JetBlue narrows loss as customers book further ahead

JetBlue Airways has seen “meaningful progress” toward a sustainable rebound in recent weeks, with passengers returning to air travel in greater numbers and planning trips further into the future. The New York-based low-cost carrier on 27 April reported a first-quarter loss, but executives say demand has hit levels not seen since the beginning of the global health crisis more than one year ago. The company lost $247m in the first three months of 2021, slightly better than its $268m loss during the same period one year ago, just as the coronavirus crisis was making itself felt in the industry. In the first quarter of 2019, JetBlue earned a $42m profit. The airline’s Q1 2021 revenue fell 54% to $733m from the same three months in 2020. Revenue slipped 61% from Q1 2019. “We have seen meaningful progress in the demand recovery, and have started to gain momentum from the groundwork we have laid to emerge from the crisis as a stronger JetBlue,” says CE Robin Hayes. “We have seen positive cash from operations for March, and this milestone is our first step towards… returning to profitability.”<br/>