FOX Business’ Jeff Flock reports on how airlines are faring during the coronavirus outbreak.
JetBlue Airways Corp.’s loss widened this spring as the COVID-19 pandemic grounded flights and stay-at-home orders eliminated non-essential travel.
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The Long Island City, New York-based air carrier lost $320 million, or an adjusted $2.02 a share, in the three months through June as total operating revenue plunged 90 percent from a year ago to $215 million.
“In the past two months, we made progress in reducing our cash burn, and have been quick to resize our operations to the very dynamic demand environment,” CEO Robin Hayes said in a statement. “While demand has improved materially from the lows we saw in April, bookings remain choppy, and we remain focused on addressing changing trends as we progress through the summer.”
This story is developing. Check back for updates.
