Airline and Hotel Operating and Financial Reports

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 …

Airbnb Posts $3.89 Billion Q4 Loss

Airbnb Posts $3.89 Billion Q4 Loss

Airbnb announced financial results for fourth quarter of 2020, its first report as a public company.
The company, which had its IPO in December of last year, reported a loss of $3.89 billion on revenue, on revenue of $859 million in the quarter.  Revenue was down 22% year over year from $1.11 billion.
Fourth-quarter revenue was also down nearly 36% from $1.34 billion in the third quarter of 2020, and Q4 2020 …

Marriott Records First Loss Since 2009

Marriott Records First Loss Since 2009

Marriott International announced financial results for the fourth quarter of 2020 and the full calendar year.
The world’s largest hotel chain ended 2020 with a loss of $267 million, its first loss since 2009.
The year-end results were reported several days after its CEO, Arne Sorensen, died of pancreatic cancer. Sorensen was only the company’s third CEO and the first not to carry a Marriott surname. He presided over what was the …

Hilton Posts $720 Million Loss for 2020 Amidst Pandemic

Hilton Posts $720 Million Loss for 2020 Amidst Pandemic

Hilton Worldwide announced financial results for fourth quarter and calendar year 2020.
The hotelier posted a net loss of  $225 million for the fourth quarter, down from profit of $176 million in the same period in 2019, and $720 million for the full year, down from $886 million.
Revenue plummeted 62% in the fourth quarter to $890 million and 54% for the year to $4.3 billion.
Revenue plummeted by 62% to $890 million …