JetBlue shares closed up +8.21% on February 2, 2026, benefiting from a sector-wide rally driven by a significant retreat in oil prices, easing cost pressures for the airline industry.
- The decline in costs was triggered by easing US-Iran tensions, causing West Texas Intermediate crude futures to fall more than 5%.
- The cost tailwind boosted confidence in the company's 'Jet Forward' strategy, which targets breakeven or better operating margins in 2026.
- The strategy also includes a planned reduction in capital spending of $3 billion between 2026 and 2029.