Is JetBlue Airways Stock a Buy?
JetBlue Airways (NASDAQ: JBLU) came into 2020 with high hopes. An industry darling during the years following its 2000 debut, the airline had fallen on hard times of late, plagued by sky-high expenses and inconsistent demand.
But management believed they were well on their way toward reversing those trends and getting JetBlue soaring again. A combination of network changes, fee increases, and about $300 million in annual cost cuts were supposed to help the airline to earn between $2.50 and $3 per share in 2020, up dramatically from $0.60 per share in 2018. JetBlue was also banking on continued growth of Mint -- its well-received premium service -- to help boost margins and attract premium flyers.
But all those ambitious plans have been brought down to earth by the COVID-19 coronavirus pandemic, which has caused travel demand to evaporate overnight.
Source Fool.com
