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A Qatar Airways 777-200LR departs LAX. (Photo: AirlineGeeks | William Derrickson)

Qatar Airways Reports $2 Billion Loss for Year Ended March 31

Qatar Airways published its 2019-2020 annual report on Sunday, in which it reported that the airline recorded a loss of $2 billion for the period from April 1, 2019 to March 31. The combination of the current airspace blockade against the Qatar, the liquidation of Air Italy, changes in accounting policy and reporting standards and the COVID-19 pandemic crisis were among the most important factors leading the Qatar Airways Group to report a net loss of 7 billion Qatari rials…

Singapore Airlines Group Announces Financial Results

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…

Alaska Airlines Announces Second Quarter Results, Oneworld Invite

The Alaska Air Group reported their second-quarter results and an official invitation to join the Oneworld alliance. As with all airlines, the Seattle-based airline reported significant losses due to the COVID-19 pandemic. Alaska’s reported net loss was $214 million under Generally Accepted Accounting Principles (GAAP). When compared to other airlines,…

Austrian Airlines Takes Financial Recovery Package

As the list of airlines that have received government-backed financial support grows during the COVID-19 pandemic, Austrian Airlines has announced that it will be the newest member of this group. In a press conference, the Vienna-based carrier announced that they would receive a total of 600 million euros ($677 million)…

Ethiopian Airlines Records Strong Half-Year Profit

Though unaudited, Ethiopian Airlines (Ethiopian) posted strong half-year financial returns in the current fiscal year with Public Enterprises Agency, reporting a $260 million in profit for the 2019-2020 year. $2.1 billion recorded in revenues made it the second most profitable state-owned corporation in Ethiopia. The airline also foresees a gross…

Caribbean Airline LIAT to Continue Flying Despite Reports

Caribbean regional airline, LIAT, has insisted that it will continue operations, despite local media reports that the airline is on the verge of collapse. The airline’s CEO has rebuffed claims from media in one of the carrier's home countries of Barbados, that the airline was about to run out of…

Aerolineas Argentinas Takes a Big Hit in 2018 Financials

Last week, Aerolineas Argentinas and its domestic sister company, Austral, presented its 2018 results with some worrying numbers but also with a ray of light regarding its operations for 2019. Together, both companies recorded a loss of $489 million USD. Compared to 2017, revenues remained practically constant, accompanying inflation, but…

Brexit Uncertainty Hits European Aviation as easyJet Reports Record Loss…

U.K. low-cost carrier easyJet has announced a record $352 million headline loss before tax for the first six months of its financial year. According to the airline’s chief executive officer, Johan Lundgren, the half-yearly result is “in line with expectations” as the reporting period encompasses the traditionally off-peak northern winter…

WOW air Returns Leased Aircraft Amid Financial Woes, Leaves Icelandair…

Icelandic ultra-low-cost carrier WOW air has returned four aircraft to lessors with two Airbus A330s and two Airbus A320 family aircraft departing Reykjavik earlier yesterday for storage, beginning the process of returning to their lessors. The move comes as a letter to bondholders from the airline's CEO and Founder Skuli Mogensen…

Shake Up at Alaska Airlines Causes Airline to Layoff Employees

Seattle-based Alaska Airlines is reportedly going to cut 100 jobs and is looking at layoffs. Employees were notified via an email from Andy Scheider, Vice President and head of human resources for the airline. “We need to make some difficult, but necessary, management reductions to more efficiently support our frontline…