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 Airways posted a record pretax loss of 1.03 billion Australian dollars ($824 million) in 2020, compared to an AUD$771 million profit in 2019. Meanwhile, the airline's revenue fell 75.4 percent,…
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…
JetBlue Airways has become the latest U.S. airline to announce its third-quarter financial results. The airline reported significant financial losses due to the COVID-19 pandemic and the travel dropoff associated with it. The New York-based carrier announced a pre-tax loss of $578 million under Generally Accepted Accounting Principles (GAAP). This…
Fort Worth, Texas-based American Airlines reported earnings for the third quarter on Thursday morning, announcing a net loss of $2.4 billion on the back of $3.17 billion in revenue, a 73% revenue decrease from the same period in 2019. The company's stock dropped in early trading on Monday as the…
United Airlines on Wednesday became the second major U.S. carrier to report its third-quarter earnings, missing Wall Street's expectations with a net loss of $1.8 billion on the back of $2.49 billion in revenue for the period ending Sept. 30. The airline maintained a veil of optimism, however, as it…
Atlanta-based Delta Air Lines reported a nearly $5.4 billion net — after-tax —loss in the third quarter on Tuesday morning as the airline became the first major U.S. carrier to release figures for the period. This came even as the airline has continued to work to lower cash burn and…
Sydney-based Qantas announced its consolidated fiscal year results marking the depth of the crisis caused by the ongoing COVID-19 pandemic. Australia’s flag carrier posted a statutory loss of 2.7 billion Australian dollars ($1.9 billion) for the fiscal year ended June 30, which is the second-highest loss in Qantas's century-long history.…
Singapore’s-national carrier, Singapore Airlines, announced significant losses during the company's second-quarter financial results. On July 29, the airline announced that the second quarter, which ended on June 30 and was the first of the carrier's 2020 fiscal year, resulted in a 1.123 billion Singapore dollar ($816 million) loss. These losses…
The final two of the U.S.'s four largest airlines to report second quarter earnings released their figures before market open on Thursday. Fort Worth, Texas-based American Airlines announced a $2.1 billion net loss on the back of $1.6 billion in revenue. Southwest Airlines, headquartered at Love Field Airport in neighboring…
