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17.06.25 - 19:24
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JetBlue Cuts Flights, Parks Some Jets As Weak Travel Demand Deepens Profit Woes (ZeroHedge)
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JetBlue Cuts Flights, Parks Some Jets As Weak Travel Demand Deepens Profit Woes
JetBlue Airways CEO Joanna Geraghty told employees in an internal memo obtained by CNBC that the airline is implementing new cost-cutting measures as softer-than-expected travel demand makes achieving break-even margins increasingly unlikely this year.
"We're hopeful demand and bookings will rebound, but even a recovery won't fully offset the ground we've lost this year and our path back to profitability will take longer than we'd hoped. That means we're still relying on borrowed cash to keep the airline running," Geraghty told staff in a letter dated Monday.
Some of those cost-cutting actions include:
Further flight reductions
Halting aircraft retrofits
Parking some Airbus jets
Restructuring and downsizing parts of the leadership team for efficiency
Last year, the proposed merger between JetBlue and Spirit Airlines terminated after a federal judge blocked the deal due to ...
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04.12.24 - 16:17
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JetBlue expects smaller annual revenue drop, shares rise (Reuters EN)
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BUZZ-JetBlue expects smaller annual revenue drop, shares rise Updates ** JetBlue Airways' JBLU.O shares rise 12 .2% to $6.80 in morning tradi ng ** Carrier now expects 2024 revenue to drop between 3.5% and 4.5% , versus its prior outlook of a 4% to 5% fall ** JBLU also expects Q4 revenue to drop between 2% and 5% compared with a 3% to 7% decline it...
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04.12.24 - 16:17
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JetBlue forecasts smaller 2024 revenue dip as domestic travel demand picks up (Reuters EN)
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UPDATE 1-JetBlue forecasts smaller 2024 revenue dip as domestic travel demand picks up Updates with the latest share move Dec 4 (Reuters) - JetBlue Airways JBLU.O said on Wednesday it expects a smaller-than-expected drop in its 2024 revenue as domestic travel demand rebounded following the U.S. presidential election. Shares of the carrier were up as much as 10% in morning trading....
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