JetBlue to add bag fees and reduce leg space
Bad news for all the travelers as their favorite JetBlue airline announced on Wednesday that it will add bag fees and will also squeeze seats. The airline is doing so in order to boost its profits.
All the other big airlines had added fees on checked bags since 2008 as all of them needed money to cover the rising fuel costs. With the Wednesday announcement, JetBlue too has added itself to this list of airlines. This decision has now made Southwest the only major US airline to let all passengers check a bag free.
The airline has announced that it will decrease the leg room of its Airbus A320 planes from about 34 inches to 33 inches and by doing so, they plan to add 15 more seats to each plane.
Twitter was filled with tweets from many disappointed customers. Steve Rechtman, a customer, said, "I was a loyal passenger since '03 and AmEx holder since '04. Today's news is not good news. You're just another airline now".
This decision of the JetBlue airline has left many of its loyal passengers disappointed, but it seem to please investors a lot. This is evident from the fact that after JetBlue made this announcement, shares of JetBlue Airways Corp. rose more than 4%.
Analysts stated that by making this decision, the incoming CEO of the airlines Robin Hayes has made it clear that his prime focus is sharply on boosting revenue and controlling costs.
After the announcement, JetBlue Airways Corp posted massive gains of 4.13% or 0.525 points and registered the day's last trade at $13.245 per share. The stock had opened slightly lower at $12.6 as compared to its previous close of $12.72, and hit a high of $13.48 and a low of $12.6 during the course of trading.
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