JetBlue to trim flights, cut costs
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JetBlue has warned it will likely miss break even in this financial year as it embarks on further cost cutting measures. In a staff memo, CEO Joanna Geraghty noted the airline is still using borrowed cash for flight operations.
JetBlue CEO says the airline will further decrease flights during off-peak times and eliminate routes that are not profitable.
JetBlue Airways (NASDAQ:JBLU) stock fell 5% after CEO Joanna Geraghty informed staff that the airline will implement new cost-cutting measures as weaker-than-expected travel demand makes break-even operating margins in 2025 "unlikely.