Marriott, JetBlue, Hertz Report Second Quarter Earnings
Marriott International, Hertz, and JetBlue Airways all announced financial results for the second quarter of 2024.
JetBlue Airways, a major New York-based airline that originally was going to call itself “Taxi” and sport a yellow livery, reported revenue for the period of 2.43 billion, down 6.9% from 2.61 billion in the same period in 2023. Net income for the period was $25 million, a drop of 81,9% from $138 million in Q2 2023.
The New York-based carrier introduced JetForward, its “strategic framework to return JetBlue to sustained profitability,” and listed four priority moves aimed at driving significant value over the coming year.
“These include boosting reliability and doubling down on our commitment to caring service to improve satisfaction and drive cost savings; reinvesting in building the best leisure network on the East Coast, where we are positioned to win; enhancing our existing product offerings and loyalty perks to better deliver the elevated and differentiated experiences our customers want; and keeping our costs low so that we can continue to offer customers exceptional value in the sky as we build a secure financial future for JetBlue,” said Joanna Geraghty, the airline’s CEO.
Marriott International, the largest hotel company in the world by the number of available rooms, reported revenue of $6.43 billion, a 6% year-over-year increase compared to $6.07 billion in Q2 2023.
Meanwhile, net income was $772 million, a 6% increase over the second quarter of 2024, when it was $726 million.
Worldwide RevPAR growth was nearly 5%, the company’s CEO, Anthony Capuano, noted, adding that it was because “consumers continued to prioritize travel”
Hertz, the second largest rental car holding companies in the United States, reported revenue of $2.353 million for the quarter, a 3% year-over-year drop from $2.437 million. The company also reported a net loss for the period of $865 million,
The Estero, Florida-based company said that vvehicle depreciation increased $706 million compared to the prior year quarter, “due mainly to a decline in future and current residual value.”
(Photos: Accura Media Group)
