dedicated to any specific route or region; therefore, our assets do not require any allocation to a geographic area.
v3.24.0.1
Special Items
 12 Months Ended
Dec. 31, 2023
Unusual or Infrequent Items, or Both [Abstract]  
Special Items Special Items
The following is a listing of special items presented on our consolidated statements of operations (in millions):
Year Ended December 31,
202320222021
Special Items
Union contract costs (1)
$105 $33 $8 
Spirit costs (2)
92 28 — 
Embraer E190 fleet transition (3)
— 52 — 
Federal payroll support grant recognition (4)
— — (830)
CARES Act employee retention credit (5)
— — (11)
Total$197 $113 $(833)
(1) Union contract costs in 2023 and 2022 primarily relate to pilot ratification payments and adjustments to paid-time-off accruals resulting from pay rate increases. Union contract costs in 2021 relate to inflight ratification payments. See Note 10 for further discussion.
(2) Spirit costs primarily relate to consulting, professional and legal fees.
(3) Embraer E190 transition charges relate to fleet impairment losses on certain aircraft and spare parts as well as retirement losses due to engine exchanges as a result of our fleet transition.
(4) As discussed in Note 3, we received assistance in the form of grants and unsecured loans under various federal payroll support programs. Funds under these federal payroll support programs were to be used exclusively for the continuation of payment of crewmember wages, salaries, and benefits. The carrying values of the payroll support grants (after consideration of the warrants we issued) were recorded within other liabilities and were recognized as contra-expenses within special items on our consolidated statements of operations as the funds were utilized. Our payroll support grants were fully utilized as of December 31, 2022.
(5) The Employee Retention Credit (“ERC”) under the CARES Act is a refundable tax credit which encouraged businesses to keep employees on the payroll during the COVID-19 pandemic. Qualified wages are the wages paid to an employee for the time that the employee is not providing services due to an economic hardship, specifically, either (1) a full or partial suspension of operations by order of a governmental authority due to COVID-19, or (2) a significant decline in gross receipts. Our policy is to recognize the ERC when it is filed with the IRS.
v3.24.0.1
Entry into Merger Agreement with Spirit Airlines
 12 Months Ended
Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]  
Entry into Merger Agreement with Spirit Airlines Entry into Merger Agreement with Spirit Airlines
On July 28, 2022, JetBlue entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Spirit Airlines, Inc., a Delaware corporation (“Spirit”), and Sundown Acquisition Corp., a Delaware corporation and a direct wholly owned subsidiary of JetBlue (“Merger Sub”), pursuant to which and subject to the terms and conditions therein, Merger Sub will merge with and into Spirit, with Spirit continuing as the surviving corporation (the “Merger”). On October 19, 2022, Spirit announced that its stockholders approved the Merger Agreement.
On the date of the closing of the Merger (the “Closing Date”), as a result of the Merger, each existing share (“Share”) of Spirit’s common stock, par value $0.0001 per share, will be converted at the effective time of the Merger into the right to receive an amount in cash per Share, without interest, equal to (a) $33.50 minus (b) (i) to the extent paid, an amount in cash equal to $2.50 per Share and (ii) the lesser of (A) $1.15 and (B) the product of (1) $0.10 multiplied by (2) the number of Additional Prepayments (as defined below) paid prior to the Closing Date (such amount in subclause (B), the “Aggregate Additional Prepayment Amount”).
On or prior to the last business day of each calendar month commencing after December 31, 2022, until the earlier of (a) the Closing Date and (b) the termination of the Merger Agreement in accordance with its terms, JetBlue will pay or cause to be paid to the holders of record of outstanding Shares as of a date not more than five business days prior to the last business day of such month, an amount in cash equal to $0.10 per Share (such amount, the “Additional Prepayment Amount,” each such monthly payment, an “Additional Prepayment”). During 2023, JetBlue made an aggregate of $131 million in Additional Prepayments to Spirit shareholders resulting in a total prepayment of $403 million and $25 million in payments to Spirit for the reimbursement of Frontier transaction costs. These payments are included in other assets in the Company's consolidated balance sheets as of December 31, 2023.
The Closing is subject to the satisfaction or waiver of certain closing conditions, including, among other things, the receipt of Spirit stockholder approval, which was obtained on October 19, 2022, the receipt of applicable regulatory approvals, and the absence of any law or order prohibiting the consummation of the transactions.
Spirit, JetBlue, and Merger Sub each make certain customary representations, warranties and covenants, as applicable, in the Merger Agreement, and the Merger Agreement contains certain termination rights for JetBlue and Spirit which, in certain cases, will result in the payment of termination fees by JetBlue or Spirit, as applicable.
Refer to Note 3 for further detail of the $3.5 billion Senior Secured Bridge Facility commitment to fund the purchase of Spirit.
In March 2023, the U.S. Department of Justice, along with the Attorneys General of six states and the District of Columbia, filed suit in the U.S. District Court for the District of Massachusetts against JetBlue and Spirit, seeking a permanent injunction preventing the Merger (the “Government Merger Lawsuit”). The trial commenced on October 31, 2023 and on January 17, 2024, the Court issued its Final Judgment and Order granting the plaintiffs' request for a permanent injunction of the Merger. On January 19, 2024, JetBlue and Spirit filed a Notice of Appeal with respect to the January 17, 2024 Final Judgment and Order and the Court’s corresponding January 16, 2024 Findings of Facts and Conclusion of Law. On February 2, 2024, the Court of Appeals ordered that the appeal shall be fully briefed by April 25, 2024 and will contemplate argument during the court's June sitting.
On November 3, 2022, 25 individual consumers filed suit in the U.S. District Court for the Northern District of California against JetBlue and Spirit seeking to enjoin the Merger, alleging that it violates Section 7 of the Clayton Act (the “Private Merger Lawsuit”). On March 29, 2023, the Private Merger Lawsuit was transferred to the U.S. District Court for the District of Massachusetts. On October 11, 2023, the court partially granted summary judgment in the Private Merger Lawsuit and dismissed all but two of the private plaintiffs for lack of standing. On October 25, 2023, private plaintiffs filed a notice that they intend to appeal that decision. The Private Merger Lawsuit does not yet have a trial date.
An adverse ruling in the Private Merger Lawsuit and/or an unsuccessful appeal of the Government Merger Lawsuit could adversely impact our ability to consummate the Merger or achieve the intended benefits of the Merger and could have an adverse impact on our business, financial condition, and results of operations.
v3.24.0.1
Schedule II - Valuation and Qualifying Accounts
 12 Months Ended
Dec. 31, 2023
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]  
Schedule II - Valuation and Qualifying Accounts
SCHEDULE II—VALUATION AND QUALIFYING ACCOUNTS
(in millions)
Balance at
beginning of
period		Additions Charged to
Costs and
Expenses		Deductions Balance at
end of
period
Year Ended December 31, 2023
Valuation allowance for deferred tax assets$90 $69 $6 $153 
Allowance for obsolete inventory parts29 6 — 35 
Allowance for doubtful accounts4 19 20 
(1)
3 
Total$123 $94 $26 $191 
Year Ended December 31, 2022
Valuation allowance for deferred tax assets$73 $30 $13 $90 
Allowance for obsolete inventory parts24 5 — 29 
Allowance for doubtful accounts3 16 15 
(1)
4 
Total$100 $51 $28 $123 
Year Ended December 31, 2021
Valuation allowance for deferred tax assets$69 $19 $15 $73 
Allowance for obsolete inventory parts27 4 7 24 
Allowance for doubtful accounts2 14 13 
(1)
3 
Total$98 $37 $35 $100 
 
(1)Uncollectible accounts written off, net of recoveries.
v3.24.0.1
Pay vs Performance Disclosure - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Pay vs Performance Disclosure      
Net loss $ (310) $ (362) $ (182)
v3.24.0.1
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2023
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.24.0.1
Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2023
Accounting Policies [Abstract]  
Basis of Presentation
Basis of Presentation    
JetBlue provides air transportation services across the United States, the Caribbean, Latin America, Canada, and Europe. Our consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”), and include the accounts of JetBlue and our subsidiaries. All majority-owned subsidiaries are consolidated with all intercompany transactions and balances being eliminated.
Unless otherwise noted, all amounts disclosed are stated before consideration of income taxes.
Use of Estimates
Use of Estimates    
The preparation of our consolidated financial statements and accompanying notes in conformity with GAAP requires us to make certain estimates and assumptions. Actual results could differ from those estimates.
Fair Value
Fair Value    
The Fair Value Measurements and Disclosures Topic of the Financial Accounting Standards Board (the “FASB”) Accounting Standards Codification® (“ASC” or the “Codification”) establishes a framework for measuring fair value and requires enhanced disclosures about fair value measurements. This topic clarifies that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The topic also requires disclosure about how fair value is determined for assets and liabilities and establishes a hierarchy for which these assets and liabilities must be grouped, based on significant levels of inputs. Refer to Note 13 for more information.
Cash and Cash Equivalents
Cash and Cash Equivalents    
Our cash and cash equivalents include short-term, highly liquid investments which are readily convertible into cash. These investments include money market securities, commercial paper, and time deposits with maturities of three months or less when purchased.
Cash equivalents
Our cash equivalents include money market securities and time deposits which are readily convertible into cash, have maturities of three months or less when purchased, and are considered to be highly liquid and easily tradable. The money market securities are valued using inputs observable in active markets for identical securities and are therefore classified as Level 1 within our fair value hierarchy.
Restricted Cash
Restricted Cash    
Restricted cash primarily consists of letters of credit, including a $65 million letter of credit for a 5% ownership in JFK Millennium Partners (“JMP”) as well as estimated workers’ compensation obligations.
Accounts Receivable
Accounts Receivable    
Accounts receivable are carried at cost, which primarily consist of amounts due from credit card companies related to sales of tickets for future travel and amounts due from our co-branded credit card partners. We estimate an allowance for doubtful accounts based on known troubled accounts, if any, and historical experience of losses incurred, as well as current and expected conditions.
Investment Securities
Investment Securities     
Investment in Debt Securities     
Investments in debt securities consist of available-for-sale investment securities and held-to-maturity investment securities. When sold, we use a specific identification method to determine the cost of the securities. Refer to Note 13 for an explanation of the fair value hierarchy structure and Note 14 for more information.
Investment in Equity Securities 
Equity method investments. Investments in which we can exercise significant influence are accounted for using the equity method in accordance with ASC Topic 323, Investments - Equity Method and Joint Ventures of the Codification.
Equity investment securities. Our equity investment securities include investments in common stocks of publicly traded companies which are stated at fair value.
Equity investments. Our wholly-owned subsidiary, JetBlue Ventures (“JBV”), has equity investments in emerging
companies which do not have readily determinable fair values and are accounted for using a measurement alternative.
TWA Hotel. We have an approximate 10% ownership interest in the TWA Flight Center Hotel at John F. Kennedy International Airport, and it is also accounted for under the measurement alternative in other assets section of the consolidated balance sheets.
Refer to Note 14 for more information.
Available-for-sale investment securities
Our available-for-sale investment securities include investments such as time deposits, commercial paper, and convertible debt securities. The fair value of time deposits and commercial paper is based on observable inputs in non-active markets, which are therefore classified as Level 2 in the hierarchy. The fair value of convertible debt securities is based on unobservable inputs and is classified as Level 3 in the hierarchy.
Equity investment securities
Our equity investment securities include investments in common stocks of publicly traded companies. The fair value of these instruments is classified as Level 1 in the hierarchy as it is based on unadjusted quoted prices in active markets for identical assets. We did not have any material equity investment securities as of December 31, 2023.
Our wholly-owned subsidiary, JetBlue Technology Ventures, LLC (“JBV”), has equity investments in emerging companies that do not have readily determinable fair values. In accordance with Topic 321, Investments - Equity Securities of the FASB Codification, we account for these investments using a measurement alternative which allows entities to measure these investments at cost, less any impairment, adjusted for changes from observable price changes in orderly transactions for identifiable or similar investments of the same issuer.
Aircraft fuel derivatives
Our aircraft fuel derivatives include call spread options which are not traded on public exchanges. Their fair values are determined using a market approach based on inputs that are readily available from public markets for commodities and energy trading activities; therefore, they are classified as Level 2 inputs. The data inputs are combined into qualitative models and processes to generate forward curves and volatility related to the specific terms of the underlying hedge contracts.
Held-to-maturity investment securities
Our held-to-maturity investment securities consist of corporate bonds, which are stated at amortized cost. If the corporate bonds were measured at fair value, they would be classified as Level 2 in the fair value hierarchy, based on quoted prices in active markets for similar securities.
We do not intend to sell these investment securities. Those securities that will mature in twelve months or less are included in short-term investments on our consolidated balance sheets. Those securities with remaining maturities greater than twelve months are included in long-term investments on our consolidated balance sheets.
Investment in Debt Securities    
Investments in debt securities consist of available-for-sale and held-to-maturity investment securities. The carrying amount is recorded within investment securities in the current assets section of our consolidated balance sheets if the remaining maturity is less than twelve months. Maturities greater than twelve months are recorded within investment securities in the other assets section of our consolidated balance sheets
Derivative Instruments
Derivative Instruments
Our derivative instruments include fuel hedge contracts, such as jet fuel call options and call option spreads, which are stated at fair value, net of any collateral postings. Derivative instruments are included in other current assets on our consolidated balance sheets. Refer to Note 12 for more information.
Inventories
Inventories    
Inventories consist of expendable aircraft spare parts and supplies that are stated at average cost, as well as aircraft fuel that is accounted for on a first-in, first-out basis. These items are expensed when used or consumed. An allowance for obsolescence on aircraft spare parts and supplies is provided over the remaining useful life of the related aircraft fleet.
Property and Equipment
Property and Equipment    
We record property and equipment at cost and depreciate to an estimated residual value on a straight-line basis over the asset's estimated useful life. We capitalize additions, asset modifications which extend the useful life or enhance performance, as well as interest related to pre-delivery deposits used to acquire new aircraft and the construction of our facilities.
Estimated useful lives and residual values for property and equipment are summarized as follows:
Property and Equipment TypeEstimated Useful LifeResidual Value
Aircraft (1)
25 years20 %
Inflight entertainment systems
5-10 years
0 %
Aircraft partsFleet life10 %
Flight equipment leasehold improvementsLower of lease term or economic life0 %
Ground property and equipment
2-10 years
0 %
Leasehold improvements - otherLower of lease term or economic life0 %
Buildings on leased landLease term0 %
(1) The estimated remaining useful life of our Embraer E190 fleet ranges from 0-2 years with an average residual value of 12%. In addition, five Airbus A320 airframe were extended to an estimated useful life of between 26 to 27 years with an average residual value of $1.5 million.
Property under finance leases is initially recorded at an amount equal to the present value of future minimum lease payments which is computed on the basis of our incremental borrowing rate or, when known, the interest rate implicit in the lease. Amortization of property under finance leases is on a straight-line basis over the expected useful life to their estimated residual values and is included in depreciation and amortization expense.
We record impairment losses on long-lived assets used in operations when events and circumstances indicate the assets may be impaired and the undiscounted future cash flows estimated to be generated by the assets are less than the assets’ net book value. If impairment occurs, the loss is measured by comparing the fair value of the asset to its carrying amount.
Software
Software   
We capitalize certain costs related to the acquisition and development of computer software. We amortize these costs using the straight-line method over the estimated useful life of the software, which is generally five years.
Indefinite-Lived Intangible Assets
Indefinite-Lived Intangible Assets
Our indefinite-lived intangible assets consist primarily of acquired slots at certain high density airports which results in no amortization of expense. Slots are the rights to take-off or land at a specific airport during a specified time of day and are a means by which airport capacity and congestion can be managed. We evaluate our indefinite-lived intangible assets for impairment on an annual basis, or more frequently as needed when events and circumstances indicate an impairment may exist. Impairment indicators include operating or cash flow losses as well as various market factors to determine if events and circumstances could reasonably have affected the fair value.
Passenger Revenue
Passenger Revenue    
Ticket sales and related ancillary fees are initially deferred in air traffic liability. Air traffic liability represents tickets sold but not yet flown, credits which can be used for future travel, and a portion of the liability related to our TrueBlue® loyalty program. The transaction price is allocated to each performance obligation identified in a passenger ticket on a relative standalone basis. Passenger revenue, including certain ancillary fees directly related to passenger tickets, is recognized when transportation is provided. Taxes that we are required to collect from our customers, including foreign and U.S. federal transportation taxes, security taxes, and airport facility charges, are excluded from passenger revenue. Those taxes and fees are recorded as a liability upon collection and are relieved from the liability upon remittance to the applicable governmental agency.
The majority of passenger tickets sold are non-refundable. Non-refundable fares may be canceled prior to the scheduled departure date for a credit for future travel. Refundable fares may be canceled at any time prior to the scheduled departure date. Failure to cancel a refundable fare prior to departure will result in the cancellation of the original ticket and an issuance of a credit for future travel. Passenger credits can be used for future travel up to a year from the date of booking. Passenger breakage revenue from unused tickets and passenger credits will be recognized in proportion to flown revenue based on estimates of expected expiration when the likelihood of the customer exercising his or her remaining rights becomes remote. Breakage revenue consists of tickets that remain unused past the departure date, have continued validity, and are expected to ultimately expire unused, as well as passenger credits that are not expected to be redeemed prior to expiration. JetBlue uses estimates based on historical experience of expired tickets and credits and considers other factors that could impact future expiration patterns of tickets and credits. Tickets which do not have continued validity past the departure date are recognized as revenue after the scheduled departure date has lapsed.
Passenger ticket costs primarily include credit card fees, commissions paid, and global distribution systems booking fees. Costs are allocated entirely to the purchased travel services and are capitalized until recognized when travel services are provided to the customer.
Loyalty Program
Loyalty Program   
Customers may earn points under our customer loyalty program, TrueBlue®, based on the fare paid and fare product purchased for a flight. Customers can also earn points through business partners such as credit card companies, hotels, car rental companies, and our participating airline partners.
Points Earned From a Ticket Purchase. When a TrueBlue® member travels, we recognize a portion of the fare as revenue and defer in air traffic liability the portion that represents the value of the points net of spoilage, or breakage. The transaction price is allocated to each performance obligation on a relative standalone basis. We determine the relative standalone selling price of TrueBlue® points issued using the redemption value approach. To maximize the use of observable inputs, we utilize the actual ticket value of the tickets purchased with TrueBlue® points. The liability is relieved and passenger revenue is recognized when points are redeemed and free travel is provided.
Points Sold to TrueBlue® Partners. Our most significant contract to sell TrueBlue® points is with our co-branded credit card partner. Co-branded credit card partnerships have the following identified performance obligations: air transportation; use of the JetBlue brand name and access to our frequent flyer customer lists; advertising; and other airline benefits. In determining the relative standalone selling price for co-brand credit card arrangements, JetBlue considered multiple inputs, methods and assumptions, including: discounted cash flows; estimated redemption value, net of fulfillment discount; points expected to be awarded and redeemed; estimated annual spending by cardholders; estimated annual royalty for use of JetBlue's frequent flyer customer lists; and estimated utilization of other airline benefits. Payments are typically due monthly based on the volume of points sold during the period, and the terms of our contracts are generally from one to ten years. The overall consideration received is allocated to each performance obligation based on its relative standalone selling price. The air transportation element is deferred and recognized as passenger revenue when the points are redeemed. The other elements are recognized as other revenue when the performance obligations related to those services are satisfied, which is generally the same period as when consideration is received from the participating company.
Amounts allocated to the air transportation element which are initially deferred include a portion that are expected to be redeemed during the following twelve months (included within air traffic liability), and a portion that are not expected to be redeemed during the following twelve months (included within air traffic liability - non-current). We periodically update this analysis and adjust the split between current and non-current liabilities as appropriate.
Points earned by TrueBlue® members never expire. TrueBlue® members can pool points between small groups of people, branded as Points Pooling™. Breakage is estimated using historical redemption patterns to determine a breakage rate. Breakage rates used to estimate breakage revenue are evaluated annually. Changes to breakage estimates impact revenue recognition prospectively.
Airframe and Engine Maintenance and Repair
Airframe and Engine Maintenance and Repairs   
Regular airframe maintenance for owned and leased flight equipment is expensed as incurred unless covered by a third-party long-term flight hour service agreement. We have separate service agreements in place covering scheduled and unscheduled repairs of certain airframe line replacement unit components as well as engines in our fleet. Certain of these agreements are under a power-by-the-hour agreement, which requires monthly payments at rates based on either the number of operating aircraft cycles or engine flight hours each month in exchange for a predetermined maintenance program. These power-by-the-hour agreements, if they meet certain criteria, transfer risk to the third-party service provider and therefore, are expensed based on actual flight hours or aircraft cycles occurring each period.
Advertising Costs
Advertising Costs
Advertising costs, which are included in sales and marketing, are expensed as incurred.
Share-Based Compensation
Share-Based Compensation
We record compensation expense for share-based awards based on the grant date fair value of those awards. Share-based compensation expense includes an estimate for pre-vesting forfeitures and is recognized over the requisite service periods of the awards on a straight-line basis. Refer to Note 7 for more information.
Income Taxes
Income Taxes
We account for income taxes utilizing the liability method. Deferred income taxes are recognized for the tax consequences of temporary differences between the tax and financial statement reporting bases of assets and liabilities. A valuation allowance for deferred tax assets is provided unless realization of the asset is judged by us to be more likely than not. Our policy is to recognize interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense.
Recently Issued Accounting Pronouncements
Recently Issued Accounting Pronouncements
Accounting Standards Update 2023-09—Income Taxes (Topic 740): Improvements to Income Tax Disclosures (ASU 2023-09)
ASU 2023-09 requires disaggregated information about a reporting entity's effective tax rate reconciliation as well as information on income taxes paid. Income taxes paid (net of refunds received) will be required to be disaggregated by federal, state and foreign jurisdictions. The disaggregation is based on a quantitative threshold of 5% of total income taxes paid, net of refunds received. Income (loss) before income tax benefit (expense) is also required to be disaggregated between domestic and foreign jurisdictions. ASU 2023-09 eliminates the requirement to disclose the cumulative amounts of temporary differences not recognized due to deferred tax liabilities. The standard is effective for fiscal years beginning after December 15, 2024. The standard will be applied prospectively, with the option to apply on a retrospective basis. Early adoption is permitted. We do not intend to early adopt this standard.
Accounting Standards Update 2023-07—Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (ASU 2023-07)
ASU 2023-07 requires a reporting entity to disclose significant segment expense categories and other segment items for each reportable segment on an annual and interim basis. Annual disclosures about a segments income (loss) will be required on an interim basis. The standard is effective for fiscal years beginning after December 15, 2023 and for interim periods within fiscal years beginning after December 31, 2024. The standard will be applied on a retrospective basis. Early adoption is permitted. We do not intend to early adopt this standard.
Equity method investments
Equity method investments
Investments in which we can exercise significant influence are accounted for using the equity method in accordance with Topic 323, Investments - Equity Method and Joint Ventures of the Codification.
Other Investments
Other Investments
Our equity investment securities include investments in common stocks of publicly traded companies which are stated at fair value. We had an immaterial carrying amount of equity investment securities as of December 31, 2023. The carrying amount of our equity investment securities, which are recorded within investment securities in the current assets section of our consolidated balance sheets, was $8 million as of December 31, 2022. We recognized a net unrealized gain of $2 million, and a net unrealized loss of $12 million, and $10 million in other income on our consolidated statement of operations for the years ending December 31, 2023, 2022, and 2021 respectively. We also recognized a net realized gain of $4 million and $1 million related to the sale of one of our equity investments in gain (loss) on investments for the years ending December 31, 2023 and 2022. We did not recognize any realized gains or losses during the same period ending December 31, 2021.
Our wholly-owned subsidiary, JBV, has equity investments in emerging companies which do not have readily determinable fair values. The carrying amount of these investments, which is included within other assets on our consolidated balance sheets,
v3.24.0.1
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2023
Accounting Policies [Abstract]  
Schedule of property, plant and equipment
Estimated useful lives and residual values for property and equipment are summarized as follows:
Property and Equipment TypeEstimated Useful LifeResidual Value
Aircraft (1)
25 years20 %
Inflight entertainment systems
5-10 years
0 %
Aircraft partsFleet life10 %
Flight equipment leasehold improvementsLower of lease term or economic life0 %
Ground property and equipment
2-10 years
0 %
Leasehold improvements - otherLower of lease term or economic life0 %
Buildings on leased landLease term0 %
(1) The estimated remaining useful life of our Embraer E190 fleet ranges from 0-2 years with an average residual value of 12%. In addition, five Airbus A320 airframe were extended to an estimated useful life of between 26 to 27 years with an average residual value of $1.5 million.
Schedule of Amortization Expense As of December 31, 2023, amortization expense related to computer software is expected to be as follows (in millions):
Amortization Expense
2024$57 
202543 
202630 
202721 
20285 
v3.24.0.1
Revenue Recognition (Tables)
 12 Months Ended
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]  
Disaggregation of revenue The following table provides revenue recognized by revenue source for the years ended December 31, 2023, 2022, and 2021 (in millions):
Twelve Months Ended December 31,
202320222021
Passenger revenue
Passenger travel$8,403 $8,078 $5,304 
Loyalty revenue - air transportation605 508 305 
Other revenue
Loyalty revenue422 391 306 
Other revenue185 181 122 
Total operating revenue$9,615 $9,158 $6,037 
Contract with customer, contract asset, contract liability, and receivable
Our contract liabilities primarily consist of ticket sales for which transportation has not yet been provided, unused credits available to customers, and outstanding loyalty points available for redemption (in millions):
December 31, 2023December 31, 2022
Air traffic liability - passenger travel$1,099 $1,291 
Air traffic liability - loyalty program (air transportation)1,072 1,000 
Deferred revenue (1)
487 530 
Total $2,658 $2,821 
(1) Deferred revenue is included within other accrued liabilities and other liabilities on our consolidated balance sheets.
The table below presents the activity of the current and non-current air traffic liability for our loyalty program, and includes points earned and sold to participating companies for the years ended December 31, 2023 and 2022 (in millions):
Balance at December 31, 2021$891 
TrueBlue® points redeemed passenger
(508)
TrueBlue® points earned and sold
617 
Balance at December 31, 20221,000 
TrueBlue® points redeemed passenger
(605)
TrueBlue® points redeemed other
(24)
TrueBlue® points earned and sold
701 
Balance at December 31, 2023$1,072 
v3.24.0.1
Long-term Debt, Short-term Borrowings and Finance Lease Obligations (Tables)
 12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Schedule of long term debt
Long-term debt and finance lease obligations and the related weighted average contractual interest rate at December 31, 2023 and 2022 consisted of the following (in millions):
 December 31, 2023December 31, 2022
Secured Debt
Fixed rate specialty bonds, due through 2036$43 5.0 %$43 4.9 %
Fixed rate enhanced equipment notes:
2019-1 Series AA, due through 2032481 2.8 %510 2.8 %
2019-1 Series A, due through 2028150 3.0 %159 3.0 %
2019-1 Series B, due through 202771 8.1 %83 8.1 %
2020-1 Series A, due through 2032511 4.1 %552 4.1 %
2020-1 Series B, due through 2028118 7.8 %136 7.8 %
Fixed rate enhanced equipment notes, due through 2023— — %61 4.4 %
Fixed rate equipment notes, due through 2028323 4.3 %448 4.2 %
Floating rate equipment notes, due through 2030109 7.4 %56 6.9 %
Aircraft sale-leaseback transactions, due through 20351,649 7.0 %341 7.3 %
Finance leases— — %2 6.1 %
Unsecured Debt
Unsecured CARES Act Payroll Support Program loan, due through 2030259 2.0 %259 2.0 %
Unsecured Consolidated Appropriations Act Payroll Support Program Extension loan, due through 2031144 2.0 %144 2.0 %
Unsecured American Rescue Plan Act of 2021 Payroll Support loan, due through 2031132 2.0 %132 2.0 %
0.50% convertible senior notes, due through 2026
750 0.5 %750 0.5 %
Total debt and finance lease obligations$4,740 $3,676 
Less: Debt acquisition cost(24)(29)
Less: Current maturities(307)(554)
Long-term debt and finance lease obligations$4,409 $3,093 
Schedule of maturities of long-term debt
Maturities of our debt and finance leases, net of debt acquisition costs, for the next five years are as follows (in millions):
Maturities
2024$301 
2025273 
20261,017 
2027269 
2028374 
Thereafter2,482 
Schedule of carrying amounts and estimated fair values of long-term debt
The carrying amounts and estimated fair values of our long-term debt, net of debt acquisition costs, at December 31, 2023 and 2022 were as follows (in millions):
December 31, 2023December 31, 2022
Carrying Value
Estimated Fair Value (1)
Carrying ValueEstimated Fair Value
Public Debt
Fixed rate special facility bonds, due through 2036$42 $43 $42 $43 
Fixed rate enhanced equipment notes:
2019-1 Series AA, due through 2032476 474 504 345 
2019-1 Series A, due through 2028149 150 157 124 
2019-1 Series B, due through 202770 86 82 87 
2020-1 Series A, due through 2032506 597 546 457 
2020-1 Series B, due through 2028117 150 135 142 
Non-Public Debt
Fixed rate enhanced equipment notes, due through 2023— — 61 60 
Fixed rate equipment notes, due through 2028322 305 447 422 
Floating rate equipment notes, due through 2030109 113 56 49 
Unsecured CARES Act Payroll Support Program loan, due through 2030259 184 259 126 
Aircraft sale-leaseback transactions, due through 20351,648 1,738 341 329 
Unsecured Consolidated Appropriations Act Payroll Support Program Extension loan, due through 2031144 101 144 68 
Unsecured American Rescue Plan Act of 2021 Payroll Support loan, due through 2031132 93 132 62 
0.50% convertible senior notes, due through 2026
742 657 739 534 
Total (2)
$4,716 $4,691 $3,645 $2,848 
(1) The estimated fair values of our publicly held long-term debt are classified as Level 2 in the fair value hierarchy. The fair values of our non-public debt are estimated using a discounted cash flow analysis based on our borrowing rates for instruments with similar terms and therefore classified as Level 3 in the fair value hierarchy. The fair values of our other financial instruments approximate their carrying values. Refer to Note 13 for an explanation of the fair value hierarchy structure.
(2) Total excludes finance lease obligations of $2 million at December 31, 2022, and an immaterial amount at December 31, 2023.
v3.24.0.1
Leases (Tables)
 12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Schedule of lease assets and liabilities
The table below presents the lease-related assets and liabilities recorded on our consolidated balance sheets as of December 31, 2023 and 2022 (in millions):
As of December 31,
20232022
AssetsClassification on Balance Sheet
Operating lease assetsOperating lease assets$593 $660 
Finance lease assetsProperty and equipment, net— 2 
Total lease assets$593 $662 
LiabilitiesClassification on Balance Sheet
Current:
Operating lease liabilitiesCurrent operating lease liabilities$117 $97 
Finance lease liabilitiesCurrent maturities of long-term debt and finance lease obligations— 2 
Long-term:
Operating lease liabilitiesLong-term operating lease liabilities547 639 
Finance lease liabilitiesLong-term debt and finance lease obligations— — 
Total lease liabilities$664 $738 
As of December 31,
20232022
Weighted average remaining lease term (in years)
Operating leases89
Finance leases— 1
Weighted average discount rate
Operating leases7.05 %6.76 %
Finance leases— %6.09 %
Lease, cost
The table below presents certain information related to our lease costs during the years ended December 31, 2023, 2022, and 2021 (in millions):
202320222021
Operating lease cost$167 $158 $165 
Short-term lease cost2 1 1 
Finance lease cost:
Interest on lease liabilities— — 1 
Variable lease cost614 500 562 
Sublease income20 20 10 
Total net lease cost$803 $679 $739 
Schedule of leases, supplemental cash flows
The table below presents supplemental cash flow information related to leases during the years ended December 31, 2023, 2022, and 2021 (in millions):
202320222021
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases$168 $154 $160 
Operating cash flows for finance leases— — 3 
Financing cash flows for finance leases2 1 59 
Lessee, operating lease, liability, maturity
The table below presents scheduled future minimum lease payments for operating leases recorded on our consolidated balance sheets, as of December 31, 2023 (in millions):
As of December 31, 2023
Operating Leases
2024$160 
2025115 
202690 
202786 
202873 
Thereafter365 
Total minimum lease payments$889 
Less: amount of lease payment representing interest(225)
Present value of future minimum lease payment$664 
Less: current obligations under leases(117)
Long-term lease obligations$547 
Lessee, finance lease, liability, maturity
The table below presents scheduled future minimum lease payments for operating leases recorded on our consolidated balance sheets, as of December 31, 2023 (in millions):
As of December 31, 2023
Operating Leases
2024$160 
2025115 
202690 
202786 
202873 
Thereafter365 
Total minimum lease payments$889 
Less: amount of lease payment representing interest(225)
Present value of future minimum lease payment$664 
Less: current obligations under leases(117)
Long-term lease obligations$547 
v3.24.0.1
Loss Per Share (Tables)
 12 Months Ended
Dec. 31, 2023
Earnings Per Share [Abstract]  
Schedule of loss per share, basic and diluted
The following table shows how we computed basic and diluted loss per common share for the years ended December 31 (dollars and share data in millions):
202320222021
Net loss$(310)$(362)$(182)
Weighted average basic shares332.9 323.6 318.0 
Effect of dilutive securities— — — 
Weighted average diluted shares332.9 323.6 318.0 
Loss per common share
Basic $(0.93)$(1.12)$(0.57)
Diluted$(0.93)$(1.12)$(0.57)
v3.24.0.1
Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Summary of restricted stock unit activity
The following is a summary of RSU activity under the 2020 Plan for the year ended December 31, 2023 (in millions except per share data):
Shares Weighted Average Grant Date Fair Value
Nonvested at beginning of year3 $13.97 
Granted5 7.48 
Vested(2)14.56 
Forfeited— 10.81 
Nonvested at end of year6 $8.90 
v3.24.0.1
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2023
Income Tax Disclosure [Abstract]  
Schedule of provision for income tax benefit (expense)
Our income tax benefit (expense) consisted of the following for the years ended December 31 (in millions):
202320222021
Deferred:
Federal$43 $86 $44 
State6 (13)44 
Foreign(22)— — 
Deferred income tax benefit27 73 88 
Current:
Federal1 3 (3)
State1 — (5)
Foreign(5)(1)1 
Current income tax benefit (expense)(3)2 (7)
Total income tax benefit$24 $75 $81 
Schedule of income taxes differed from the federal income tax statutory rate
Our income tax benefit reconciles to the amount computed below by applying the U.S. federal statutory income tax rate to our loss before income taxes for the years ended December 31 as follows (in millions):
202320222021
Income tax benefit at statutory rate$70 $92 $55 
State income tax, net of federal benefit7 (13)36 
Nondeductible expenses(14)(8)(5)
Foreign rate differential— (4)5 
Valuation allowance(49)2 (4)
Unrecognized tax benefit (expense)— 3 (7)
Research & Development tax credits11 — — 
Other, net(1)3 1 
Total income tax benefit$24 $75 $81 
Schedule of deferred tax assets and deferred liabilities
The components of our deferred tax assets and liabilities as of December 31 are as follows (in millions):
20232022
Deferred tax assets:
Deferred revenue/gains220 271 
Employee benefits95 72 
Foreign tax credit90 78 
Other credits15 4 
Net operating loss carryforward914 709 
Interest expense limitation carryforward50 29 
Operating lease liabilities161 194 
Rent expense18 84 
Transaction costs25 13 
Sec. 174 research activities27 16 
Other16 20 
Total deferred tax assets1,631 1,490 
Valuation allowance(153)(90)
Deferred tax assets, net1,478 1,400 
Deferred tax liabilities:
Property and equipment(2,049)(1,963)
Operating lease assets(143)(173)
Other(29)(34)
Total deferred tax liabilities(2,221)(2,170)
Net deferred tax liability$(743)$(770)
Schedule of reconciliation of the beginning and ending amount of unrecognized tax benefits
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in millions):
202320222021
Unrecognized tax benefits at January 1,$26 $40 $32 
Increases for tax positions taken during the period— 5 2 
Decreases for tax positions taken during the period(5)(6)(1)
Increases for tax positions taken during a prior period5 — 19 
Decreases for tax positions taken during a prior period(1)(13)(12)
Unrecognized tax benefits December 31,$25 $26 $40 
v3.24.0.1
Commitments (Tables)
 12 Months Ended
Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]  
Summary of flight equipment commitments
Our committed expenditures for aircraft and related flight equipment, including estimated amounts for contractual price escalations and pre-delivery deposits, is set forth in the table below (in millions):
Flight Equipment Commitments (1)
YearTotal
2024$1,235 
20251,169 
20261,145 
2027 1,015 
20281,504 
Thereafter1,137 
Total$7,205 
(1) On January 26, 2024, JetBlue and Airbus entered into an amended delivery schedule pursuant to which we agreed to defer 41 aircraft originally scheduled for delivery from 2024 through 2027 to revised delivery dates from 2025 through 2029. The table above and the Flight Equipment Deliveries table below reflect our aircraft purchase commitments after giving effect to this revised delivery schedule.
Our firm aircraft orders include the following aircraft:
Flight Equipment Deliveries (1)
YearAirbus A220 Airbus A321neoTotal
202420 7 27 
202520 5 25 
202620 4 24 
20275 9 14 
Thereafter11 30 41 
Total (2)
76 55 131 
(1) Refer to the Flight Equipment Commitments table above for additional information on the amended Airbus delivery schedule.
(2) In addition, we have options to purchase an additional 20 A220-300 aircraft.
v3.24.0.1
Financial Derivative Instruments and Risk Management (Tables)
 12 Months Ended
Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative instrument in statement of financial position and financial performance
The following table illustrates the approximate hedged percentages of our projected fuel usage by quarter related to our outstanding fuel hedging contracts that were designated as cash flow hedges for accounting purposes as of December 31, 2023.
Aircraft fuel call option spread agreements
First Quarter 202430 %
Second Quarter 202416 %
Third Quarter 20243 %
Fourth Quarter 20245 %
The table below reflects quantitative information related to our derivative instruments and where these amounts are recorded in our financial statements (dollar amounts in millions):
Year Ended December 31,
 20232022
Fuel derivatives 
Asset fair value recorded in prepaid expenses and other current assets (1)
$4 $3 
Longest remaining term (months)33
Hedged volume (barrels, in thousands)2,706 450 
Estimated amount of existing gains (losses) expected to be reclassified into earnings in the next 12 months(3)2 
(1) Gross asset or liability of each contract prior to consideration of offsetting positions with each counterparty and prior to impact of collateral paid.
Year Ended December 31,
 202320222021
Fuel derivatives
Hedge effectiveness gains (losses) recognized in aircraft fuel expense
$7 $(7)$— 
Hedge gains (losses) on derivatives recognized in comprehensive income1 (3)— 
Percentage of actual consumption economically hedged25 %7 %— %
v3.24.0.1
Fair Value (Tables)
 12 Months Ended
Dec. 31, 2023
Fair Value Disclosures [Abstract]  
Fair value, by balance sheet grouping
The following is a listing of our assets required to be measured at fair value on a recurring basis and where they are classified within the fair value hierarchy as of December 31, 2023 and 2022 (in millions):
As of December 31, 2023
Level 1Level 2Level 3Total
Assets
Cash equivalents$724 $— $— $724 
Available-for-sale investment securities— 314 16 330 
Aircraft fuel derivatives— 4 — 4 

As of December 31, 2022
Level 1Level 2Level 3Total
Assets
Cash equivalents$665 $— $— $665 
Available-for-sale investment securities— 324 13 337 
Equity investment securities8 — — 8 
Aircraft fuel derivatives— 3 — 3 
Debt securities, held-to-maturity
The carrying value and estimated fair value of our held-to-maturity investment securities were as follows (in millions):
December 31, 2023December 31, 2022
Carrying ValueFair ValueCarrying ValueFair Value
Held-to-maturity investment securities$234 $231 $177 $170 
v3.24.0.1
Investments (Tables)
 12 Months Ended
Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]  
Schedule of marketable securities The aggregate carrying values of our short-term and long-term debt investment securities consisted of the following at December 31, 2023 and 2022 (in millions):
December 31, 2023December 31, 2022
Available-for-sale investment securities 
Time deposits$290 $285 
Commercial paper24 39 
Debt securities16 13 
Total available-for-sale securities330 337 
Held-to-maturity investment securities
Corporate bonds234 177 
Total held-to-maturity securities234 177 
Total investment in debt securities$564 $514 
v3.24.0.1
Accumulated Other Comprehensive Income (Loss) (Tables)
 12 Months Ended
Dec. 31, 2023
Equity [Abstract]  
Accumulated other comprehensive income (loss), net of taxes A rollforward of the amounts included in accumulated other comprehensive income (loss), net of taxes for the years ended December 31, 2023, 2022, and 2021 is as follows (in millions):
Aircraft Fuel Derivatives (1)
Available-for-sale securitiesTotal
Balance of accumulated income, at December 31, 2020$— $— $— 
Reclassifications into earnings, net of taxes of $0
— — — 
Change in fair value, net of taxes of $0
— — — 
Balance of accumulated income, at December 31, 2021$— $— $— 
Reclassifications into earnings, net of taxes of $(3)
4 — 4 
Change in fair value, net of taxes of $2
(3)(1)(4)
Balance of accumulated income (loss), at December 31, 2022$1 $(1)$— 
Reclassifications into earnings, net of taxes of $2
(5)(1)(6)
Change in fair value, net of taxes of $0
1 1 2 
Balance of accumulated loss, at December 31, 2023$(3)$(1)$(4)
(1) Reclassified to aircraft fuel expense.
v3.24.0.1
Geographic Information (Tables)
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Summary of operating revenues by geographic regions
Operating revenues are allocated to geographic regions, as defined by the Department of Transportation (“DOT”), based upon the origination and destination of each flight segment. As of December 31, 2023, we served 36 locations in the Caribbean and Latin American region, or Latin America as defined by the DOT. We also served three destinations in Europe, or Atlantic as defined by the DOT. We include the three destinations in Puerto Rico and one destination in the U.S. Virgin Islands in our Caribbean and Latin America allocation of revenues. We have reflected these locations within the Caribbean and Latin America region in the table below. Operating revenues by geographic regions for the years ended December 31 are summarized below (in millions):
202320222021
Domestic & Canada$6,072 $6,067 $3,869 
Caribbean & Latin America3,282 2,968 2,150 
Atlantic261 123 18 
Total$9,615 $9,158 $6,037 
v3.24.0.1
Special Items (Tables)
 12 Months Ended
Dec. 31, 2023
Unusual or Infrequent Items, or Both [Abstract]  
Schedule of unusual or infrequent items, or both
The following is a listing of special items presented on our consolidated statements of operations (in millions):
Year Ended December 31,
202320222021
Special Items
Union contract costs (1)
$105 $33 $8 
Spirit costs (2)
92 28 — 
Embraer E190 fleet transition (3)
— 52 — 
Federal payroll support grant recognition (4)
— — (830)
CARES Act employee retention credit (5)
— — (11)
Total$197 $113 $(833)
(1) Union contract costs in 2023 and 2022 primarily relate to pilot ratification payments and adjustments to paid-time-off accruals resulting from pay rate increases. Union contract costs in 2021 relate to inflight ratification payments. See Note 10 for further discussion.
(2) Spirit costs primarily relate to consulting, professional and legal fees.
(3) Embraer E190 transition charges relate to fleet impairment losses on certain aircraft and spare parts as well as retirement losses due to engine exchanges as a result of our fleet transition.
(4) As discussed in Note 3, we received assistance in the form of grants and unsecured loans under various federal payroll support programs. Funds under these federal payroll support programs were to be used exclusively for the continuation of payment of crewmember wages, salaries, and benefits. The carrying values of the payroll support grants (after consideration of the warrants we issued) were recorded within other liabilities and were recognized as contra-expenses within special items on our consolidated statements of operations as the funds were utilized. Our payroll support grants were fully utilized as of December 31, 2022.
(5) The Employee Retention Credit (“ERC”) under the CARES Act is a refundable tax credit which encouraged businesses to keep employees on the payroll during the COVID-19 pandemic. Qualified wages are the wages paid to an employee for the time that the employee is not providing services due to an economic hardship, specifically, either (1) a full or partial suspension of operations by order of a governmental authority due to COVID-19, or (2) a significant decline in gross receipts. Our policy is to recognize the ERC when it is filed with the IRS.
v3.24.0.1
Summary of Significant Accounting Policies - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]      
Advertising expense $ 66 $ 59 $ 45
Minimum      
Finite-Lived Intangible Assets [Line Items]      
Term of contract under loyalty program 1 year    
Maximum      
Finite-Lived Intangible Assets [Line Items]      
Term of contract under loyalty program 10 years    
Computer software, intangible asset      
Finite-Lived Intangible Assets [Line Items]      
Useful life of software 5 years    
Capitalized computer software, net $ 157 123  
Amortization expense 62 51 $ 45
High density airports, take-off and landing slots      
Finite-Lived Intangible Assets [Line Items]      
Intangible assets, net (excluding goodwill) 139 $ 139  
JMP Holdings, LLC      
Finite-Lived Intangible Assets [Line Items]      
Restricted cash $ 65    
Ownership percentage, noncontrolling interest 5.00%    
TWA Flight Center Hotel      
Finite-Lived Intangible Assets [Line Items]      
Ownership percentage, noncontrolling interest 10.00%    
v3.24.0.1
Summary of Significant Accounting Policies - Estimated Useful Lives and Residual Values (Details)
$ in Millions
Dec. 31, 2023
USD ($)
aircraft
Aircraft  
Property, Plant and Equipment [Line Items]  
Estimated Useful Life 25 years
Residual Value 20.00%
Inflight entertainment systems  
Property, Plant and Equipment [Line Items]  
Residual Value 0.00%
Aircraft parts  
Property, Plant and Equipment [Line Items]  
Residual Value 10.00%
Flight equipment leasehold improvements  
Property, Plant and Equipment [Line Items]  
Residual Value 0.00%
Ground property and equipment  
Property, Plant and Equipment [Line Items]  
Residual Value 0.00%
Leasehold improvements - other  
Property, Plant and Equipment [Line Items]  
Residual Value 0.00%
Buildings on leased land  
Property, Plant and Equipment [Line Items]  
Residual Value 0.00%
E190  
Property, Plant and Equipment [Line Items]  
Residual Value 12.00%
Airbus A320  
Property, Plant and Equipment [Line Items]  
Number of available aircraft | aircraft 5
Average residual value | $ $ 1.5
Minimum | Inflight entertainment systems  
Property, Plant and Equipment [Line Items]  
Estimated Useful Life 5 years
Minimum | Ground property and equipment  
Property, Plant and Equipment [Line Items]  
Estimated Useful Life 2 years
Minimum | E190  
Property, Plant and Equipment [Line Items]  
Estimated Useful Life 0 years
Minimum | Airbus A320  
Property, Plant and Equipment [Line Items]  
Estimated Useful Life 26 years
Maximum | Inflight entertainment systems  
Property, Plant and Equipment [Line Items]  
Estimated Useful Life 10 years
Maximum | Ground property and equipment  
Property, Plant and Equipment [Line Items]  
Estimated Useful Life 10 years
Maximum | E190  
Property, Plant and Equipment [Line Items]  
Estimated Useful Life 2 years
Maximum | Airbus A320  
Property, Plant and Equipment [Line Items]  
Estimated Useful Life 27 years
v3.24.0.1
Summary of Significant Accounting Policies - Schedule of Amortization Expense (Details) - Computer software, intangible asset
$ in Millions
Dec. 31, 2023
USD ($)
Finite-Lived Intangible Assets [Line Items]  
2024 $ 57
2025 43
2026 30
2027 21
2028 $ 5
v3.24.0.1
Revenue Recognition - Revenue Recognized By Revenue (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Passenger revenue      
Passenger travel $ 8,403 $ 8,078 $ 5,304
Loyalty revenue - air transportation 605 508 305
Other revenue      
Loyalty revenue 422 391 306
Other revenue 185 181 122
Total operating revenue $ 9,615 $ 9,158 $ 6,037
v3.24.0.1
Revenue Recognition - Contract Liabilities (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Revenue from Contract with Customer [Abstract]    
Air traffic liability - passenger travel $ 1,099 $ 1,291
Air traffic liability - loyalty program (air transportation) 1,072 1,000
Deferred revenue 487 530
Total $ 2,658 $ 2,821
v3.24.0.1
Revenue Recognition - Narrative (Details) - USD ($)
$ in Billions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Disaggregation of Revenue [Line Items]    
Contract with customer, liability, revenue recognized $ 1.2 $ 1.2
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01    
Disaggregation of Revenue [Line Items]    
Revenue, remaining performance obligation, expected timing of satisfaction, period 3 years  
v3.24.0.1
Revenue Recognition - Current And Non-Current Air Traffic Liability (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Revenue From Contract With Customer [Roll Forward]    
Beginning balance $ 1,000 $ 891
TrueBlue® points redeemed passenger (605) (508)
TrueBlue® points earned and sold 701 617
TrueBlue® points redeemed other (24)  
Ending balance $ 1,072 $ 1,000
v3.24.0.1
Long-term Debt, Short-term Borrowings and Finance Lease Obligations - Finance Lease Obligations And The Related Weighted Average Interest Rate (Details) - USD ($)
Dec. 31, 2023
Dec. 31, 2022
Debt Instrument [Line Items]    
Present value of future minimum lease payment $ 0 $ 2,000,000
Finance leases 0.00% 6.09%
Total debt and capital lease obligations $ 4,740,000,000 $ 3,676,000,000
Less: Debt acquisition cost (24,000,000) (29,000,000)
Less: Current maturities (307,000,000) (554,000,000)
Long-term debt and finance lease obligations 4,409,000,000 3,093,000,000
Fixed rate specialty bonds, due through 2036    
Debt Instrument [Line Items]    
Secured debt $ 43,000,000 $ 43,000,000
Weighted average interest rate 5.00% 4.90%
2019-1 Series AA, due through 2032    
Debt Instrument [Line Items]    
Secured debt $ 481,000,000 $ 510,000,000
Weighted average interest rate 2.80% 2.80%
2019-1 Series A, due through 2028    
Debt Instrument [Line Items]    
Secured debt $ 150,000,000 $ 159,000,000
Weighted average interest rate 3.00% 3.00%
2019-1 Series B, due through 2027    
Debt Instrument [Line Items]    
Secured debt $ 71,000,000 $ 83,000,000
Weighted average interest rate 8.10% 8.10%
2020-1 Series A, due through 2032    
Debt Instrument [Line Items]    
Secured debt $ 511,000,000 $ 552,000,000
Weighted average interest rate 4.10% 4.10%
2020-1 Series B, due through 2028    
Debt Instrument [Line Items]    
Secured debt $ 118,000,000 $ 136,000,000
Weighted average interest rate 7.80% 7.80%
Fixed rate enhanced equipment notes, due through 2023    
Debt Instrument [Line Items]    
Secured debt $ 0 $ 61,000,000
Weighted average interest rate 0.00% 4.40%
Fixed rate equipment notes, due through 2028    
Debt Instrument [Line Items]    
Secured debt $ 323,000,000 $ 448,000,000
Weighted average interest rate 4.30% 4.20%
Floating rate equipment notes, due through 2030    
Debt Instrument [Line Items]    
Secured debt $ 109,000,000 $ 56,000,000
Weighted average interest rate 7.40% 6.90%
Aircraft sale-leaseback transactions, due through 2035    
Debt Instrument [Line Items]    
Secured debt $ 1,649,000,000 $ 341,000,000
Weighted average interest rate 7.00% 7.30%
Unsecured CARES Act Payroll Support Program loan, due through 2030    
Debt Instrument [Line Items]    
Weighted average interest rate 2.00% 2.00%
Unsecured debt $ 259,000,000 $ 259,000,000
Unsecured Consolidated Appropriations Act Payroll Support Program Extension loan, due through 2031    
Debt Instrument [Line Items]    
Weighted average interest rate 2.00% 2.00%
Unsecured debt $ 144,000,000 $ 144,000,000
Unsecured American Rescue Plan Act of 2021 Payroll Support loan, due through 2031    
Debt Instrument [Line Items]    
Weighted average interest rate 2.00% 2.00%
Unsecured debt $ 132,000,000 $ 132,000,000
0.50% convertible senior notes, due through 2026    
Debt Instrument [Line Items]    
Weighted average interest rate 0.50% 0.50%
Debt instrument, interest rate, stated percentage 0.50%  
Long-term debt $ 750,000,000 $ 750,000,000
v3.24.0.1
Long-term Debt, Short-term Borrowings and Finance Lease Obligations - Fixed Rate Notes (Details)
 12 Months Ended
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
aircraft
Aug. 31, 2020
USD ($)
aircraft
Dec. 31, 2019
USD ($)
aircraft
Nov. 30, 2019
USD ($)
aircraft
Dec. 31, 2018
USD ($)
aircraft
Mar. 30, 2014
USD ($)
aircraft
Apr. 30, 2013
USD ($)
Fixed rate specialty bonds, due through 2036                
Debt Instrument [Line Items]                
Debt instrument, face amount               $ 42,000,000
Debt instrument, net amount               43,000,000
Debt instrument, unamortized premium               $ 1,000,000
Secured debt $ 43,000,000 $ 43,000,000            
Fixed rate enhanced equipment notes, 2020-1A and B | Long-term Debt                
Debt Instrument [Line Items]                
Debt instrument, face amount     $ 808,000,000   $ 772,000,000      
2019-1 Series B, due through 2027                
Debt Instrument [Line Items]                
Secured debt 71,000,000 83,000,000            
2019-1 Series B, due through 2027 | Long-term Debt                
Debt Instrument [Line Items]                
Debt instrument, face amount     $ 115,000,000          
Debt instrument, interest rate, stated percentage     8.00%          
2019-1 Series B, due through 2027 | Long-term Debt | Airbus A321                
Debt Instrument [Line Items]                
Number of aircraft, secured debt transactions | aircraft     24   25      
2020-1 Series A, due through 2032                
Debt Instrument [Line Items]                
Secured debt 511,000,000 552,000,000            
2020-1 Series A, due through 2032 | Long-term Debt                
Debt Instrument [Line Items]                
Debt instrument, face amount     $ 636,000,000   $ 589,000,000      
Debt instrument, interest rate, stated percentage     4.00%   2.75%      
2020-1 Series B, due through 2028                
Debt Instrument [Line Items]                
Secured debt 118,000,000 136,000,000            
2020-1 Series B, due through 2028 | Long-term Debt                
Debt Instrument [Line Items]                
Debt instrument, face amount     $ 172,000,000   $ 183,000,000      
Debt instrument, interest rate, stated percentage     7.75%   2.95%      
Fixed rate enhanced equipment notes, due through 2023                
Debt Instrument [Line Items]                
Secured debt 0 61,000,000            
Fixed rate enhanced equipment notes, due through 2023 | Secured Debt                
Debt Instrument [Line Items]                
Debt instrument, face amount             $ 226,000,000  
Number of aircraft, secured debt transactions | aircraft             8  
Repayments of debt 61,000,000              
Fixed rate enhanced equipment notes, due through 2023 | Secured Debt | A-320-200                
Debt Instrument [Line Items]                
Number of new aircraft held as security | aircraft             14  
Fixed rate equipment notes, due through 2028                
Debt Instrument [Line Items]                
Debt instrument, face amount   11,000,000   $ 219,000,000   $ 567,000,000    
Secured debt $ 323,000,000 $ 448,000,000            
Fixed rate equipment notes, due through 2028 | Secured Debt | A-320                
Debt Instrument [Line Items]                
Number of new aircraft held as security | aircraft       10   14    
Fixed rate equipment notes, due through 2028 | Secured Debt | A-321                
Debt Instrument [Line Items]                
Number of new aircraft held as security | aircraft       2   10    
Fixed rate equipment notes, due through 2028 | Secured Debt | E190                
Debt Instrument [Line Items]                
Number of aircraft, secured debt transactions | aircraft   5            
v3.24.0.1
Long-term Debt, Short-term Borrowings and Finance Lease Obligations - Payroll Loans (Details)
$ / shares in Units, shares in Millions
 1 Months Ended 12 Months Ended
May 06, 2021
USD ($)
$ / shares
shares
Jan. 15, 2021
USD ($)
$ / shares
shares
Apr. 23, 2020
USD ($)
$ / shares
shares
Feb. 12, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Apr. 30, 2023
USD ($)
Sep. 29, 2020
Dec. 31, 2018
USD ($)
aircraft
Debt Instrument [Line Items]                      
CARES act, payroll support program, grant     $ 704,000,000                
Debt instrument term     10 years                
Class of warrant or right, outstanding (in shares) | shares     2.7                
Class of warrant or right, exercise price of warrants or rights (in dollars per share) | $ / shares     $ 9.50                
CARES act, payroll support program, total payment     $ 963,000,000                
Warrants and rights outstanding, term                   5 years  
Proceeds from sale leaseback transactions         $ 1,300,000,000 $ 0 $ 0 $ 563,000,000      
Proceeds from sale-leaseback transactions         $ 1,331,000,000 $ 0 $ 0 354,000,000      
Proceeds from sale-leaseback transactions               209,000,000      
Losses on sale-leaseback transactions               $ 106,000,000      
Subsequent Event                      
Debt Instrument [Line Items]                      
Proceeds from sale leaseback transactions       $ 174,000,000              
Payroll Support 2 Payments                      
Debt Instrument [Line Items]                      
CARES act, payroll support program, grant   $ 436,000,000                  
Debt instrument term   10 years                  
Class of warrant or right, outstanding (in shares) | shares   1.0                  
Class of warrant or right, exercise price of warrants or rights (in dollars per share) | $ / shares   $ 14.43                  
CARES Act, Payroll support program 2, total payment   $ 580,000,000                  
Payroll Support 3 Payments                      
Debt Instrument [Line Items]                      
CARES act, payroll support program, grant $ 409,000,000                    
Debt instrument term 10 years                    
Class of warrant or right, outstanding (in shares) | shares 0.7                    
Class of warrant or right, exercise price of warrants or rights (in dollars per share) | $ / shares $ 19.90                    
CARES act, payroll support program, total payment $ 541,000,000                    
Floating rate equipment notes, due through 2030                      
Debt Instrument [Line Items]                      
Debt instrument, face amount                 $ 78,000,000   $ 120,000,000
Floating rate equipment notes, due through 2030 | Secured Debt | A-320                      
Debt Instrument [Line Items]                      
Number of new aircraft held as security | aircraft                     6
Floating rate equipment notes, due through 2030 | Secured Debt | A-321                      
Debt Instrument [Line Items]                      
Number of new aircraft held as security | aircraft                     1
US Department of Treasury | Unsecured Debt                      
Debt Instrument [Line Items]                      
Debt instrument, face amount     $ 259,000,000                
Debt instrument, interest rate, stated percentage     1.00%                
US Department of Treasury | Unsecured Debt | Payroll Support 2 Payments                      
Debt Instrument [Line Items]                      
Debt instrument, face amount   $ 144,000,000                  
Debt instrument, interest rate, stated percentage   1.00%                  
US Department of Treasury | Unsecured Debt | Payroll Support 3 Payments                      
Debt Instrument [Line Items]                      
Debt instrument, face amount $ 132,000,000                    
Debt instrument, interest rate, stated percentage 1.00%                    
US Department of Treasury | Unsecured Debt | SOFR                      
Debt Instrument [Line Items]                      
Debt instrument, basis spread on variable rate     2.00%                
US Department of Treasury | Unsecured Debt | SOFR | Payroll Support 2 Payments                      
Debt Instrument [Line Items]                      
Debt instrument, basis spread on variable rate   2.00%                  
US Department of Treasury | Unsecured Debt | SOFR | Payroll Support 3 Payments                      
Debt Instrument [Line Items]                      
Debt instrument, basis spread on variable rate 2.00%                    
v3.24.0.1
Long-term Debt, Short-term Borrowings and Finance Lease Obligations - Senior Notes and General Debt (Details)
 1 Months Ended 12 Months Ended
Mar. 31, 2021
USD ($)
day
$ / shares
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Debt Instrument [Line Items]        
Interest expense   $ 7,000,000 $ 7,000,000  
Debt issuance costs amortization   3,000,000 3,000,000  
Repayment of long-term debt   347,000,000 369,000,000 $ 1,892,000,000
Debt extinguishment expense   0 0 50,000,000
Pledged assets not separately reported flight equipment   7,100,000,000    
Interest paid, including capitalized interest, operating and investing activities   $ 80,000,000 $ 124,000,000 $ 180,000,000
Convertible Senior Notes Due 2026 | Senior Notes        
Debt Instrument [Line Items]        
Debt instrument, interest rate, stated percentage 0.50% 0.50%    
Debt instrument, face amount $ 750,000,000      
Proceeds from offering $ 734,000,000      
Debt instrument, convertible ratio (in dollars per share) | $ / shares $ 25.92      
Debt instrument, conversion ratio 0.0385802      
Convertible Senior Notes Due 2026 | Senior Notes | Debt Instrument, Redemption, Period One        
Debt Instrument [Line Items]        
Debt instrument, redemption price, percentage 100.00%      
Trading days | day 20      
Convertible Senior Notes Due 2026 | Senior Notes | Debt Instrument, Redemption, Period Two        
Debt Instrument [Line Items]        
Debt instrument, redemption price, percentage 130.00%      
Trading days | day 30      
v3.24.0.1
Long-term Debt, Short-term Borrowings and Finance Lease Obligations - Maturities Of Our Debt and Finance Leases (Details)
$ in Millions
Dec. 31, 2023
USD ($)
Debt Disclosure [Abstract]  
2024 $ 301
2025 273
2026 1,017
2027 269
2028 374
Thereafter $ 2,482
v3.24.0.1
Long-term Debt, Short-term Borrowings and Finance Lease Obligations - Net of Debt Acquisition Costs (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Debt Instrument [Line Items]    
Present value of future minimum lease payment $ 0 $ 2
Carrying Value    
Debt Instrument [Line Items]    
Long-term debt 4,716 3,645
Estimated Fair Value    
Debt Instrument [Line Items]    
Long-term debt, fair value 4,691 2,848
Fixed rate specialty bonds, due through 2036 | Carrying Value    
Debt Instrument [Line Items]    
Long-term debt 42 42
Fixed rate specialty bonds, due through 2036 | Estimated Fair Value    
Debt Instrument [Line Items]    
Long-term debt, fair value 43 43
2019-1 Series AA, due through 2032 | Carrying Value    
Debt Instrument [Line Items]    
Long-term debt 476 504
2019-1 Series AA, due through 2032 | Estimated Fair Value    
Debt Instrument [Line Items]    
Long-term debt, fair value 474 345
2019-1 Series A, due through 2028 | Carrying Value    
Debt Instrument [Line Items]    
Long-term debt 149 157
2019-1 Series A, due through 2028 | Estimated Fair Value    
Debt Instrument [Line Items]    
Long-term debt, fair value 150 124
2019-1 Series B, due through 2027 | Carrying Value    
Debt Instrument [Line Items]    
Long-term debt 70 82
2019-1 Series B, due through 2027 | Estimated Fair Value    
Debt Instrument [Line Items]    
Long-term debt, fair value 86 87
2020-1 Series A, due through 2032 | Carrying Value    
Debt Instrument [Line Items]    
Long-term debt 506 546
2020-1 Series A, due through 2032 | Estimated Fair Value    
Debt Instrument [Line Items]    
Long-term debt, fair value 597 457
2020-1 Series B, due through 2028 | Carrying Value    
Debt Instrument [Line Items]    
Long-term debt 117 135
2020-1 Series B, due through 2028 | Estimated Fair Value    
Debt Instrument [Line Items]    
Long-term debt, fair value 150 142
Fixed rate enhanced equipment notes, due through 2023 | Carrying Value    
Debt Instrument [Line Items]    
Long-term debt 0 61
Fixed rate enhanced equipment notes, due through 2023 | Estimated Fair Value    
Debt Instrument [Line Items]    
Long-term debt, fair value 0 60
Fixed rate equipment notes, due through 2028 | Carrying Value    
Debt Instrument [Line Items]    
Long-term debt 322 447
Fixed rate equipment notes, due through 2028 | Estimated Fair Value    
Debt Instrument [Line Items]    
Long-term debt, fair value 305 422
Floating rate equipment notes, due through 2030 | Carrying Value    
Debt Instrument [Line Items]    
Long-term debt 109 56
Floating rate equipment notes, due through 2030 | Estimated Fair Value    
Debt Instrument [Line Items]    
Long-term debt, fair value 113 49
Unsecured CARES Act Payroll Support Program loan, due through 2030 | Carrying Value    
Debt Instrument [Line Items]    
Long-term debt 259 259
Unsecured CARES Act Payroll Support Program loan, due through 2030 | Estimated Fair Value    
Debt Instrument [Line Items]    
Long-term debt, fair value 184 126
Aircraft sale-leaseback transactions, due through 2035 | Carrying Value    
Debt Instrument [Line Items]    
Long-term debt 1,648 341
Aircraft sale-leaseback transactions, due through 2035 | Estimated Fair Value    
Debt Instrument [Line Items]    
Long-term debt, fair value 1,738 329
Unsecured Consolidated Appropriations Act Payroll Support Program Extension loan, due through 2031 | Carrying Value    
Debt Instrument [Line Items]    
Long-term debt 144 144
Unsecured Consolidated Appropriations Act Payroll Support Program Extension loan, due through 2031 | Estimated Fair Value    
Debt Instrument [Line Items]    
Long-term debt, fair value 101 68
Unsecured American Rescue Plan Act of 2021 Payroll Support loan, due through 2031 | Carrying Value    
Debt Instrument [Line Items]    
Long-term debt 132 132
Unsecured American Rescue Plan Act of 2021 Payroll Support loan, due through 2031 | Estimated Fair Value    
Debt Instrument [Line Items]    
Long-term debt, fair value 93 62
0.50% convertible senior notes, due through 2026    
Debt Instrument [Line Items]    
Long-term debt $ 750 750
Debt instrument, interest rate, stated percentage 0.50%  
0.50% convertible senior notes, due through 2026 | Carrying Value    
Debt Instrument [Line Items]    
Long-term debt $ 742 739
0.50% convertible senior notes, due through 2026 | Estimated Fair Value    
Debt Instrument [Line Items]    
Long-term debt, fair value $ 657 $ 534
v3.24.0.1
Long-term Debt, Short-term Borrowings and Finance Lease Obligations - Short Term Debt Borrowings (Details) - USD ($)
Oct. 21, 2022
Dec. 31, 2023
Dec. 31, 2022
Jul. 28, 2022
May 16, 2022
Debt Instrument [Line Items]          
Common Stock, Par or Stated Value Per Share   $ 0.01 $ 0.01    
Spirit          
Debt Instrument [Line Items]          
Common Stock, Par or Stated Value Per Share       $ 0.0001 $ 0.0001
Acquisition price (in dollars per share)       $ 33.50 $ 30.00
Senior Notes | Senior Secured Bridge Facility          
Debt Instrument [Line Items]          
Long-term line of credit   $ 0 $ 0    
Debt instrument, face amount         $ 3,500,000,000
Citibank | Line of Credit | Second Amended And Restated Agreement          
Debt Instrument [Line Items]          
Long-term line of credit   0 0    
Line of credit facility, maximum borrowing capacity $ 600,000,000        
Debt instrument, basis spread on variable rate 1.00%        
Variable rate 0.00%        
Citibank | Line of Credit | Second Amended And Restated Agreement | SOFR          
Debt Instrument [Line Items]          
Debt instrument, basis spread on variable rate 2.00%        
Goldman Sachs Bank USA, Bank of America, N.A. and BofA Securities, Inc | Senior Secured Bridge Facility | Spirit          
Debt Instrument [Line Items]          
Debt instrument, face amount         3,500,000,000
Goldman Sachs Bank USA, Bank of America, N.A. and BofA Securities, Inc | Bridge Facility | Senior Secured Bridge Facility | Spirit          
Debt Instrument [Line Items]          
Debt instrument, face amount   3,000,000,000     $ 3,500,000,000
Revolving Credit Facility and Letter of Credit Facility | Morgan Stanley | Line of Credit          
Debt Instrument [Line Items]          
Line of credit facility, current borrowing capacity   200,000,000      
Long-term line of credit   $ 0 $ 0    
v3.24.0.1
Leases - Lease-Related Assets and Liabilities (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Assets    
Operating lease assets $ 593 $ 660
Finance lease assets $ 0 $ 2
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization
Total lease assets $ 593 $ 662
Current:    
Operating lease liabilities 117 97
Finance lease liabilities $ 0 $ 2
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List] Long-Term Debt and Lease Obligation, Current Long-Term Debt and Lease Obligation, Current
Long-term:    
Operating lease liabilities $ 547 $ 639
Finance lease liabilities $ 0 $ 0
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List] Long-term debt and finance lease obligations Long-term debt and finance lease obligations
Total lease liabilities $ 664 $ 738
Weighted average remaining lease term (in years)    
Operating leases 8 years 9 years
Finance leases   1 year
Weighted average discount rate    
Operating leases 7.05% 6.76%
Finance leases 0.00% 6.09%
v3.24.0.1
Leases - Narrative (Details)
 12 Months Ended
Dec. 31, 2023
USD ($)
aircraft
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Lessee, Lease, Description [Line Items]      
Operating aircraft leases, minimum remaining lease term 1 month    
Operating aircraft leases, maximum remaining lease term 5 years    
Embraer E190 fleet transition | $ $ 0 $ 52,000,000 $ 0
Facility leases, minimum lease term remaining 8 months    
Facility leases, maximum lease term remaining 15 years    
Minimum      
Lessee, Lease, Description [Line Items]      
Renewal lease term 1 year    
Maximum      
Lessee, Lease, Description [Line Items]      
Renewal lease term 2 years    
Aircraft      
Lessee, Lease, Description [Line Items]      
Number of aircraft operated 300    
Number of aircraft accounted for under operating leases 56    
Finance lease, number of aircraft leases 0    
Number of aircraft having purchase options 24    
v3.24.0.1
Leases - Lease Costs (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Leases [Abstract]      
Operating lease cost $ 167 $ 158 $ 165
Short-term lease cost 2 1 1
Interest on lease liabilities 0 0 1
Variable lease cost 614 500 562
Sublease income 20 20 10
Total net lease cost $ 803 $ 679 $ 739
v3.24.0.1
Leases - Other Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Leases [Abstract]      
Operating cash flows for operating leases $ 168 $ 154 $ 160
Operating cash flows for finance leases 0 0 3
Financing cash flows for finance leases $ 2 $ 1 $ 59
v3.24.0.1
Leases - Lease Commitments (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Operating Leases    
2024 $ 160  
2025 115  
2026 90  
2027 86  
2028 73  
Thereafter 365  
Total minimum lease payments 889  
Less: amount of lease payment representing interest (225)  
Present value of future minimum lease payment 664  
Less: current obligations under leases (117) $ (97)
Operating lease liabilities $ 547 $ 639
v3.24.0.1
Stockholders' Equity (Details) - shares
shares in Millions
Dec. 31, 2023
Dec. 31, 2022
Stockholders' Equity Note [Abstract]    
Common stock reserved for issuance (in shares) 6.8  
Treasury stock, shares (in shares) 159.4 159.0
v3.24.0.1
Loss Per Share - Narrative (Details) - shares
shares in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Earnings Per Share [Abstract]      
Antidilutive securities excluded from computation of loss per share, amount (in shares) 2.0 1.8 3.4
v3.24.0.1
Loss Per Share - Computed Basic and Diluted Earnings Per Common Share (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Earnings Per Share [Abstract]      
Net loss $ (310) $ (362) $ (182)
Weighted average basic shares (in shares) 332.9 323.6 318.0
Effect of dilutive securities (in shares) 0.0 0.0 0.0
Weighted average diluted shares 332.9 323.6 318.0
Basic (in dollars per share) $ (0.93) $ (1.12) $ (0.57)
Diluted (in dollars per share) $ (0.93) $ (1.12) $ (0.57)
v3.24.0.1
Share-Based Compensation - Narrative (Details) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
May 16, 2023
May 21, 2015
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2015
May 14, 2020
Jan. 01, 2012
May 31, 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Unrecognized stock-based compensation expense     $ 43            
Number of years expected to recognize stock-based compensation     23 months            
Share-based payment arrangement, expense     $ 39 $ 30 $ 28        
Share-based compensation arrangement by Share-based payment award, number of shares authorized (in shares)             10,500,000    
Share-based compensation arrangement by share-based payment award, number of additional shares authorized (in shares)   7,500,000              
Shares issued following the director's departure from the board     6 months 1 day            
CSPP offering period     6 months            
Outstanding voting securities     50.00%            
Exercise price of purchasing rights as percentage of fair market value per share in case of acquisition     85.00%            
Incentive Compensation Plan Two Thousand Eleven                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Share-based compensation arrangement by Share-based payment award, number of shares authorized (in shares)               15,000,000  
Restricted Stock Unit Activity Under 2020 Plan                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
unvested restricted stock units (in shares)     6,000,000 3,000,000          
Granted (in shares)     5,000,000            
Crewmember Stock Purchase Plan 2011                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Share-based compensation arrangement by Share-based payment award, number of shares authorized (in shares)                 8,000,000
Share-based compensation arrangement by share-based payment award, number of additional shares authorized (in shares)           15,000,000      
Employees contribution towards purchase of common stock     10.00%            
Purchase price discount based upon the stock price     15.00%            
Employee stock purchase plan (ESPP), expense     $ 9 $ 9 $ 9        
Stock issued under crewmember stock purchase plan (in shares)     11,200,000 6,400,000 3,400,000        
Share-based compensation arrangement by share-based payment award, per share weighted average price of shares purchased (in dollars per share)     $ 4.67 $ 8.07 $ 13.93        
JetBlue Airways Corporation 2020 Crewmember Stock Purchase Plan                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Share-based compensation arrangement by Share-based payment award, number of shares authorized (in shares) 27,500,000   17,500,000            
Share-based compensation arrangement by share-based payment award, number of additional shares authorized (in shares) 10,000,000                
Restricted Stock Units (RSUs)                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
unvested restricted stock units (in shares)     7,800,000            
Restricted Stock Units (RSUs) | Restricted Stock Unit Activity Under 2020 Plan                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Share-based compensation aggregate intrinsic value, vested     $ 8            
Deferred Stock Units (DSU's)                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Minimum vesting period     1 year            
Maximum vesting period     3 years            
Performance Shares                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Granted (in shares)     1,800,000 0          
v3.24.0.1
Share-Based Compensation - RSU Activity (Details) - Restricted Stock Unit Activity Under 2020 Plan
shares in Millions
 12 Months Ended
Dec. 31, 2023
$ / shares
shares
Shares  
Nonvested at beginning of year (in shares) | shares 3.0
Granted (in shares) | shares 5.0
Vested (in shares) | shares (2.0)
Forfeited (in shares) | shares 0.0
Nonvested at end of year (in shares) | shares 6.0
Weighted Average Grant Date Fair Value  
Nonvested at beginning of year (in dollars per share) | $ / shares $ 13.97
Granted (in dollars per share) | $ / shares 7.48
Vested (in dollars per share) | $ / shares 14.56
Forfeited (in dollars per share) | $ / shares 10.81
Nonvested at end of year (in dollars per share) | $ / shares $ 8.90
v3.24.0.1
Income Taxes - Income Tax Expense (Benefit) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Deferred:      
Federal $ 43 $ 86 $ 44
State 6 (13) 44
Foreign (22) 0 0
Deferred income tax benefit 27 73 88
Current:      
Federal 1 3 (3)
State 1 0 (5)
Foreign (5) (1) 1
Current income tax benefit (expense) (3) 2 (7)
Total income tax benefit $ 24 $ 75 $ 81
v3.24.0.1
Income Taxes - Narrative (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]    
Foreign tax credit $ 90 $ 78
Valuation allowance 153 $ 90
Operating loss carryforwards, valuation allowance 93  
Capital loss carryforward 19  
Foreign tax credit 41  
Unrecognized tax benefits that would impact effective tax rate $ 8  
v3.24.0.1
Income Taxes - Effective Tax Rate On Income Before Income Taxes (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Income Tax Disclosure [Abstract]      
Income tax benefit at statutory rate $ 70 $ 92 $ 55
State income tax, net of federal benefit 7 (13) 36
Nondeductible expenses (14) (8) (5)
Foreign rate differential 0 (4) 5
Valuation allowance (49) 2 (4)
Unrecognized tax benefit (expense) 0 3 (7)
Research & Development tax credits 11 0 0
Other, net (1) 3 1
Total income tax benefit $ 24 $ 75 $ 81
v3.24.0.1
Income Taxes - Components Of Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Deferred tax assets:    
Deferred revenue/gains $ 220 $ 271
Employee benefits 95 72
Foreign tax credit 90 78
Other credits 15 4
Net operating loss carryforward 914 709
Interest expense limitation carryforward 50 29
Operating lease liabilities 161 194
Rent expense 18 84
Transaction costs 25 13
Sec. 174 research activities 27 16
Other 16 20
Total deferred tax assets 1,631 1,490
Valuation allowance (153) (90)
Deferred tax assets, net 1,478 1,400
Deferred tax liabilities:    
Property and equipment (2,049) (1,963)
Operating lease assets (143) (173)
Other (29) (34)
Total deferred tax liabilities (2,221) (2,170)
Net deferred tax liability $ (743) $ (770)
v3.24.0.1
Income Taxes - NOL Carryforward (Details)
$ in Millions
Dec. 31, 2023
USD ($)
Operating Loss Carryforwards [Line Items]  
NOL carryforwards $ 914
Federal  
Operating Loss Carryforwards [Line Items]  
NOL carryforwards 671
State  
Operating Loss Carryforwards [Line Items]  
NOL carryforwards 132
Foreign  
Operating Loss Carryforwards [Line Items]  
NOL carryforwards $ 111
v3.24.0.1
Income Taxes - Unrecognized Tax Benefits (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]      
Unrecognized tax benefits, beginning balance $ 26 $ 40 $ 32
Increases for tax positions taken during the period 0 5 2
Decreases for tax positions taken during the period (5) (6) (1)
Increases for tax positions taken during a prior period 5 0 19
Decreases for tax positions taken during a prior period (1) (13) (12)
Unrecognized tax benefits, ending balance $ 25 $ 26 $ 40
v3.24.0.1
Crewmember Retirement Plan (Details) - USD ($)
$ in Millions
 1 Months Ended 12 Months Ended
Jan. 01, 2021
Jan. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]          
Percentage of compensation in cash     100.00%    
Percentage of employees' pay     5.00%    
Years of service     3 years    
Percentage of company contribution to pilots retirement program 16.00%        
Pilots retirement vesting period     3 years    
Percentage of eligible pre-tax profits the company contributes to profit sharing until the pre-tax margin is 18%     10.00%    
Profit sharing calculation trigger, pretax margin     18.00%    
Percentage of eligible pre-tax profits the company contributes to profit sharing when pre-tax margin is above 18%     20.00%    
Defined contribution plan, cost     $ 271 $ 249 $ 213
Retirement Plus          
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]          
Percentage of employees' pay     5.00%    
Years of service     3 years    
Retirement Advantage          
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]          
Percentage of employees' pay     3.00%    
Subsequent Event | Retirement Non-elective Crewmember          
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]          
Percentage of employees' pay   5.00%      
Years of service   3 years      
Percentage of increase in pay   5.00%      
Subsequent Event | Retirement Non-elective Licensed          
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]          
Percentage of employees' pay   8.00%      
Years of service   3 years      
v3.24.0.1
Commitments - Flight Equipment Commitments (Details)
$ in Millions
Dec. 31, 2023
USD ($)
aircraft
Unrecorded Unconditional Purchase Obligation [Line Items]  
2024 | $ $ 1,235
2025 | $ 1,169
2026 | $ 1,145
2027 | $ 1,015
2028 | $ 1,504
Thereafter | $ 1,137
Total | $ $ 7,205
Number of aircraft rescheduled 41
2024 27
2025 25
2026 24
2027 14
Thereafter 41
Total 131
Airbus A220  
Unrecorded Unconditional Purchase Obligation [Line Items]  
2024 20
2025 20
2026 20
2027 5
Thereafter 11
Total 76
Number of available aircraft 20
Airbus A321neo  
Unrecorded Unconditional Purchase Obligation [Line Items]  
2024 7
2025 5
2026 4
2027 9
Thereafter 30
Total 55
v3.24.0.1
Commitments - Narrative (Details)
gallon in Millions, $ in Millions
 1 Months Ended 3 Months Ended 12 Months Ended
Jan. 31, 2023
USD ($)
Apr. 30, 2022
USD ($)
gallon
Dec. 31, 2021
Sep. 30, 2023
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2023
USD ($)
term
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
May 01, 2022
Unrecorded Unconditional Purchase Obligation [Line Items]                  
Restricted assets pledged related to workers compensation insurance policies and other business partner agreements           $ 31      
Number of renewal terms, option one | term           1      
Lease renewal term, one           10 years      
Number of renewal terms, option two | term           2      
Lease renewal term, two           5 years      
2024           $ 5      
2025           5      
2026           5      
Over the remainder of the term           $ 71      
Commitment, sustainable aviation fuel, gallon | gallon   125              
Commitment terms   10 years              
Ratification bonus         $ 8        
Percentage of employees represented by unions under collective bargaining agreements           51.00%      
Percentage of employees represented by unions under collective bargaining agreements, will become amendable within one year           22.00%      
Employment agreement term of TWU     5 years            
One-time bonus payment $ 95                
Contract extension period 2 years                
Union contract costs       $ 8   $ 105 $ 33 $ 8  
Employment agreement           5 years      
Employment agreement automatic renewal term           5 years      
Renewal notice period           90 days      
Airbus A220                  
Unrecorded Unconditional Purchase Obligation [Line Items]                  
One-time bonus payment   $ 32              
Base pay increase                 3.00%
v3.24.0.1
Contingencies (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2023
USD ($)
Feb. 28, 2023
lawsuit
Dec. 31, 2022
USD ($)
lawsuit
Commitments and Contingencies Disclosure [Abstract]      
Maximum period of limit for loan repayment 15 years    
Maximum period of limit for repayment regarding leases with foreign lenders 25 years    
Maximum period of contract range of specified parties related to legal liability 25 years    
Asset retirement obligations, noncurrent | $ $ 15   $ 6
Number of putative class action lawsuits | lawsuit   4 4
v3.24.0.1
Financial Derivative Instruments and Risk Management - Hedged Percentages Of Our Projected Fuel (Details)
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Fuel | Call Option        
Derivatives, Fair Value [Line Items]        
First Quarter 2024 5.00% 3.00% 16.00% 30.00%
v3.24.0.1
Financial Derivative Instruments and Risk Management - Fuel Derivatives (Details) - Aircraft Fuel Derivatives - Fuel
$ in Millions
 12 Months Ended
Dec. 31, 2023
USD ($)
MBoe
Dec. 31, 2022
USD ($)
MBoe
Derivative [Line Items]    
Asset fair value recorded in prepaid expenses and other current assets $ 4 $ 3
Longest remaining term (months) 3 months 3 months
Hedged volume (barrels, in thousands) | MBoe 2,706 450
Estimated amount of existing gains (losses) expected to be reclassified into earnings in the next 12 months $ (3) $ 2
v3.24.0.1
Financial Derivative Instruments and Risk Management - Hedging Effectiveness (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Fuel Costs    
Aircraft Fuel Derivatives      
Derivative Instruments, Gain (Loss) [Line Items]      
Hedge effectiveness gains (losses) recognized in aircraft fuel expense $ 7 $ (7) $ 0
Percentage of actual consumption economically hedged 25.00% 7.00% 0.00%
Aircraft Fuel Derivatives | Comprehensive Income      
Derivative Instruments, Gain (Loss) [Line Items]      
Hedge gains (losses) on derivatives recognized in comprehensive income $ 1 $ (3) $ 0
v3.24.0.1
Financial Derivative Instruments and Risk Management - Narrative (Details) - USD ($)
Dec. 31, 2023
Dec. 31, 2022
Aircraft Fuel Derivatives    
Derivative [Line Items]    
Offsetting derivative instruments $ 0 $ 0
v3.24.0.1
Fair Value - Fair Value Hierarchy (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Assets    
Available-for-sale investment securities $ 330 $ 337
Fair Value, Recurring    
Assets    
Cash equivalents 724 665
Available-for-sale investment securities 330 337
Equity investment securities   8
Aircraft fuel derivatives 4 3
Fair Value, Recurring | Level 1    
Assets    
Cash equivalents 724 665
Available-for-sale investment securities 0 0
Equity investment securities 0 8
Aircraft fuel derivatives 0 0
Fair Value, Recurring | Level 2    
Assets    
Cash equivalents 0 0
Available-for-sale investment securities 314 324
Equity investment securities   0
Aircraft fuel derivatives 4 3
Fair Value, Recurring | Level 3    
Assets    
Cash equivalents 0 0
Available-for-sale investment securities 16 13
Equity investment securities   0
Aircraft fuel derivatives $ 0 $ 0
v3.24.0.1
Fair Value - Held to Maturity Investment Securities (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Carrying Value    
Schedule of Held-to-Maturity Securities [Line Items]    
Held-to-maturity investment securities $ 234 $ 177
Estimated Fair Value    
Schedule of Held-to-Maturity Securities [Line Items]    
Held-to-maturity investment securities $ 231 $ 170
v3.24.0.1
Investments - Narrative (Details) - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Debt and Equity Securities, FV-NI [Line Items]      
Change in fair value $ 2,000,000 $ (4,000,000) $ 0
Equity method investments 43,000,000 38,000,000  
Debt securities, realized gain (loss) 1,000,000 0 0
Unrealized gain (loss) 0 5,000,000 2,000,000
Debt securities, net unrealized gain (loss) 2,000,000 (12,000,000) (10,000,000)
Realized gain on equity investment securities 4,000,000 1,000,000 0
Cost method investments - jetblue tech ventures 96,000,000 83,000,000  
Recognized gain (loss) on investment 2,000,000 (2,000,000) 37,000,000
Cost method investments TWA flight center hotel $ 14,000,000 14,000,000  
TWA Flight Center Hotel      
Debt and Equity Securities, FV-NI [Line Items]      
Ownership percentage, noncontrolling interest 10.00%    
Recurring      
Debt and Equity Securities, FV-NI [Line Items]      
Equity investment securities   8,000,000  
Level 1 | Recurring      
Debt and Equity Securities, FV-NI [Line Items]      
Equity investment securities $ 0 8,000,000  
Available-for-sale securities      
Debt and Equity Securities, FV-NI [Line Items]      
Change in fair value $ 1,000,000 $ (1,000,000) $ 0
v3.24.0.1
Investments - Short-Term and Long-Term Investment Securities (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Investment securities    
Available-for-sale investment securities $ 330 $ 337
Held-to-maturity investment securities 234 177
Total investments in debt securities 564 514
Time deposits    
Investment securities    
Available-for-sale investment securities 290 285
Commercial paper    
Investment securities    
Available-for-sale investment securities 24 39
Debt securities    
Investment securities    
Available-for-sale investment securities 16 13
Corporate bonds    
Investment securities    
Held-to-maturity investment securities $ 234 $ 177
v3.24.0.1
Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Accumulated other comprehensive income (loss), net of taxes      
Beginning balance $ 3,563 $ 3,849 $ 3,951
Reclassifications into earnings, net of tax (6) 4 0
Change in fair value 2 (4) 0
Ending balance 3,337 3,563 3,849
Reclassifications into earnings, tax 2 (3) 0
Change in fair value, tax 0 2 0
Accumulated Other Comprehensive Income (Loss)      
Accumulated other comprehensive income (loss), net of taxes      
Beginning balance 0 0 0
Ending balance (4) 0 0
Aircraft Fuel Derivatives      
Accumulated other comprehensive income (loss), net of taxes      
Beginning balance 1 0 0
Reclassifications into earnings, net of tax (5) 4 0
Change in fair value 1 (3) 0
Ending balance (3) 1 0
Available-for-sale securities      
Accumulated other comprehensive income (loss), net of taxes      
Beginning balance (1) 0 0
Reclassifications into earnings, net of tax (1) 0 0
Change in fair value 1 (1) 0
Ending balance $ (1) $ (1) $ 0
v3.24.0.1
Geographic Information (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2023
USD ($)
destination
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Segment Reporting Information [Line Items]      
Number of destinations | destination 36    
Summarization of operating revenues by geographic regions      
Total operating revenue | $ $ 9,615 $ 9,158 $ 6,037
Europe      
Segment Reporting Information [Line Items]      
Number of destinations | destination 3    
Puerto Rico      
Segment Reporting Information [Line Items]      
Number of destinations | destination 3    
U.S Virgin Islands      
Segment Reporting Information [Line Items]      
Number of destinations | destination 1    
Domestic & Canada      
Summarization of operating revenues by geographic regions      
Total operating revenue | $ $ 6,072 6,067 3,869
Caribbean & Latin America      
Summarization of operating revenues by geographic regions      
Total operating revenue | $ 3,282 2,968 2,150
Atlantic      
Summarization of operating revenues by geographic regions      
Total operating revenue | $ $ 261 $ 123 $ 18
v3.24.0.1
Special Items (Details) - USD ($)
 3 Months Ended 12 Months Ended
Sep. 30, 2023
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Unusual or Infrequent Items, or Both [Abstract]        
Union contract costs $ 8,000,000 $ 105,000,000 $ 33,000,000 $ 8,000,000
Spirit costs   92,000,000 28,000,000 0
Embraer E190 fleet transition   0 52,000,000 0
Federal payroll support grant recognition   0 0 (830,000,000)
CARES Act employee retention credit   0 0 (11,000,000)
Total   $ 197,000,000 $ 113,000,000 $ (833,000,000)
v3.24.0.1
Entry into Merger Agreement with Spirit (Details) - USD ($)
 12 Months Ended 17 Months Ended
Jul. 28, 2022
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2023
May 16, 2022
Business Combination, Separately Recognized Transactions [Line Items]            
Common stock, par value (in dollars per share)   $ 0.01 $ 0.01   $ 0.01  
Payment for Spirit Airlines acquisition   $ 131,000,000 $ 297,000,000 $ 0    
Goldman Sachs Bank USA, Bank of America, N.A. and BofA Securities, Inc | Bridge Facility | Senior Secured Bridge Facility            
Business Combination, Separately Recognized Transactions [Line Items]            
Debt instrument, face amount           $ 3,500,000,000
Spirit            
Business Combination, Separately Recognized Transactions [Line Items]            
Common stock, par value (in dollars per share) $ 0.0001         $ 0.0001
Acquisition price (in dollars per share) 33.50         $ 30.00
Business acquisition amount equal to extent paid (in dollars per share) 2.50          
Payment of ticking fee, per share (in dollars per share) $ 0.10          
Additional prepayment period 5 days          
Payment for Spirit Airlines acquisition   $ 131,000,000     $ 403,000,000  
Frontier transaction costs         $ 25,000,000  
Spirit | Minimum            
Business Combination, Separately Recognized Transactions [Line Items]            
Business acquisition amount equal to extent paid (in dollars per share) $ 1.15          
v3.24.0.1
Schedule II - Valuation and Qualifying Accounts (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Valuation and Qualifying Accounts      
Balance at beginning of period $ 123 $ 100 $ 98
Additions Charged to Costs and Expenses 94 51 37
Deductions 26 28 35
Balance at end of period 191 123 100
Valuation allowance for deferred tax assets      
Valuation and Qualifying Accounts      
Balance at beginning of period 90 73 69
Additions Charged to Costs and Expenses 69 30 19
Deductions 6 13 15
Balance at end of period 153 90 73
Allowance for obsolete inventory parts      
Valuation and Qualifying Accounts      
Balance at beginning of period 29 24 27
Additions Charged to Costs and Expenses 6 5 4
Deductions 0 0 7
Balance at end of period 35 29 24
Allowance for doubtful accounts      
Valuation and Qualifying Accounts      
Balance at beginning of period 4 3 2
Additions Charged to Costs and Expenses 19 16 14
Deductions 20 15 13
Balance at end of period $ 3 $ 4 $ 3