JETBLUE AIRWAYS CORP

Our material cash requirements for known contractual and other obligations as of December 31, 2025 includes the following (in millions):

The amounts stated above do not include additional obligations incurred as a result of financing activities executed after December 31, 2025, except as otherwise noted.

(1)The interest rates are fixedfor $6.6 billion of our debt and finance lease obligations, with the remaining $1.9 billion having floating interest rates. The estimated floating rate is equal to SOFR plus an applicable margin based on December 31, 2025 rates. The weighted average maturity of all of our debt was 6 years as of December 31, 2025.

(2)Committed expenditures for our firm aircraft and spare engines include estimated amounts for contractual price escalations and pre-delivery deposits. We expect to meet our pre-delivery deposit requirements for our aircraft by paying cash or by using short-term borrowing facilities for deposits generally required six to 24 months prior to delivery. Any pre-delivery deposits paid by the issuance of notes are fully repaid at the time of delivery of the related aircraft.

Flight equipment purchase obligations include obligations for one Airbus A321neo XLR variant aircraft that has been contracted to sell following delivery of the aircraft. The aircraft is anticipated to deliver in the second quarter of 2026.

(3)Amounts primarily include non-cancelable commitments for flight equipment maintenance, construction and information technology.

Debt and Finance Lease Obligations

As of December 31, 2025, we were in compliance with the material covenants of our debt and lease agreements.

In August 2024, JetBlue co-issued with JetBlue Loyalty, LP, the TrueBlue® Notes and TrueBlue® Term Loan Facility. The agreements governing the TrueBlue® Notes and TrueBlue® Term Loan Facility contain affirmative, negative and financial covenants including compliance with certain debt service coverage ratios and minimum liquidity requirements. These agreements also contain events of default, including a cross-default to other material indebtedness.

We have $60 million of restricted cash pledged under standby letters of credit related to certain leases that will expire at the end of the related lease terms. Approximately 61% of our owned property and equipment and intangible assets at net book value were pledged or committed to be pledged as security under various loan agreements.

Operating Lease Obligations

As of December 31, 2025, we had operating lease obligations for 10 aircraft with lease terms that expire between 2027 and 2028. Our aircraft lease agreements contain termination provisions which include standard maintenance and return conditions. Our policy is to record these lease return conditions when they are probable and the costs can be estimated. As of December 31, 2025, the average age of our operating fleet was 12 years. We also lease airport terminal space and other airport facilities in each of our markets, as well as office space and other equipment.

We have a lease agreement with the PANYNJ for terminal 5 through November 2042 with the option to terminate the agreement in 2033. In November 2022, we amended the lease to relinquish a portion of the former Terminal 6 property to allow for development of a new Terminal 6 by our development partners, JFK Millennium Partners ("JMP") through a $65 million letter of credit in exchange for 5% ownership. This amount is included in restricted cash on the consolidated balance sheets as of December 31, 2025. In 2025 we reassessed the lease term and concluded that we intend to utilize the facility through 2042 rather than exercise the early termination option in 2033. As a result, we adjusted the related right-of-use asset and corresponding lease liability to reflect the 2042 end date. Minimum ground and facility rents at JFK totaling $1.2 billion are included in the commitments table above as operating lease obligations.

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. The total committed expenditure for the lease through 2039 is approximately $76 million.

Flight Equipment Purchase Obligations

Our firm aircraft orders include the following aircraft(1):

(1)Our committed future aircraft deliveries are subject to change based on modifications to the contractual agreements or changes in the delivery schedules.

(2)In addition, we have options to purchase 20 A220-300 aircraft in 2027 and 2028.

(3) Includes one Airbus A321neo XLR variant aircraft which has been contracted to sell following delivery of the aircraft. The aircraft is anticipated to deliver in the second quarter of 2026.

Depending on market conditions, we may use a mix of cash and debt financing for aircraft scheduled for delivery in future years. Although we believe debt and/or lease financing should be available to us, we cannot give any assurance that we will be able to secure financing on attractive terms, if at all. To the extent we cannot secure financing on terms we deem attractive, we may be required to pay in cash, further modify our aircraft acquisition plans, or incur higher than anticipated financing costs.