Chief Financial Officer, Jetblue Airways
Search every verified Ursula Hurley interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Ursula Hurley, Chief Financial Officer of JetBlue Airways, stated that the airline's primary focus is completing its merger with Spirit Airlines, which she described as "transformational for the industry" and a means to create a "truly national low-fare, high-quality airline." She noted that JetBlue has contingency plans for both outcomes of the merger, and that the biggest obstacle to its organic growth plan is delivery delays from supply chain problems and engine shortages. Hurley also said that pilot salaries are set to rise by 35 to 40 percent, which she called "insane and not sustainable," and that the airline has committed to delivering $150 to $200 million in structural cost savings by the end of 2024. Hurley emphasized the importance of liquidity and conservative financial decision-making for the airline. She identified resiliency as the key skill for CFOs over the next decade, citing the need to manage industry volatility and inspire teams. She also advised new CFOs to build an exceptional team, dive into business details, and manage stakeholders effectively. In earlier remarks, Hurley discussed asset management, stating that assets include crew members and that productivity and process improvements are critical to margin growth and asset strength.
“Our number one priority right now is to get the Spirit merger done. We think it's transformational for the industry and will create a truly national low-fare, high-quality airline to challenge the big four.”
“We have fantastic teams building plans for both scenarios—whether the Spirit merger happens or not. If it doesn't, we have opportunities to continue implementing our organic growth plan to bring the JetBlue experience to more customers.”
“The biggest inhibitor to our organic growth plan right now is the delivery delays caused by supply chain problems and engine shortages, with some airplanes on the ground today without engines due to lack of supply.”
“Pilot salaries are about to soar by 35 to 40 percent, which is insane and not sustainable in my opinion. The pilot shortage is a serious issue, and while hiring is not the problem, retaining pilots is.”
“We've committed to deliver $150 to $200 million in structural cost savings by the end of 2024. As a CFO, you can't do it all alone; it's a team effort to bring the whole organization together to manage costs in this inflationary environment.”
“Liquidity is the lifeblood of an airline. We make very conservative decisions about when and how we raise funding, diversifying our sources and building flexibility into financing structures to optimize the rates we pay.”
“JetBlue Spirit combination will put us at between 8 to 9 percent market share, still less than half the size of the big four, but it's not sustainable to have four big players at 20 percent each and everyone else sharing 20 percent of the market.”
“The biggest challenge over the next 10 years is managing the volatility of the industry. We need agility and resiliency to power through curveballs and deliver for our customers, crew members, and shareholders.”
“One skill every CFO will need over the next 10 years is resiliency. You need to be able to power through challenges, identify opportunities, inspire people, and bring them along to be successful.”
“You have to have an exceptional team around you, dive into the details, understand the analytics and drivers of the business to push back and create more value, and manage your stakeholders effectively—whether shareholders, board, customers, or crew members.”
“JetBlue's assets consist of aircraft, engines, ground equipment, cash and most importantly our crew members; without the help of our crew members our assets wouldn't be able to make any money.”
“Assets strength reflects and provides flexibility in meeting debt obligations, taking advantage of opportunities and weathering weak economic conditions.”
“We are measured and expected by our shareholders to generate a return on investment for each and every one of our assets.”
“The biggest factor in asset utilization is productivity; for example, how many hours a day do we fly our aircraft or how quickly can we turn an aircraft.”
“Process improvements will increase utilization and in turn margin growth and asset strength.”
Chief Financial Officers now play a critical role in shaping corporate strategy and positioning organizations to meet future ...
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