JetBlue announced today that it will make a 40% cut to its schedule as it weathers damage to the aviation industry from the coronavirus.
The company called the financial losses “stunning.”
“Last year on a typical day in March we took in about $22 million from bookings and ancillary fees. Throughout this March, our sales have fallen sharply and in the last several days we have taken in an average of less than $4 million per day while also issuing over $20 million per day of credits to customers for canceled bookings,” JetBlue said.
The company said some executives will take a 50% pay cut.
Source: CNN News