On Wednesday, July 28, aircraft manufacturer Boeing held its second quarter earnings call for 2021, posting its first profit in nearly two years. This comes at a time when the industry recovery trend continues to accelerate forward following less travel restrictions, leading to more servable routes. Boeing’s $567 million profit comes as a surprise to analysts, but can be attributed to the company's growth from previous years in all segments; Commercial, Defense, Space & Security and Global Services. The success…
Alaska Airlines recently held an earnings call and announced its second quarterly reports for 2021, citing a net income of $397 million compared to last year’s net loss of $214 million at the peak of the COVID-19 ordeal. Additionally, the airline posted a net loss for this year’s second quarter…
Airline industry tycoon Bob Crandall is no stranger to the peaks and pitfalls of the airline industry. As the former president and chairman of American Airlines from 1985 to 1998, Crandall is known for his unique cost-cutting strategies and outspokenness when it comes to investing in airlines. Long since retired,…
The impact of COVID-19 has been unprecedented in the air transport industry as in many economic sectors around the world. Many airlines are facing serious economic difficulties this year due to the important decrease in demand. Many big legacy carriers are asking national governments to help them with big loans…
SKY, the Chilean airline owned by businessman Jürgen Paulmann, will look to the capital markets for an injection of resources that will allow the carrier to continue flying. For this, SKY Airlines plans to launch the issuance of bonds for up to $100 million. According to diariofinanciero, the airline has…
In September, LATAM Airlines Group offered more frequencies to domestic destinations in Chile, Brazil, Peru and Ecuador and restarted the domestic operation in Colombia. On international flights, the novelties were the routes from Sao Paulo to Montevideo, and Santiago to Montevideo, two weekly flights from Santiago to Los Angeles and…
Avianca Holdings announced that it has received approval from the U.S. Bankruptcy Court for the Southern District of New York to access its Debtor-In-Possession (DIP) financing totaling just over $2 billion. “The approval of the DIP financing package is a significant milestone and an important step forward for Avianca. We…
As a result of the COVID-19 pandemic, Vietnam Airlines posted a $284 million loss in the first half of 2020 and expects its loss could reach $655 million by the end of the year. The airline recorded a remarkable year in 2019 and earned $4.3 billion. Vietnam has prevented the…
Two U.S. regional carriers are largely prevailing as victors in a battle for survival as airlines globally continue to weather an unprecedented downturn in travel demand. Phoenix-based Mesa Airlines and St. George, Utah-based Skywest Airlines have both posted profits for the last quarter while larger airlines report losses in the…
German-based Lufthansa Group announced that the German government had approved a large financial stabilization package for the airline group in response to the COVID-19 pandemic. The total package will equate to about 9 billion euros ($9.8 billion) for the operating group. Along with Germany, Lufthansa owns airlines in Austria, Switzerland…
