JetBlue cuts annual costs after plan to boost revenue pays off

Dallas

JETBLUE Airways Corp plans to reduce annual costs by as much as US$300 million by 2020 after efforts to boost revenue over the past two years have done better than the company expected.

The largest share of savings - as much as US$125 million - will come in aircraft maintenance operations, with additional cost reductions being generated by offering more self-service options at airports, JetBlue said in an investor presentation on Tuesday. While improving efficiency is a focus, there are no plans for furloughs of workers, the New York-based carrier said.