LATAM Airlines Group closed 2020 with $3 billion of available liquidity - $1.7 billion in available cash added to $1.3 billion in committed DIP financing line - in a year marked by travel restrictions and the sharp contraction in demand passengers due to COVID-19. The group implemented an important cost reduction policy, reducing costs by 38.1% during the year compared to 2019. In a press release, LATAM Airlines Group’s CEO, Roberto Alvo, commented that "2020 was the most challenging year…
In a recent interview with the adn40 newscast, the CEO of Volaris, Enrique Beltranena, said that the Mexican ultra-low-cost airline ended the last quarter of the year operating at 95% of its capacity. “In Dec. 2020, Volaris reach out to operate at 102% compared to the same month in 2019.…
Viva Aerobus reported its operating and financial results for the 2020’s fourth quarter and its annual 2020 results, reflecting a positive trend in the airline's efforts to increase flights to meet the needs of its growing customer base. According to the airline's press release, Viva Aerobus' leadership team attributes the…
Ryanair Holdings PLC reported a loss of €185 million for the second quarter of 2020, the first quarter of its fiscal year, on Monday. This is a stark contrast from the same period last year, when the carrier made €243million, the airline announced in a press release. The loss is…
Last week, LATAM held its quarterly earnings call where it presented some rather bleak financial results for the first few months of the year. In the first quarter of 2019, LATAMs earned $2.525 billion in revenue, which represents a 7.5 percent decrease from the $2.730 billion earned during the same…
