JetBlue Airways JBLU incurred a fourth-quarter 2020 loss (excluding 19 cents from non-recurring items) of $1.53 per share, comparing favorably with the Zacks Consensus Estimate of a loss of $1.72. Results were hurt by the coronavirus-induced weakness in air-travel demand. However, sentiments were bullish in the year-ago period when the company delivered earnings of 56 cents per share owing to strong air-travel demand.Moreover, operating revenues of $661 million plunged 67.4% year over year due to the 68.9% decrease in passenger revenues, which accounted for bulk (91.7%) of the top line. Revenues from other sources declined 33.8% to $55 million. The top line, however, surpassed the Zacks Consensus Estimate of $617.8 million.JetBlue Airways Corporation Price, Consensus and EPS Surprise JetBlue Airways Corporation price-consensus-eps-surprise-chart | JetBlue Airways Corporation QuoteOther DetailsRevenue per available seat mile (RASM: a key measure of unit revenues) in the reported quarter dropped 38.3% to 7.80 cents. Passenger revenue per available seat mile (PRASM) fell 41% to 7.15 cents. Average fare at JetBlue during the quarter dipped 2.9% to $180.54. Yield per passenger mile dropped 7.8% year over year to 13.63 cents.Capacity, measured in available seat miles, contracted 47.3% year over year. Traffic, measured in revenue passenger miles, plunged 66.2% due to softness in air-travel demand. Load factor (percentage of seats filled by passengers) slumped to 52.4% from 81.9% a year ago as traffic decline was more than the capacity reduction in the reported quarter.In the fourth quarter, total operating expenses (on a reported basis) decreased 38.2% year over year, mainly owing to a 70.5% fall in aircraft fuel and related taxes. With major part of the fleet remaining grounded/under-utilized, fuel gallons consumed tanked 53.2% to 102 million.Average fuel cost per gallon (including fuel taxes) declined 36.9% year over year to $1.31. JetBlue’s operating expenses per available seat mile (CASM) rose 17.2% to 13.16 cents due to capacity cuts. Excluding fuel, the metric escalated 48.2% to 12.31 cents.JetBlue, currently carrying a Zacks Rank #3 (Hold), exited the fourth quarter with cash and cash equivalents of $1,918 million compared with $959 million at the end of 2019. Total debt at the end of the reported quarter was $4,863 million compared with $2,334 million at 2019 end.The carrier exited the final quarter of 2020 with approximately $3.1 billion in unrestricted cash, cash equivalents and short-term investments. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Moreover, cash burn came in at $6.7 million per day, on average, during the fourth quarter. The average daily cash burn was toward the lower end of the $6-$8 million range predicted in early December.Q1 OutlookRevenues for the first quarter of 2021 are expected to decline in the 65-70% range from the first-quarter 2019 actuals. Capacity is anticipated to contract at least 40% in the March quarter from the figure reported in the first quarter of 2019. Operating expenses are expected to be roughly 25% down from the recorded first-quarter 2019 levels. Average fuel cost per gallon in the March quarter is estimated to be $1.61. EBITDA is expected in the range of a negative $525-$625 million.How Other Airlines FaredLet’s take a look at some of the other recently released earnings reports from companies within the Zacks Airline industry.United Airlines UAL incurred a loss (excluding 6 cents from non-recurring items) of $7 per share in the fourth quarter of 2020, wider than the Zacks Consensus Estimate of a loss of $6.56. Also, operating revenues of $3,412 million lagged the Zacks Consensus Estimate of $3,420.4 million.Delta Air Lines DAL incurred a loss (excluding $1.34 from non-recurring items) of $2.53 per share in the fourth quarter of 2020, wider than the Zacks Consensus Estimate of a loss of $2.43. However, total revenues of $3,973 million topped the Zacks Consensus Estimate of $3,754.5 million.Southwest Airlines LUV incurred a loss of $1.29 per share (excluding 25 cents from non-recurring items) in the fourth quarter of 2020, narrower than the Zacks Consensus Estimate of a loss of $1.69. However, in the year-ago period, the company delivered earnings of 98 cents per share.The Hottest Tech Mega-Trend of AllLast year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.See Zacks' 3 Best Stocks to Play This Trend >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Southwest Airlines Co. (LUV): Free Stock Analysis Report JetBlue Airways Corporation (JBLU): Free Stock Analysis Report Delta Air Lines, Inc. (DAL): Free Stock Analysis Report United Airlines Holdings Inc (UAL): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research