Economic uncertainty is weighing on flight demand for JetBlue, which is moving to reduce costs.
JetBlue shares fell 3% in afternoon trading and have lost more than 42% this year.
JetBlue Airways (JBLU) CEO Joanna Geraghty wrote in a memo that the struggling carrier will be further cutting unprofitable routes among other cost-cutting measures amid weak travel demand, a report said.
JetBlue Airways is reducing flights, evaluating routes and cutting budgets amid weak consumer demand, CEO Joanna Geraghty told staff in an internal note.
JetBlue Airways CEO Joanna Geraghty told staff that the carrier is implementing a host of new cost cuts as softer-than-expected travel demand is making break-even operating margins this year unlikely.
The expansion aims to enhance the customer experience with personalized insider service from localities, strengthening JBLU's position as a major tourism partner of Puerto Rico.
The latest move is expected to boost JetBlue's competitive position in the airline industry.
Scott Kirby also said “Newark is safe” in the wake of outages and cancellations that have snarled air travel for the past several weeks, while speaking at WSJ's Future of Everything festival.
JetBlue (JBLU) reported earnings 30 days ago. What's next for the stock?
JetBlue Airways (JBLU) and United Airlines (UAL) on Thursday announced a new collaboration called "Blue Sky" that will allow for reciprocal loyalty program benefits like priority boarding and complimentary access to preferred seats.
Airline partnerships can be beneficial if done correctly, particularly for the smaller party in the arrangement. Speculation about one in the works has benefited the shares of veteran carrier JetBlue (JBLU 0.57%) across the past few trading sessions despite the company reporting a loss-making quarter on Wednesday.
A plan by JetBlue Airways to sign a domestic partnership with another airline faces opposition from its pilot union, which has warned the move could "fundamentally reshape" the U.S. carrier and impact the future of its workers.