JetBlue Airways Corporation (NASDAQ: JBLU) updated its first quarter 2026 financial guidance, citing weather-related operational disruptions and rising fuel costs that offset stronger-than-expected travel demand.

The airline experienced two major winter weather events in January and February that reduced year-over-year capacity by approximately 3.5 percentage points versus initial expectations. These disruptions increased year-over-year cost per available seat mile excluding fuel by a similar amount.

JetBlue now expects available seat miles to decline 2.0% to 1.0% year-over-year for the first quarter, compared to previous guidance of a 0.5% to 3.5% increase. Operating revenue per available seat mile is projected to rise 5.0% to 7.0% year-over-year, up from the prior range of 0.0% to 4.0%.

Cost per available seat mile excluding fuel is expected to increase 6.5% to 7.5% year-over-year, higher than the previous guidance of 3.5% to 5.5%. Fuel price per gallon guidance was revised to $3.01 to $3.06, significantly above the prior range of $2.27 to $2.42.

The weather events resulted in approximately a two-point benefit to first quarter unit revenue. The company said demand strengthened across both peak and non-peak periods throughout its network, with improvements in both premium and core cabin segments.

Capital expenditures for the quarter are expected to be approximately $175 million, down from the previous estimate of $200 million. The first quarter ends March 31, 2026.