Airline and Hotel Operating and Financial Reports

Southwest Airlines Returns to Profitability as Air Travel Picks Up

Southwest Airlines Returns to Profitability as Air Travel Picks Up

Southwest Airlines announced financial results for second quarter of 2021.
Revenue rose to $4.008 billion from $1.008 in the same period in 2020.
The Dallas-based carrier reported net income of $348 million after a loss of $915 million in the same period in 2020 in the height of the coronavirus pandemic.
The airline was able to report a profit thanks to a $724 million offset of salaries and other benefits funded by proceeds …

American Airlines Reports First Profit Since Start of Pandemic

American Airlines Reports First Profit Since Start of Pandemic

American Airlines announced financial results for the second quarter of 2021.
The airline’s revenue was up more than four-fold from a year ago following increased demand after a severe decline amidst the worst of the coronavirus pandemic, but was down 37% from the same quarter in 2019. American was able to report a second-quarter profit of $19 million, its first since the pandemic started, thanks to the nearly $1.5 billion in …

United Airlines Narrows Loss, ‘Expects Profitability’ in Q3 and Beyond

United Airlines Narrows Loss, ‘Expects Profitability’ in Q3 and Beyond

United Airlines announced financial results for the second quarter of 2021.
The Chicago-based carrier reported a net loss of $434 million, its sixth consecutive loss, and an adjusted net loss of $1.3 billion on revenue of $5.5 billion, down 52% compared to the same period in 2019, but up 70% from the first quarter of the current year.
The company did not release any comparisons in performance with results from 2020 due …

Delta Reports First Quarterly Profit Since Start of Pandemic

Delta Reports First Quarterly Profit Since Start of Pandemic

Delta Air Lines announced financial results for the second quarter of 2021.
The airline reported its first quarterly profit since the start of the pandemic and the subsequent decline in travel across the globe. The airline said that domestic travel in the United States has “fully recovered” to 2019 levels and that there have been “encouraging” signs of improvement in business and international travel.
Adjusted operating revenue for the quarter was $6.3 …

Fraport Reports 77% Decline in Q1 Traffic at Frankfurt Airport

Fraport Reports 77% Decline in Q1 Traffic at Frankfurt Airport

Fraport AG, the operator of Frankfurt Airport, announced traffic figures for the airport for the first three months of 2021.
Passenger traffic for the period was approximately 2.5 million travelers, a 77% year-over-year decline and an 83.2% decline from pre-pandemic 2019, amidst the coronavirus pandemic-induced decline in travel
The airport reported a 21.6% year-over-year increase in cargo tonnage for the first quarter, with 565,497 metric tons (of cargo passing through the facility.
Despite …

Marriott Reports Q1 Revenue Down by 50%

Marriott Reports Q1 Revenue Down by 50%

Marriott International announced financial results for first quarter of 2021.
The hotel operator reported a net loss of $11 million in Q1, compared with a profit of $31 million in the same period in 2020, amidst the coronavirus pandemic-induced decline in travel.
Revenue fell to $2.32 billion to $4.68 billion in Q1 2020.
The company has seen a gradual recovery in the United States and Canada, as vaccines rolled out,  said Marriott CEO …

Uber Narrows Q1 Losses Thanks to Sale of Autonomous Driving Unit

Uber Narrows Q1 Losses Thanks to Sale of Autonomous Driving Unit

Uber Technologies announced financial results for the first quarter of 2021.
The ride-hailing service posted a net loss of $108 million, a significant improvement from the prior quarter when the loss was $968 million.  The company said that it benefitted from the sale of its autonomous driving unit, ATG, which generated a $1.6 billion gain.
Without the extraordinary item, Uber’s operating loss was $1.6 billion for the period.
Revenue for the quarter was …