Airline and Hotel Operating and Financial Reports

Saying Covid Has Changed It Forever, United Airlines Posts $7.1 Billion Loss for 2020

Saying Covid Has Changed It Forever, United Airlines Posts $7.1 Billion Loss for 2020

United Airlines announced financial results for the fourth quarter of 2020 as well as for the full calendar year.
The Chicago-based airline recorded a net loss of $1.9 billion in the quarter, compared with a profit of $641 million in the same period in 2019.
The carrier also reported a $7.1 billion loss for the year.
The airline said it expects 2021 to be a year of transition “focused on preparing for a …

Frankfurt Airport Reports ‘Historic Low’ in Passenger Traffic for 2020

Frankfurt Airport Reports ‘Historic Low’ in Passenger Traffic for 2020

Fraport AG, the operator of Frankfurt Airport, announced traffic figures for the calendar year 2020.
Passenger traffic at Frankfurt fell to a “historic low” amidst the travel-induced downturn in the coronavirus pandemic, the company said, but Fraport expects an improvement before the end of the year.
“We expect Frankfurt’s passenger traffic to rebound noticeably in the second half of 2021,” said Stefan Schulte, Fraport’s CEO.
Passenger traffic was 18.8 million passengers for …

Delta Reports Record Loss of $12.4 Billion in 2020

Delta Reports Record Loss of $12.4 Billion in 2020

Delta Air Lines announced financial results for fourth quarter of 2020 as well as for the calendar year.
The Atlanta-based carrier posted a net loss of $12.4 billion in 2020 amidst the coronavirus pandemic-induced decline in travel.  The airline also reported a $755 million net loss in the fourth quarter compared with a $1.1 billion profit in the same period in 2019.
The airline expects a “stronger” 2021, as coronavirus vaccinations start …

Boeing Continues to Trail Airbus in New Orders and Deliveries Going into 2021

Boeing Continues to Trail Airbus in New Orders and Deliveries Going into 2021

Boeing announced orders and deliveries for the fourth quarter of 2020.
The Chicago-based company delivered approximately 60% fewer aircraft to customers in 2020 when compared to the prior year and made one-third the number of deliveries of Airbus, its closest rival.  The delivery figure was the lowest in 43 years.
The aircraft maker delivered 59 planes to customers in the fourth quarter, including 31 737 Max jets, 3 747 jumbo jets, ten …

United Airlines Confident of Vaccine-Driven Recovery in 2021

United Airlines Confident of Vaccine-Driven Recovery in 2021

United Airlines said in a recent Securities and Exchange Commission filing that it expects fourth-quarter revenue to be down 70% compared to the same period in 2019 amidst the coronavirus pandemic-induced downturn in travel.
The airline said it is seeing a daily cash burn of $24 million to $26 million plus $10 million in debt principal and severance payments per day on average.
Still, the Chicago-based carrier says it is confident of …

Air Canada Revenue Plunges 86% in Third Quarter

Air Canada Revenue Plunges 86% in Third Quarter

Air Canada announced financial results for third quarter of 2020.
The Montreal-based carrier said that revenue in the period had plunged 86% to 757 million Canadian dollars ($584 million), a drop of $4.77 billion.
“Today’s results reflect Covid-19’s unprecedented impact on our industry globally and on Air Canada in what has historically been our most productive and profitable quarter,” said the airline’s CEO, Calin Rovinescu.
The airline reported an operating loss of $785 …

Marriott Returns to Profitability in Q3

Marriott Returns to Profitability in Q3

Marriott International announced financial results for the third quarter of 2020.
The world’s largest hotel operator posted a $100 million profit for the period on revenue of $252 million after posting its second-largest quarterly loss in second quarter amidst the coronavirus pandemic.
“While COVID-19 is still significantly impacting our business, our results for the third quarter showed continued improvement in demand trends around the world,” said Arne Sorensen, the company’s CEO.
The hotelier …