An airline that has been flying across Europe and the world for the past 98 years could be the next victim of the pandemic-induced crisis in the aviation industry. Prague-based Czech Airlines (CSA), the flag carrier for the Czech Republic, has filed for reorganization under the country’s Insolvency Act. Before making this decision, the company had sent a letter to its entire 430-person workforce informing them that they were going to be dismissed, leaving the carrier with no staff. The…
Delta Air Lines announced their fourth-quarter and full-year financial results, becoming one of their first airlines in the United States to do so. The Atlanta-based carrier posted a $1.1 billion loss, according to Generally Accepted Accounting Principles, in the final quarter of the year. For the calendar year, the airline…
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…
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 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,…
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)…
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 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…
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…
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…
