JetBlue Airways will take 'conservative approach' to future capacity, revenue: president

29 July, 2020

JetBlue Airways reported (28-Jul-2020) an 85% reduction in capacity for 2Q2020, which it attributed to aggressive action to reduce cash burn. JetBlue Airways president and COO Joanna Geraghty noted the carrier is "laser focused on managing the current environment of low demand". She explained: "In the short term, we have added tactical point to point flights, responding to unserved demand in leisure and VFR markets and supporting our cash generation efforts. In the long term, our actions help us solidify our network strategy to improve our position in our Focus Cities. We are taking advantage of unique opportunities presented by the pandemic to allow us to rebuild our margins when demand returns". JetBlue Airways CEO Robin Hayes observed that while demand has improved since Apr-2020, "bookings remain choppy, and we remain focused on addressing changing trends as we progress through the summer". Ms Geraghty said the carrier expects demand will "continue to be volatile and recovery will not be linear". Consequently, the carrier will "continue to take a conservative approach in planning capacity and forecasting revenue". She concluded: "That said, our guiding criteria is cash generation, and we will continue to be nimble in reacting to changes in demand trends". [more - original PR]