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JetBlue posts a surprise Q2 profit and will delay new planes to cut costs and rebuild the business

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JetBlue Airways is reporting a small but surprising profit for the second quarter.

FILE - A JetBlue plane lands at Logan International Airport, Jan. 26, 2023, in Boston. JetBlue reports earnings on Tuesday, July 30, 2024. reported a $25 million profit for the second quarter, and executives on Tuesday described a strategy of cutting costs to rebuild the business, sending the company’s shares sharply higher.

The shares rose 18% in late-morning trading, although they remain down two-thirds from their peak in 2021. Even with the money-making second quarter, JetBlue has lost $3 billion and not posted a full-year profit since the start of 2020. Courts struck down a partnership with American Airlines in the Northeast and a bid by the previous CEO to

 

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