Airline Operating and Financial Reports

American Airlines Posts Biggest Quarterly Loss Since 2008

American Airlines Posts Biggest Quarterly Loss Since 2008

American Airlines announced financial results for first quarter of 2020.
First quarter revenue dropped nearly 20% to $8.52 billion from $10.58 billion in the same period last year as the demand for travel began to significantly fall in the last month in the quarter as a result of the coronavirus outbreak.  The company recorded a loss of $2.2 billion, compared to net income of $185 million in Q1 2019.
The world’s largest …

Airbus Records €500 Million First Quarter Loss

Airbus Records €500 Million First Quarter Loss

Airbus announced financial results for the first quarter of 2020.
The company posted a €481 million ($521.9 million) loss compared to net income of €43 million in the same period in 2019, attributing the results to the global shutdown of the commercial aviation industry. Its adjusted first-quarter operating profit fell 49% to €281 million as revenue dropped 15% to €10.63 billion.
Airbus said first-quarter adjusted operating profit fell 49% to 281 million …

Boeing Posts $641 Million Loss, Will Cut 10% of Workforce

Boeing Posts $641 Million Loss, Will Cut 10% of Workforce

Boeing announced financial results for first quarter of 2020 amidst a worldwide market it said was “frozen” by the coronavirus pandemic.
The aerospace giant reported revenue of $16.9 billion, a 22% drop from $22.9 billion in the same period in 2019. The company also reported a net loss of $641 million for the quarter, compared with a $2.15 billion profit in 2019.
“The Covid-19 pandemic is affecting every aspect of our business, …

Amidst Coronavirus, Southwest Airlines Posts First Loss Since 2011

Amidst Coronavirus, Southwest Airlines Posts First Loss Since 2011

Southwest Airlines announced financial results for the first quarter of 2020.
The Dallas-based airline posted its first quarterly loss since 2011 and predicted “ “no material improvement in air travel trends” for the spring amidst the coronavirus pandemic.
Southwest reported a first-quarter loss of $94 million on revenue of $4.23 billion, an 18% decline year-over-year decline.
The carrier announced a public stock offering of 55 million shares, worth around $1.6 billion at Monday’s …

Delta Records First Loss in Five Years Amidst Coronavirus Pandemic

Delta Records First Loss in Five Years Amidst Coronavirus Pandemic

Delta Air Lines announced financial results for the first quarter of 2020, reporting a loss of $534 million, down $1.3 billion from the $730 million profit in same period in 2019.
The Atlanta-based company was the first major airline to report the financial impact of the beginnings of the coronavirus outbreak, which started to have an impact on travel in late January.
Excluding special items, the loss for the quarter was $326 …

United Airlines Reports $2.1 Billion First-Quarter Loss

United Airlines Reports $2.1 Billion First-Quarter Loss

United Airlines announced financial results for the first quarter of 2020, the first major airline to offer detailed financial information for the period.
The Chicago-based airline said revenue fell to $8 billion, down 17% compared to the same period in 2019. On an adjusted basis, United said it had a roughly $1 billion loss in the quarter.
The nation’s third largest carrier said it expects to borrow up to $4.5 billion from …

United Airlines Sees 97% Drop in Traffic, Will Cut Flying by 90% for May

United Airlines Sees 97% Drop in Traffic, Will Cut Flying by 90% for May

United Airlines’ top executives reported a 97% drop in traffic for the first two weeks of April amidst the novel coronavirus outbreak, compared to the same period in 2019, and warned of the need for a significant reduction in its workforce come October 1.
“Less than 200,000 people flew with us during the first two weeks of April this year, compared to more than 6 million during the same time in …