JetBlue Airways Corp. plans to hasten cost cuts by eliminating some flights, ending service to a number of cities and restructuring its leadership ranks as economic uncertainty feeds weaker-than-expected demand for travel, the company said in an internal memo.
The carrier will eliminate underperforming routes and plans to announce network changes in coming weeks, according to the memo from Chief Executive Officer Joanna Geraghty seen by Bloomberg on Tuesday.
JetBlue implemented budget reductions at support centers and is assessing hiring, spending on business partners and vendors and will combine or restructure some leadership roles. The carrier has halted cosmetic refreshes of four out of its 10 legacy Airbus A320 aircraft used for flights and will park the planes at the end of summer.
For more on JetBlue, Carol Massar and Tim Stenovec speak with Bloomberg's Mary Schlangenstein.
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