JetBlue sees return to profitability delayed by flight woes
2 years, 7 months ago

JetBlue sees return to profitability delayed by flight woes

Associated Press  

DALLAS — JetBlue Airways said Tuesday that it lost $255 million in the first quarter, and widespread flight cancellations in April plus the need to hire and train more pilots will delay the company’s return to profitability. Like other airlines that have reported financial results this month, JetBlue said demand for tickets is strong and fares are rising — the average first-quarter fare was 31% higher than a year ago — as consumers continued to return to travel after two years of pandemic. Hayes said JetBlue will further trim planned growth in its summer schedule “to get the operation back on track,” and that will delay JetBlue’s return to profitability until the second half of this year. He lowered his rating on JetBlue’s stock from “overweight,” or buy, to “underweight.” The airline said its adjusted loss was 80 cents per share, slightly better than the loss of 85 cents per share forecast by analysts in a FactSet survey.

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JetBlue posts a surprise Q2 profit and will delay new planes to cut costs and rebuild the business
4 months, 3 weeks ago

JetBlue posts a surprise Q2 profit and will delay new planes to cut costs and rebuild the business

Associated Press  

NEW YORK — JetBlue Airways reported a $25 million profit for the second quarter, and executives on Tuesday described a strategy of cutting costs to rebuild the business, sending the company’s shares sharply higher. The small profit was down 82% from a year ago, but it was a surprise to analysts who expected the New York-based airline to post a …

JetBlue tells Spirit Airlines that it may terminate its $3.8 billion buyout offer challenged by US
10 months, 3 weeks ago

JetBlue tells Spirit Airlines that it may terminate its $3.8 billion buyout offer challenged by US

Associated Press  

NEW YORK — JetBlue Airways warned that it may end its bid to acquire low-cost carrier Spirit Airlines as soon as this weekend after a federal judge blocked the deal, sending Spirit shares sharply lower Friday. Spirit shot back that it finds no reason to terminate the deal and will continue to meet its obligations, “and it expects JetBlue to …

JetBlue’s $3.8 billion buyout of Spirit Airlines is blocked by judge citing threat to competition
11 months, 1 week ago

JetBlue’s $3.8 billion buyout of Spirit Airlines is blocked by judge citing threat to competition

Associated Press  

DALLAS — A federal judge on Tuesday sided with the Biden administration and blocked JetBlue Airways from buying Spirit Airlines, saying the $3.8 billion deal would reduce competition. “To those dedicated customers of Spirit, this one’s for you.” Young said that a JetBlue-Spirit combination “would likely place stronger competitive pressure on the larger airlines in the country. At the same …

American Airlines, JetBlue seek to keep some ties despite losing antitrust case
1 year, 6 months ago

American Airlines, JetBlue seek to keep some ties despite losing antitrust case

Associated Press  

American Airlines and JetBlue said Friday they should be allowed to keep selling tickets on each other’s flights in the Northeast and link their frequent-flyer programs despite losing an antitrust trial over their partnership. The Justice Department said if the airlines get their wish, travelers would miss out on the benefits of restoring competition between the carriers. The airlines want …

Jet Airways relaunch hits turbulence: CEO confirms salary cut, leave without pay
2 years, 1 month ago

Jet Airways relaunch hits turbulence: CEO confirms salary cut, leave without pay

Hindustan Times  

Once a celebrated airline, Indian carrier Jet Airways has hit another roadblock ahead of its relaunch, leaving many of its employees with reduced salaries and on leave without pay. ‘Team working to revive’ Clearing the air about numbers and figures circulating on the internet, Kapoor said that only a small portion of the total employees – less than 10 per …

Airlines cancel more than 3,500 US flights over weekend
2 years, 8 months ago

Airlines cancel more than 3,500 US flights over weekend

Associated Press  

Airlines have canceled more than 3,500 U.S. flights this weekend and delayed thousands more, citing weather in Florida and other issues. JetBlue, Southwest, Alaska Airlines, Frontier, Spirit and American Airlines were most affected, according to FlightAware, with JetBlue and Spirit canceling one-third of Sunday’s scheduled flights. “Severe weather in the Southeast and multiple air traffic control delay programs have created …

Wave of canceled flights from omicron closes out 2021
2 years, 11 months ago

Wave of canceled flights from omicron closes out 2021

Associated Press  

More canceled flights frustrated air travelers on the final day of 2021 and appeared all but certain to inconvenience hundreds of thousands more over the New Year’s holiday weekend. By early evening Friday on the East Coast, airlines had scrubbed more than 1,550 U.S. flights — about 6% of all scheduled flights — and roughly 3,500 worldwide, according to tracking …

Boeing posts three-month loss of $2.4 billion
4 years, 4 months ago

Boeing posts three-month loss of $2.4 billion

CNN  

New York CNN Business — Boeing lost $2.4 billion over the past three months, the company revealed Wednesday. The company is still in the early stages of resuming production of its 737 Max jets, which was Boeing’s best-selling aircraft but has been grounded since March 2019 following two crashes that killed 346 people. “The reality is the pandemic’s impact on …

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