JetBlue resets with new CEO industry veterans to run airline on time 🔎🔍
🧐 · 12.02.2024 · 20:20:08 ··· Montag ⭐ 0 🎬 16
📺Inside News
🧠 · 07.07.2024 · 20:18:32 ··· Sonntag
😎 · 07.07.2024 · 18:18:32 ··· Sonntag
In the 24 years since JetBlue Airways' first flight, the New York-based airline has pushed the envelope for a carrier of its size. Now, with some veteran executive hires and cost-cutting, it's trying to get back to basics. JetBlue was a pioneer in seat-back entertainment, free Wi-Fi, good snacks and a business-class cabin with lie-flat seats that debuted at lower prices than rivals'. More recently, it's ventured across the Atlantic with flights to London, Paris, Amsterdam and Dublin. And, until a judge blocked the deal last month, it planned to buy budget airline Spirit Airlines for $3.8 billion. (The carriers are appealing that decision.)While JetBlue has never lacked big ideas, it has come up short on profits, cost control and reliability. Those challenges will be top of mind for incoming CEO Joanna Geraghty when she takes the helm on Monday, replacing Robin Hayes. Geraghty, 51, has been at JetBlue for nearly two decades, most recently as president and chief operating officer. By naming her CEO, the company is promoting an insider who knows the complexities of running an airline with quirks like New York's congested airspace. She's the first woman to lead a U. S. passenger airline."The key strategic challenge we've always faced is how to thrive as a small player in an industry dominated by four large airlines," Geraghty said on a Jan. 30 earnings call, referring to American, Delta, United and Southwest, which control about 80% of the domestic market. Last week, JetBlue said it has hired back the airline's former chief commercial officer, Marty St. George, 59, as president. St. George left the carrier in 2019 after 13 years and most recently worked at Latam Airlines as chief commercial officer. St. George, who also had previous posts at United Airlines and US Airways, is well-regarded by industry watchers for his experience and good relationship with frontline workers."Marty will be a much needed force of good for JetBlue for improving the airline's operational focus and reliability," said Henry Harteveldt, a former airline executive who runs the consulting firm Atmosphere Research Group. "Legroom doesn't matter, snacks don't matter if your schedule can't be trusted."JetBlue also promoted Warren Christie, who previously was the head of safety, security, fleet operations, and airports, to take over Geraghty's role as COO. Geraghty, whom JetBlue declined to make available for an interview, will have to convince investors and customers about the company's turnaround. JetBlue's last annual profit was in 2019, before the pandemic. Wall Street analysts aren't forecasting it will turn a profit until 2025, while other carriers have already returned to profitability in the post-Covid travel surge. JetBlue's shares are down 29% over the last 12 months, while the NYSE Arca Airline index is up nearly 6% over that period. JetBlue ranked ninth in punctuality for U. S.
All data is taken from the source: http://cnbc.com
Article Link: https://www.cnbc.com/2024/02/12/jetblue-resets-with-new-ceo-joanna-geraghty-airline-veterans.html
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· 12.02.2024 · 20:20:08 ··· Montag
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