JetBlue Airways posts USD393m net loss in 3Q2020, revenue down 76%

JetBlue Airways announced (27-Oct-2020) a net loss of USD393 million in 3Q2020. Revenue fell 76% year-on-year, above the carrier's initial projections of down 80%, due to improved leisure demand and visiting friends and family (VFR) travel trends. Capacity also declined 58%, compared to the planning assumption of down at least 45%, due to measures taken by JetBlue to maintain liquidity levels and reduce cash burn. Additionally, operating expenses were down 45%, as a result of adjusted work schedules and eliminated discretionary spend, which in turn reduced variable and fixed costs. [more - original PR]