Airline and Hotel Operating and Financial Reports

JetBlue Reports $268 Million Loss in First Quarter Amidst Coronavirus Pandemic

JetBlue Reports $268 Million Loss in First Quarter Amidst Coronavirus Pandemic

JetBlue Airways announced financial results for the first quarter of 2020 as the impact of the coronavirus first began to impact the travel industry.
The company announced a $268 million loss for the first quarter of the year, versus a $42 million profit in the same period in 2019.
Revenue in the first quarter was down 15.1% year over year. Revenue for March fell by 52% compared to the same period in …

United Airlines Posts First Quarter Loss of $1.7 Billion in ‘Worst Financial Crisis in Aviation History’

United Airlines Posts First Quarter Loss of $1.7 Billion in ‘Worst Financial Crisis in Aviation History’

United Airlines announced financial results for the first quarter of 2020.
The Chicago-based airline recorded a loss of $1.7 billion compared to a $292 million profit in the same period in 2019.  Revenue was $8 billion, down 19% year over year.
The loss was its biggest since 2008.
“We will not hesitate to make difficult decisions we believe will ensure the long term success of our company,” said the airline’s CEO, Oscar Munoz.  …

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 …