JetBlue Reports Q2 Loss of $450 Million

By Paul Riegler on 28 July 2020
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JetBlue Airways announced financial results for the second quarter of 2020.

Revenue for the period was down 90% to $215 million, compared to $2.1 billion in  Q2 2019, and the airline carried 616,000 passengers in the quarter, a year-over-year decline of over 94%.

The New York-based carrier posted a $450 million pre-tax loss for the quarter. Excluding one-time items, the loss was $754 million.

The airline said that demand for travel amidst the coronavirus pandemic has improved “materially” from the lows the industry saw in April, but new bookings remain “choppy.”

“We firmly believe that we are laying the foundation and repositioning JetBlue to come out of this historic crisis as a stronger, global player in the years to come,” said the airline’s CEO, Robin Hayes.

Looking ahead, the airline said that Q3 2020 revenue will likely fall 80% compared to the same period in 2019.

(Photo: Accura Media Group)

Accura News

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