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"We reported the Q4 (2020) revenue down 67%, and we guided Q1 this year 65% to 70% down, so in other words, we're not really seeing any material improvement". JetBlue's CEO, Robin Hayes admitted in a CNBC interview that the industry where his company belongs shows no sign of development so far this year despite producing some strength towards the end of 2020.
JetBlue Airways Corporation (NASDAQ: JBLU) is a low-cost airline company that currently has a $4.5 billion market capitalization. For the past 3 months, the company delivered a 19.33% return and was able to settle at $14.32 at the closing of February 1st, 2021. JetBlue was founded in 1999 by David Neeleman and is managed by its Chief Executive Officer, Robin Hayes.
"For a year now, it's been very hard to call what the next few months hold,". Hayes mentioned that things are very unpredictable nowadays as we go through our lives with the virus, how things like the progress of the vaccines are doing or how the case counts come down. "What I can tell you is that JetBlue is ready to react as and when demand wants it.", he stated.
Talking about probabilities, if the airline business doesn't pick up by the end of March this year and should the congress interfere with a payroll support program, Robin Hayes emphasized that as much as possible, they want to 'control their own destiny'. "What we focus on JetBlue are the steps that we can take to control of our own destiny-- Congress may or may not act but what we're focusing on JetBlue is making sure we're taking control of our own destiny.". He said that they already opened over 80 new routes to new leisure markets to try to move airplanes where demand is at its peak.
"We're excited with our partnership with American Airlines because that's going to give us the ability to grow much more quickly out of this crisis.", marked Robin Hayes as he shows his optimism about their collaboration with American Airlines that accordingly, will help his company cope up with the losses it incurred and get back on track.