U.S. airline industry earnings season continued Thursday morning as rival legacy carriers American Airlines and United Airlines released figures from the fourth quarter and all of 2021. The pair of airlines followed competitor Delta Air Lines' lead with a beat on the top and bottom lines. United reported a total…
This Monday, the LATAM Airlines Group reported that it foresees better operational prospects for the next six months, despite the profound impact of the pandemic in Latin America so far this year. In a press release, the group stated that it plans to reach a capacity greater than 50% of…
On Thursday, American Airlines revealed its numbers for the second quarter of 2021, posting its first profit since the beginning of the pandemic. Specifically, the Fort Worth, Tex.-based carrier totaled a $19 million net profit, boosted by funds via the U.S. government's Payroll Support Program - PSP. The Numbers During…
Aeroméxico is currently working to incorporate new aircraft into its fleet with plans to add 12 new Boeing 737 MAX aircraft in the coming months, with the first arrival planned for October. In a press release, the Mexican carrier stated that these orders were in addition to the 28 that…
Fleet renewals have been an essential step in many airlines' recovery strategies as they fly through the storm brought about by the Covid-19 pandemic, which has resulted in numerous accelerated aircraft retirements and extended delays in production. Some airlines have used it to their advantage — and Delta Air Lines…
Cebu Air, the listed operator of budget carrier Cebu Pacific, posted a net loss of P7.3 billion (US$152.6 million) in the first quarter of 2021, as the Philippines struggles to contain COVID-19 infection cases, Business World reports. Cebu Air's net loss is 516% higher than the US$25.1 million net loss…
The two largest Oceanic carriers, Qantas Airways and Air New Zealand, have reported their dreary earnings for the full year of 2020. Large declines in passenger volume, mainly attributed to ongoing travel restrictions driven by the COVID-19 pandemic, have caused both airlines to incur losses. Record Losses For Qantas Qantas…
On Wednesday morning, Boeing reported an annual loss of $11.94 billion for 2020 based on its fourth quarter earnings, amounting to a record loss in its more than 100 years of operation. In the fourth quarter alone, Boeing accumulated an $8.44 billion loss, citing the significant impact of COVID-19, the…
United Airlines concluded a difficult year by announcing its fourth-quarter earnings results on Wednesday. Overall, the airline lost $7.069 billion in 2020, a drastic contrast from a $3 billion profit in 2019. According to CNBC, this year marked the largest annual loss for United since 2005. Cash Burn Down, but…
