👀 Ones to watch: The MOST undervalued stocks to buy right nowSee Undervalued Stocks

JetBlue to trim summer schedule amid hiring push

Published 04/10/2022, 08:55 PM
Updated 04/10/2022, 09:01 PM
© Reuters. FILE PHOTO: A JetBlue passenger jet lands with New York City as a backdrop, at Newark Liberty International Airport, New Jersey, U.S. December 6, 2019. REUTERS/Chris Helgren
JBLU
-
SAVEQ
-

By David Shepardson

WASHINGTON (Reuters) - JetBlue Airways (NASDAQ:JBLU) confirmed on Sunday it plans to cut its summer schedule in a bid to avert flight disruptions as it works to ramp up hiring.

An airline spokesman confirmed an email to staff on Saturday, reported earlier by CNBC, that said JetBlue had "already reduced May capacity 8-10% and you can expect to see a similar size capacity pull for the remainder of the summer."

U.S. airlines are working to aggressively ramp up hiring as they prepare for an expected spike in summer travel demand as the COVID-19 pandemic recedes. Since September, several major U.S. airlines have been forced at times to cancel hundreds or thousands of flights after severe weather disruptions.

The New York-based airline said on Sunday that "given we anticipate continued industry challenges and heavy demand into the summer, we are planning more conservatively and trying to be proactive where we can with cancellations due to disruptive weather and air traffic control events."

JetBlue canceled 148 flights, or 13% of its schedule on Sunday and delayed 39% of its flights, according to FlightAware, after canceling 18% of flights Saturday and delaying 48%.

The airline added that "to get our operation back on track this week and provide additional recovery options for the potential of additional April weather events, we are cancelling some flights this weekend and will be making a small schedule adjustment through the rest of the month."

© Reuters. FILE PHOTO: A JetBlue passenger jet lands with New York City as a backdrop, at Newark Liberty International Airport, New Jersey, U.S. December 6, 2019. REUTERS/Chris Helgren

JetBlue said despite hiring more than 3,000 new crew members in 2022, "we remain staffing constrained, and these disruptions exacerbate an already challenging staffing situation." It said it was adding "hundreds of new crewmembers each week as we prepare for summer travel."

JetBlue last week made an unsolicited offer of $33 per share in cash to buy Spirit Airlines (NYSE:SAVE), surpassing a near $25 per share cash-and-stock bid from Frontier Group Holdings made in February. Spirit said on Thursday it would start talks with JetBlue on its $3.6 billion offer.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.