From NBCUniversal: 2024-07-30 16:05:50

JetBlue Airways shares surged 12% as the company announced an unexpected profit and deferred $3 billion in aircraft spending. Despite a $25 million profit for the second quarter, down 82% from last year, JetBlue aims to boost profit through cost-cutting measures and route adjustments. The airline will focus on key markets like New York and Puerto Rico to improve revenue. The carrier plans to push back delivery of 44 Airbus A321neo aircraft, impacting its operations. CEO Joanna Geraghty emphasized actions to improve reliability and punctuality rankings. JetBlue also plans to reduce capacity by up to 6% for the third quarter and 5% for the full year due to weaker revenue amid fierce competition in the airline industry. Leadership changes and a failed merger with Spirit Airlines have added to the challenges faced by JetBlue.



Read more at NBCUniversal: JetBlue shares jump after surprise profit in second quarter