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00:02JetBlue Airways is building new cost-cutting measures amid soft travel demand, according to Benzinga.
00:08CEO Joanna Garrity told employees the company likely won't reach break-even margins this year.
00:13Garrity said bookings may improve, but even a rebound won't offset the losses already incurred.
00:17The airliners are relying on borrowed funds to stay operational, delaying its timeline to profitability.
00:22JetBlue will cut off-peak flights, park older jets, delay some upgrades, review hiring, and reduce staff travel to cut costs.
00:29JetBlue has been trying to raise revenue and reduce costs after losing its spirit merger in American Airlines partnership, but no annual profit since 2019.
00:37For all things money, visit Benzinga.com.
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