JetBlue Airways: VFR and leisure demand pushes improvements in revenue and booking trends

JetBlue Airways announced (22-Sep-2020) modest improvements in revenue and booking trends since early Aug-2020, chiefly as a result of leisure demand and passengers Visiting Friends and Family (VFR). The carrier expects scheduled capacity to fall about 55% year-on-year in 3Q2020, compared to previous expectations of 45%, and now anticipates average daily cash burn on the lower end of USD7 million to USD9 million. JetBlue's attributed its expected average daily cash burn during 3Q2020 to modestly improving demand trends, capacity actions and cost control. [more - original PR]