On January 31, 2024, a JetBlue Airways aircraft took off from Fort Lauderdale-Hollywood International Airport in Fort Lauderdale, Florida.
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JetBlue Airways Shares rose more than 17% on Tuesday after the airline reported a surprise profit and said it would defer another $3 billion in aircraft spending until 2029 to improve cash flow.
The New York-based airline has been cutting unprofitable routes and lowering costs in an effort to restore profits as it faces higher fees and oversupply in its domestic market. The company said on Tuesday it had suspended 50 routes and focused more on service in New York, New England and Puerto Rico, where it has historically performed strongly.
JetBlue Airways reported second-quarter profit of $25 million, down nearly 82% from the same period last year. Wall Street analysts had expected the company to report a quarterly loss.
This story is developing. Please check back for updates.
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