JetBlue Reports $268 Million Loss in First Quarter Amidst Coronavirus Pandemic
By Paul Riegler on 7 May 2020
JetBlue Airways announced financial results for the first quarter of 2020 as the impact of the coronavirus first began to impact the travel industry.
The company announced a $268 million loss for the first quarter of the year, versus a $42 million profit in the same period in 2019.
Revenue in the first quarter was down 15.1% year over year. Revenue for March fell by 52% compared to the same period in 2019.
“The overall number of bookings remained extremely limited,” said JetBlue President Joanna Geraghty, but the airline believes it “reached the bottom in terms of demand around mid-April.”
(Photo: Accura Media Group)
