JetBlue to implement budget cuts and reduce flights due to weak travel demand

JetBlue Airways CEO Joanna Geraghty told staff that the carrier is implementing a host of new cost cuts as softer-than-expected travel demand is making break-even operating margins this year “unlikely.”“We’re hopeful demand and bookings will rebound, but even a recovery won’t fully offset the ground we’ve lost this year and our path back to profitability will take longer than we’d hoped.