JetBlue Airways is planning new cost-cutting measures such as reducing flights as soft travel demand makes achieving a breakeven operating margin in 2025 "unlikely", according to an internal memo seen by Reuters.

JetBlue Airways Corp. plans to hasten cost cuts by eliminating some flights, ending service to a number of cities and restructuring its leadership ranks.

The carrier has been looking for ways to increase revenue a year after a failed acquisition of Spirit Airlines, and last month it announced a new partnership with United Airlines.JetBlue Airways CEO Joanna Geraghty told staff the carrier is implementing a host of new cost cuts as softer-than-expected travel demand is making break-even operating margins this year "unlikely.