JetBlue dips as it plans to cut flights and pause retrofits
Shares of JetBlue were trading down more than 4% on Tuesday morning after CEO Joanna Geraghty informed staff that the carrier would be implementing further cost cuts.
In its effort to streamline, JetBlue said it will cut flights, pause retrofits, and park some of its planes.
JetBlue’s “path back to profitability will take longer than we’d hoped,” Geraghty wrote in a memo. The carrier’s attempt to buy budget rival Spirit Airlines was blocked by the Biden administration last year.
The airline’s shares are down 44% so far this year.
JetBlue’s “path back to profitability will take longer than we’d hoped,” Geraghty wrote in a memo. The carrier’s attempt to buy budget rival Spirit Airlines was blocked by the Biden administration last year.
The airline’s shares are down 44% so far this year.
