Airline and Hotel Operating and Financial Reports

Apple Profit Soars in First Quarter on Consumer Optimism

Apple Profit Soars in First Quarter on Consumer Optimism

Apple, the world’s most valuablepublicly traded company,announced financial results for the first quarter of 2021.
The Cupertino-based company reported a profit of $23.6 billion in the first three months of the year on revenue of $89.6 billion.
The positive results reflect the “optimism consumers seem to feel about better days ahead for all of us,” said the company’s CEO, Tim Cook.
The company said there had been “strong double-digit growth” in each of …

Boeing Posts $537 Million Loss in Q1

Boeing Posts $537 Million Loss in Q1

Boeing announced financial results for first quarter of 2021 on Wednesday.
The Chicago-based aircraft company reported a net loss of $561 million for the first quarter on revenue of $15.2 billion, a 10% year-over-year decline.
The company said it expects 2021 to be a turning point as more people across the globe are inoculated against the coronavirus.
“While the global pandemic continues to challenge the overall market environment, we view 2021 as a …

Hawaiian Airlines Reports $61 Million Loss as Travel Returns to the Islands

Hawaiian Airlines Reports $61 Million Loss as Travel Returns to the Islands

Hawaiian Airlines announced financial results for first quarter of 2021.
The Honolulu-based carrier reported a first-quarter loss of $60.7 million amidst the coronavirus pandemic-induced decline in travel, a figure significantly lower than the $144.4 million loss that the carrier posted in the same period in 2020 when the pandemic was in its early stages.
“Despite the positive evolution of the quarter, our financial performance remains dramatically affected by the pandemic,” the airline’s …

JetBlue Records 61% Drop in Q1 Revenue

JetBlue Records 61% Drop in Q1 Revenue

JetBlue Airways announced financial results for first quarter of 2021.
The New York-based carrier posted a pre-tax loss of $347 million in the quarter, compared to profit of $58 million in the same period in 2019.  Excluding one-time items, the adjusted pre-tax loss was $636 million in Q1 versus $70 million in Q1 2019.
The airline does however see light at the end of the tunnel.
“We have seen meaningful progress in the …

Southwest Swings to Profit in First Quarter

Southwest Swings to Profit in First Quarter

Southwest Airlines announced financial results for first quarter of 2021.
Bucking the trend amongst major carriers, the Dallas-based airline swung to a profit.
The airline reported first-quarter net income of $116 million, compared to a $94 million loss in the same period in 2020.   Revenue was $2.05 billion, down 51% compared to Q1 2019.
The company attributed the drop in revenue to the coronavirus pandemic-induced decline in travel.
Southwest said that its first-quarter profit …

American Airlines Reports $1.25 Billion Q1 Loss on $4 Billion in Revenue

American Airlines Reports $1.25 Billion Q1 Loss on $4 Billion in Revenue

American Airlines announced financial results for the first quarter of 2021.
The world’s largest airline posted its fifth consecutive quarterly loss and said it will operate second-quarter capacity that’s 20% to 25% less compared with the first quarter of 2019.
The airline recorded a $1.25 billion net loss on just over $4 billion in revenue, a figure down 53% from the $8.5 billion it posted in the same period one year earlier, …

United Airlines Reports $2.4 Billion Loss for Q1

United Airlines Reports $2.4 Billion Loss for Q1

United Airlines announced financial results for first quarter of 2021.
The airline posted$2.4 billion adjusted net loss for the first quarter, on revenue of $3.2 billion, down 66% year-over-year. United cited higher fuel costs and continued weak demand amidst the coronavirus pandemic.
“We’re poised to emerge from this pandemic with a future that is brighter than ever,” said Scott Kirby, the airline’s CEO.
The airline, Kirby said, now sees “a clear path to …