Airline and Hotel Operating and Financial Reports

American Sees Lower August Revenue Than Expected Amidst Rise in New Covid Cases

American Sees Lower August Revenue Than Expected Amidst Rise in New Covid Cases

American Airlines, the world’s largest carrier, warned that August revenue will be weaker than expected amidst a rise in coronavirus cases that have driven down new bookings.
The rise in new infections is being driven by the highly contagious Delta variant, also known as B.167.1.2.
The news follows similar reports from Southwest Airlines, Spirit Airlines, and Frontier Airlines.
“This has been and we expect will continue to be a very choppy recovery month,” …

Marriott Swings to Profit, Sees Blending of Leisure Trips with Business

Marriott Swings to Profit, Sees Blending of Leisure Trips with Business

Marriott International announced financial results for second quarter of 2021.
The hotel operator reported revenue of $486 million in the quarter compared to a net loss of $234 million in the same period in 2020 amidst the coronavirus pandemic induced downturn in travel and to net income of $232 million in the same period in 2019.  The improvement was driven by leisure travel, while the company keeps “a close eye” on …

Hilton Reports $1.3 Billion in Revenue in Second Quarter

Hilton Reports $1.3 Billion in Revenue in Second Quarter

Hilton Worldwide announced financial results for the second quarter of 2021.
The hotelier reported a net income of $128 million on revenue of $1.3 billion, versus a net loss of $430 million in the same period in 2020.
The second quarter results reflect “our ongoing recovery from the negative effects of the Covid-19 pandemic,” said the chain’s president, Christopher Nassetta, who cited “renewed interest in travel and tourism, with families embarking on …

JetBlue Turns Small Profit in Second Quarter

JetBlue Turns Small Profit in Second Quarter

JetBlue announced financial results for the second quarter of 2021.
The New York-based carrier said it had recorded net income of $64 million, compared with a net loss of $320 million in the same period in 2020, on revenue of $1.5 billion, down 35% when compared with the same period in 2019.
Revenue in the second quarter of 2019 was $2.1 billion and, in 2020, $215 million.
The airline said it expects to …

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 …