JetBlue cuts routes spanning Los Angeles to Lima in race to lower costs
Publishing timestamp: 2024-03-19 15:40:01
Summary
JetBlue is cutting routes and scaling back service in Los Angeles in an effort to reduce expenses and return to profitability after its failed acquisition of Spirit Airlines. The airline is under pressure from activist investor Carl Icahn, who disclosed a nearly 10% stake last month and won two board seats. CEO Joanna Geraghty is focusing on profitable transcontinental routes and cost-cutting measures.
Sentiment: NEGATIVE
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Source: https://www.cnbc.com/2024/03/19/jetblue-cuts-routes-los-angeles-south-america.html