JetBlue sees Q4 RASM down 4% to flat, CASM ex up 3%-5% y/y

Expecting healthy peaks and robust demand for premium products, says booking curve normalizing towards historical trends. Expecting a continuation of strong co-brand acquisition as Blue Sky progresses. Says newly announced and implemented Fort Lauderdale capacity in early stages of ramp. Says initial 2026 planning assumptions include low-to-mid-single digit capacity growth and low-single digit CASM ex-Fuel growth. Plans to grow capacity through aircraft deliveries, as well as the return of a sizeable number of parked aircraft to service, supporting capital light growth. Beginning in 2026, capex is expected to decline through the end of the decade – and trend at, or below, $1B dollars annually – as JetForward ramps. Sees Q4 ASMs down 0.75% to up 2.25%. Sees Q4 CASM ex-fuel up 3%-5% y/y. Sees Q4 CapEx $300M.