JetBlue Airways Corp. is implementing new cost-cutting measures amid soft travel demand, according to Benzinga. CEO Joanna Geraghty told employees the company likely won’t reach break-even margins this year. Geraghty said bookings may improve, but even a rebound won’t offset the losses already incurred. The airliner is relying on borrowed funds to stay operational, delaying its timeline to profitability. JetBlue will cut off-peak flights, park older jets, delay some upgrades, review hiring, and reduce staff travel to cut costs. JetBlue has been trying to raise revenue and reduce costs after losing its Spirit merger and American Airlines partnership, with no annual profit since 2019.
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00:02JetBlue Airways is building new cost-cutting measures amid soft travel demand, according to Benzinga.
00:08CEO Joanna Garrity told employees the company likely won't reach break-even margins this year.
00:13Garrity said bookings may improve, but even a rebound won't offset the losses already incurred.
00:17The airliners are relying on borrowed funds to stay operational, delaying its timeline to profitability.
00:22JetBlue will cut off-peak flights, park older jets, delay some upgrades, review hiring, and reduce staff travel to cut costs.
00:29JetBlue has been trying to raise revenue and reduce costs after losing its spirit merger in American Airlines partnership, but no annual profit since 2019.
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