JetBlue is under increased pressure to reduce expenses and return to profitability.
The airline is under increased pressure to reduce expenses and return to profitability after activist investor Carl Icahn disclosed a nearly 10% stake last month and won two board seats.A JetBlue Airways plane prepares to take off from the Fort Lauderdale-Hollywood International Airport in Fort Lauderdale, Florida, on Jan. 31, 2024.
JetBlue is also ending flights to Bogota, Colombia; Quito, Ecuador; Lima, Peru; and Kansas City, Missouri, in June, and flights between Fort Lauderdale, Florida, and Austin, Atlanta, Nashville and Salt Lake City as well as between New York and Detroit. Along with transcontinental flying, JetBlue said it will focus on "bread and butter" routes along the East Coast, and those serving Caribbean vacation destinations.
JetBlue had already begun a cost-cutting program before Icahn's stake and said in January that it was on track to reduce expenses by $200 million by the end of the year. The carrier trimmed some other routes earlier this year, CNBC
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