JetBlue Airways (JBLU) earnings Q4 2023

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JetBlue planes at JFK’s Terminal 5 in New York.

Leslie Josephs/CNBC

JetBlue Airways swung to a loss in the fourth quarter and forecast lower capacity this year as it scrambles to return to profitability.

The New York-based airline reported a net loss of $104 million in the last three months of 2023, compared with a $24 million profit a year earlier. On a per share basis, JetBlue lost 31 cents during the fourth quarter, compared with a 7-cent profit during the year-earlier period.

JetBlue said it expects 2024 capacity to be down in the low single digits and that its adjusted margins could approach breakeven.

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