Airline Operating and Financial Reports

Marriott Posts First Quarterly Loss in Nine Years Amidst Coronavirus Pandemic

Marriott Posts First Quarterly Loss in Nine Years Amidst Coronavirus Pandemic

Marriott International announced financial results for the second quarter of 2020.
The world’s largest hotel chain reported a net loss of $234 million, compared to net income of $232 in the same period one year prior. The adjusted net loss for the quarter was $210 million, compared to $525 million in Q2 2020.
The quarterly loss was Marriott’s first in nine years.
Travel bans and the need for social distancing during the coronavirus …

JetBlue Reports Q2 Loss of $450 Million

JetBlue Reports Q2 Loss of $450 Million

JetBlue Airways announced financial results for the second quarter of 2020.
Revenue for the period was down 90% to $215 million, compared to $2.1 billion in  Q2 2019, and the airline carried 616,000 passengers in the quarter, a year-over-year decline of over 94%.
The New York-based carrier posted a $450 million pre-tax loss for the quarter. Excluding one-time items, the loss was $754 million.
The airline said that demand for travel amidst the …

American Airlines and Southwest Airlines Report Steep Losses

American Airlines and Southwest Airlines Report Steep Losses

American Airlines and Southwest Airlines both announced financial results for the second quarter of 2020.
Both carriers reported significant losses for the period, the first full quarter to fall within the ongoing coronavirus pandemic.
Southwest reported an 83% drop in revenue compared to the same quarter in 20219, yielding a loss of $915 million.  American said revenue fell 86%, resulting in a $2 billion loss.
“This was one of the most challenging quarters …

United Airlines Says Revenue Fell Almost 90% in Second Quarter

United Airlines Says Revenue Fell Almost 90% in Second Quarter

United Airlines announced financial results for the second quarter of 2020.
Calling it “the most difficult quarter” in its history, the Chicago-based airline said that its operating revenue was $1.5 billion, down 87% compared to the same quarter one year earlier.
United also reported that it lost $1.6 billion in the second quarter, compared to a $1 billion profit in Q2 2019.
The airline said that the dramatic decline was due to the …

Ryanair Announces €1 Billion Profit for 2020, Will Resume Flights on July 1

Ryanair Announces €1 Billion Profit for 2020, Will Resume Flights on July 1

Ryanair announced financial results for fiscal 2020 as well as plans to restart flights.
The airline announced a profit of €1 billion ($1.08 billion) for the 2020 fiscal year, which ended March 31.  It cut its annual passenger traffic target by another 20% and warned it is considering pulling out of some airports in Europe.
In addition, the airline said it would return to the skies on July 1, operating 40% of …

Air Canada to Reduce Workforce by 60%

Air Canada to Reduce Workforce by 60%

Air Canada said late Friday that it will make at least 20,000 employees redundant in the wake of the novel coronavirus pandemic.
The cuts impact over 50% of the company’s 38,000 workers.
Earlier in the month, the airline said it lost 1.05 billion Canadian dollars ($748) in the first quarter, compared with a profit of $345 million in the same period in 2019.
“We therefore took the extremely difficult decision today to significantly …

Hyatt to Lay Off 1,300 Workers at the Corporate Level After Profit Plummets 263%

Hyatt to Lay Off 1,300 Workers at the Corporate Level After Profit Plummets 263%

Hyatt Hotels announced plans to make 1,300 workers redundant as it embarks on a global restructuring of corporate roles.
The Chicago-based company will lay off 350 workers in that city, one-third of the total workforce there.
Hyatt cited “the historic drop in travel demand and the expected slow pace of recovery” in making the announcement.
“Our goal is to emerge from this crisis with strength, and ultimately position our business and our world-class …