American Air Sees Surprise Loss in Break From Bullish Rivals
2 months ago

American Air Sees Surprise Loss in Break From Bullish Rivals

Live Mint  

-- American Airlines Group Inc. forecast a surprise first-quarter loss, breaking from rival carriers cashing in on unusually strong winter demand and pricier domestic fares. The pessimistic forecast contrasts with more bullish outlooks from rivals United Airlines Holdings Inc. and Delta Air Lines Inc. pointing to strong demand for winter trips to Europe and higher domestic ticket prices. American’s extensive domestic network and string of Sun Belt hubs should also give it outsized exposure to a rise in those fares after carriers that cut unprofitable flying last year to cull a glut of seats. The company has been working for months to win back business customers that walked away last year after a now-abandoned push for corporate clients to book directly rather than third-party travel managers.

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History of this topic

Delta slashes its profit outlook, saying consumers are anxious
2 weeks, 4 days ago

Delta slashes its profit outlook, saying consumers are anxious

CNN  

New York CNN — Delta Air Lines slashed its earnings forecast in a Securities and Exchange Commission filing Monday, saying consumers are worried about the economy in a sign that uncertainty and economic jitters could change the way Americans are now spending their money. “The outlook has been impacted by the recent reduction in consumer and corporate confidence caused by …

An American Airlines jet crashed, but the company's stock didn't
1 month, 3 weeks ago

An American Airlines jet crashed, but the company's stock didn't

Salon  

You might think there's no bigger threat to an airline's bottom line than a fatal plane crash. But the day after American Airlines Flight 5342 collided with a U.S. Army helicopter in Washington, D.C., killing all 67 people onboard, shares of the company were trading just 2.5% lower. They point to the most recent major U.S. air disaster, in 2009, …

JetBlue Tumbles as 2025 Cost Outlook Disappoints Investors
1 month, 3 weeks ago

JetBlue Tumbles as 2025 Cost Outlook Disappoints Investors

Live Mint  

-- JetBlue Airways Corp. shares tumbled after the carrier projected higher costs this year than Wall Street expected. “On one hand, the carrier certainly seems to be making unit revenue gains, with benefits of the JetForward strategy accruing more quickly than expected,” Stephen Trent, a Citi analyst, said in a note. JetBlue opted to pull back to core areas of …

Wall Street today: US stocks drift; Boeing, American Express dip
2 months ago

Wall Street today: US stocks drift; Boeing, American Express dip

Live Mint  

US stocks were drifting on Friday as investors assessed economic data and corporate earnings. ET, the Dow Jones Industrial Average fell 51.30 points, or 0.12 per cent, to 44,513.77, the S&P 500 gained 0.78 points, or 0.01 per cent, to 6,119.49 and the Nasdaq Composite lost 6.01 points, or 0.03 per cent, to 20,048.04. ET, the Dow Jones Industrial Average …

United Airlines Q2 profit rises to $1.32 billion as travel demand offsets the carrier’s rising costs
8 months, 1 week ago

United Airlines Q2 profit rises to $1.32 billion as travel demand offsets the carrier’s rising costs

Associated Press  

United Airlines on Wednesday reported that its second-quarter profit rose 23% to $1.32 billion, as record crowds at U.S. airports helped the carrier overcome sharply rising costs for fuel and labor. United said Wednesday that it expects to earn $2.75 to $3.25 per share in the third quarter, which is below the average $3.38 forecast among analysts in a FactSet …

Higher costs and low base fares send Delta’s profit down 29%. The airline still earned $1.31 billion
8 months, 2 weeks ago

Higher costs and low base fares send Delta’s profit down 29%. The airline still earned $1.31 billion

Associated Press  

Americans are traveling in record numbers this summer, but Delta Air Lines said Thursday that it saw second-quarter profit drop 29% due to higher costs and discounting of base-level fares across the industry. Delta doesn’t disclose average fares, but passengers paid 2% less per mile in the second quarter, and there were a couple more empty seats on the average …

United Airlines reduces reliance on Boeing - as bosses blame $124 MILLION first quarter loss on manufacturer's spate of disasters
11 months, 1 week ago

United Airlines reduces reliance on Boeing - as bosses blame $124 MILLION first quarter loss on manufacturer's spate of disasters

Daily Mail  

United Airlines indicated it will receive fewer planes from Boeing this year as it blamed its first quarter losses on a spate of disasters linked to the manufacturer. United reported a $124 million loss in the first three months of the year - which bosses said was due to the grounding of all Boeing 737 Max 9s after a panel …

United Airlines reports $124 million loss in a quarter marred by grounding of some Boeing planes
11 months, 1 week ago

United Airlines reports $124 million loss in a quarter marred by grounding of some Boeing planes

Associated Press  

United Airlines said Tuesday that it lost $124 million in the first quarter, which it blamed on a three-week grounding of all Boeing 737 Max 9s after a panel blew off an Alaska Airlines Max jetliner in January. United indicated it would receive far fewer new planes from Boeing this year than it expected, and it has begun leasing Airbus …

United Airlines is asking pilots to take time off in May because of a shortage of new Boeing planes
11 months, 3 weeks ago

United Airlines is asking pilots to take time off in May because of a shortage of new Boeing planes

Associated Press  

United Airlines is asking its pilots to take time off in May because of delays in receiving new planes that the airline ordered from Boeing, which is struggling with production due to manufacturing problems. “Due to the recent delays in Boeing deliveries, our forecasted have been reduced and we are offering our pilots voluntary programs for the month of May …

American Airlines to buy 260 new planes from Boeing, Airbus and Embraer to meet growing demand
1 year ago

American Airlines to buy 260 new planes from Boeing, Airbus and Embraer to meet growing demand

Associated Press  

DALLAS — American Airlines announced a massive order for new planes on Monday, splitting 260 new aircraft between Boeing, Airbus and Embraer in a move designed to meet growing travel demand and increase the airline’s supply of premium seats. In a presentation for analysts Monday, American called its short-haul network “the foundation of value for customers and investors.” American CEO …

Alaska Airlines says the grounding of some Boeing planes will cost the airline $150 million
1 year, 2 months ago

Alaska Airlines says the grounding of some Boeing planes will cost the airline $150 million

Associated Press  

DALLAS — Alaska Airlines said Thursday that the grounding of its Boeing 737 Max 9 jetliners will reduce full-year profit by $150 million and slow down the airline’s planned growth. “Until this incident, we were happy with the Max,” said CEO Ben Minicucci, “but we are going to hold Boeing’s feet to the fire to make sure that we get …

United Airlines expects to lose money in the first quarter due to the grounding of Boeing Max 9 jets
1 year, 2 months ago

United Airlines expects to lose money in the first quarter due to the grounding of Boeing Max 9 jets

Associated Press  

United Airlines said Monday it will lose money in the first three months of this year as it deals with the grounding of its Boeing 737 Max 9 planes after a panel blew out of a Max jetliner this month. United and Alaska Airlines have canceled hundreds of flights since the Federal Aviation Administration grounded their Max 9 jets after …

Broken wings: Complaints about U.S. airlines soared again this year
1 year, 3 months ago

Broken wings: Complaints about U.S. airlines soared again this year

NPR  

Broken wings: Complaints about U.S. airlines soared again this year Enlarge this image toggle caption Mario Tama/Getty Images Mario Tama/Getty Images If you're unhappy about the state of air travel in the U.S., you're in good company. Complaints about U.S. airlines climbed sharply in the first half of the year, consumer advocates say, as passengers remain deeply dissatisfied despite some …

Southwest Airlines quarterly profit slides 30% and says growth will slow next year
1 year, 5 months ago

Southwest Airlines quarterly profit slides 30% and says growth will slow next year

Associated Press  

DALLAS — Southwest Airlines’ third-quarter profit fell 30% to $193 million despite record revenue as leisure travel boomed over the summer, and the airline is losing pricing power at the same time that labor costs are rising. Southwest said Thursday that it will throttle back growth plans next year because of changes in travel, including a disappointingly slow recovery in …

American Airlines lost $545 million in the third quarter on higher labor costs while rivals prosper
1 year, 5 months ago

American Airlines lost $545 million in the third quarter on higher labor costs while rivals prosper

Associated Press  

DALLAS — American Airlines posted a $545 million loss for the third quarter as revenue was flat with last summer and costs rose, especially to cover a new contract with its pilots. Wall Street had already discounted the airline’s earning potential as jet fuel prices continue to creep higher: Analysts were expecting full-year profit of $2.34 per share even before …

A busy summer pushes United Airlines to a $1.14 billion profit, but fuel cost will hurt 4Q results
1 year, 5 months ago

A busy summer pushes United Airlines to a $1.14 billion profit, but fuel cost will hurt 4Q results

Associated Press  

United Airlines said Tuesday that it earned $1.14 billion in the vacation-heavy third quarter, but the airline forecast weaker profit the rest of the year due to surging jet fuel prices and the suspension of flights to Tel Aviv during the Israel-Hamas war. United said its fourth-quarter adjusted profit would be between $1.50 and $1.80 per share, far short of …

American Airlines rides travel boom to $1.3 billion profit in the second quarter as fuel prices drop
1 year, 8 months ago

American Airlines rides travel boom to $1.3 billion profit in the second quarter as fuel prices drop

Associated Press  

DALLAS — American Airlines reported a $1.34 billion profit for the second quarter, boosted by strong ticket sales and a huge drop in the price of jet fuel, and the airline raised its profit expectations for the year. Analysts were disappointed in American’s forecast that third-quarter revenue per seat will decline about 6% as the airline adds more flights, which …

United Airlines says it made $1 billion in the second quarter and sees strong remainder of 2023
1 year, 8 months ago

United Airlines says it made $1 billion in the second quarter and sees strong remainder of 2023

Associated Press  

United Airlines said Wednesday it earned more than $1 billion in the second quarter despite canceling 3,800 flights in the last two weeks of June, when it struggled to recover from storms that crippled its key operation in the New York City area. CEO Scott Kirby blamed the Federal Aviation Administration for restricting flights at the airport, then apologized for …

Tale of 2 airlines: Big profit at American, Southwest loss
2 years, 2 months ago

Tale of 2 airlines: Big profit at American, Southwest loss

Associated Press  

American Airlines and two smaller carriers gave more proof Thursday of the recovery in air travel, posting better-than-expected profit for the fourth quarter, while Southwest Airlines lost money because of massive flight cancellations last month. The airline had signaled it would lose money, but the adjusted loss of 38 cents per share was worse than the 7 cents per share …

United Airlines posts $843 million profit, bullish on 2023
2 years, 2 months ago

United Airlines posts $843 million profit, bullish on 2023

Associated Press  

United Airlines reported fourth-quarter profit and revenue higher than Wall Street expectations and gave a bullish 2023 forecast that assumes people will keep traveling despite inflation and concern about the economy. United said its fourth-quarter profit worked out to $2.46 per share after excluding certain items. For the first quarter, United is projecting profit of 50 cents to $1 per …

American Airlines boosts outlook after busy holiday season
2 years, 2 months ago

American Airlines boosts outlook after busy holiday season

Associated Press  

DALLAS — American Airlines raised its forecast of fourth-quarter revenue and profit Thursday, boosted by higher fares and full planes capped off with a busy holiday travel period. Officials said any gain from Southwest’s meltdown was likely offset by American canceling more than 800 flights, or 2.6% of its schedule, in late December, according to FlightAware figures. American said revenue …

United Airlines lifts 3Q revenue estimate after busy summer
2 years, 6 months ago

United Airlines lifts 3Q revenue estimate after busy summer

Associated Press  

DALLAS — United Airlines said Wednesday that third-quarter revenue will be higher than it had expected due to strong summer travel demand, and the upbeat outlook helped push airline stocks higher. Separately, United said it will end flights at John F. Kennedy International Airport in New York unless it can expand operations at the congested airport. JPMorgan airline analyst Jamie …

American Airlines earns $476 million on record revenue in 2Q
2 years, 8 months ago

American Airlines earns $476 million on record revenue in 2Q

Associated Press  

DALLAS — American Airlines earned $476 million in the second quarter on record revenue from summer travelers and said Thursday that it expects to remain profitable in the third quarter. Gatten said Heathrow officials told American “on extremely short notice” last week to cancel departing flights to help the airport manage overcrowding. Air travel in the U.S. has returned to …

US stocks jump as solid outlooks from retailers boost confidence
2 years, 10 months ago

US stocks jump as solid outlooks from retailers boost confidence

Al Jazeera  

Stocks extended their rebound from the lowest levels in over a year as solid outlooks from retailers bolstered confidence in the economy despite supply-chain snags and inflationary pressures. A drop in US mortgage rates by the most since April 2020 and Broadcom Inc.’s $61 billion acquisition of VMware Inc. also fueled risk appetite. Consumer shares led gains in the S&P …

US airlines say they’ve reached a turning point in recovery
2 years, 11 months ago

US airlines say they’ve reached a turning point in recovery

Associated Press  

DALLAS — U.S. airlines say they have hit a turning point: After a lousy first quarter, they expect to be profitable as Americans return to travel in the biggest numbers since the start of the pandemic. American said Thursday that although it lost $1.64 billion in the first quarter, sales hit a record in March, and the company expects to …

American Airlines loses $1.6 billion but sees better outlook
2 years, 11 months ago

American Airlines loses $1.6 billion but sees better outlook

Associated Press  

DALLAS — American Airlines lost $1.64 billion in the first quarter, a wider loss than a year ago, but said Thursday that it expects to turn profitable in the spring as travel demand strengthens. Air travel was subdued early in the year by the omicron variant that caused an increase in COVID-19 cases, but passengers returned in March, and American …

United Airlines loses $1.4B in 1Q, but expects profit in 2Q
2 years, 11 months ago

United Airlines loses $1.4B in 1Q, but expects profit in 2Q

Associated Press  

CHICAGO — United Airlines reported Wednesday that it lost $1.38 billion in the first quarter of 2022 but said it expects to return to profitability in the current three-month period as post-pandemic travel ramps back up. “We continue to believe we will see a strong spring and lead in to summer as restrictions disappear and more people travel,” said analysts …

American Airlines posts $169 million profit on taxpayer help
3 years, 5 months ago

American Airlines posts $169 million profit on taxpayer help

Associated Press  

FORT WORTH, Texas — American Airlines is reporting a third-quarter profit of $169 million after collecting nearly $1 billion in federal pandemic aid, and it expects big crowds and more flights during the upcoming holidays. Parker said that steps to pare its fleet of planes and reduce costs — thousands of workers quit last year — have left American in …

American Airlines turns small profit with taxpayers’ help
3 years, 8 months ago

American Airlines turns small profit with taxpayers’ help

Associated Press  

FORT WORTH, Texas — American Airlines eked out a second-quarter profit of $19 million, its first since the pandemic started, thanks to nearly $1.5 billion in federal relief. Excluding American’s share of $54 billion in federal relief to help airlines cover payroll costs, and other special items, the Fort Worth, Texas-based carrier would have lost $1.1 billion. Domestic leisure travel …

Losses mount for American and Southwest, but their outlook is brighter
3 years, 8 months ago

Losses mount for American and Southwest, but their outlook is brighter

CNN  

New York CNN Business — Financial results are finally getting better at the nation’s major airlines, thanks to a surge of vacation travel this summer. “Second quarter 2021 marked an important milestone in the pandemic recovery as leisure travel demand surged,” said Southwest CEO Gary Kelly. But Tom Nealon, Southwest’s President, told investors on Thursday that so far “we have …

United Airlines posts $434 million 2Q loss but revenue up
3 years, 8 months ago

United Airlines posts $434 million 2Q loss but revenue up

Associated Press  

United Airlines reduced its quarterly loss to $434 million and posted surprisingly strong revenue as U.S. vacation travel picked up. United recently told investors about plans to build its U.S. operation, “but the company is still dependent on international routes to make a full profit recovery,” said Peter McNally, an analyst with Third Bridge Group in New York. United’s second-quarter …

US aid lifts Southwest to Q1 profit, American loses $1.25B
3 years, 11 months ago

US aid lifts Southwest to Q1 profit, American loses $1.25B

Associated Press  

With a strong push from taxpayers, Southwest Airlines is the first major U.S. airline to report a profit since the pandemic started, and airlines executives say that the industry is on course to recover from a financial crisis caused by the pandemic. Southwest reported net income of $116 million in the first quarter, although it would have lost $1 billion …

Airline losses mount but the worst appears to be over
3 years, 11 months ago

Airline losses mount but the worst appears to be over

CNN  

New York CNN Business — The red ink continued to flow at US airlines in the first quarter. “While the pandemic is not over, we believe the worst is behind us, in terms of the severity of the negative impact on travel demand,” said Southwest CEO Gary Kelly, whose airline reported a loss of $1 billion in the quarter, excluding …

United loses $1.36 billion as business travel remains weak
3 years, 11 months ago

United loses $1.36 billion as business travel remains weak

Associated Press  

United Airlines posted a $1.36 billion loss in the first quarter and will need a rebound in lucrative business and international travel before it returns to profitability. Still, United and rivals American Airlines and Delta Air Lines depend on high-fare business and international travelers for an outsized share of revenue, and nobody knows exactly when those customers will come back. …

US airline stocks rise on hopes for a air travel rebound
4 years ago

US airline stocks rise on hopes for a air travel rebound

CNN  

New York CNN Business — US airline stocks rose Monday after a number of carriers reported strong demand for seats from leisure travelers. “The last three weeks have been the best three weeks since the pandemic hit,” American CEO Doug Parker said regarding advanced ticket sales. “We’re getting very close to 2019 levels in total bookings.” Parker cautioned that revenue …

American Airlines set to issue new stock after price run-up
4 years, 1 month ago

American Airlines set to issue new stock after price run-up

Associated Press  

DALLAS — American Airlines’ stock rose earlier this week during market volatility around struggling companies, and now the airline is using the opening to sell up to $1.1 billion in new shares. American is by far the mostly heavily shorted stock among publicly traded major U.S. airlines, at 25.5% of its total shares, according to FactSet. Chester Spatt, a finance …

American Airlines’ shares surge as shorts squeezed after results
4 years, 1 month ago

American Airlines’ shares surge as shorts squeezed after results

Live Mint  

Shares in American Airlines Group Inc surged more than 20% in opening trading after the carrier was mentioned on Reddit's WallStreetBets forum and it posted a slimmer-than-expected quarterly loss on Thursday. While we don’t know exactly when passenger demand will return, as vaccine distribution takes hold and travel restrictions are lifted, we will be ready," American Airlines Chief Executive Doug …

Southwest Airlines reports first loss in 48 years
4 years, 2 months ago

Southwest Airlines reports first loss in 48 years

CNN  

New York CNN Business — The last time Southwest Airlines posted an annual loss was 1972, when it was a small upstart airline flying a handful of planes on Texas-only routes. The six largest US airlines lost $30.4 billion last year American Airlines, the world’s largest airline by some measures, also posted an even bigger record annual loss of $9.6 …

American Airlines shares surge after WallStreetBets shoutout
4 years, 2 months ago

American Airlines shares surge after WallStreetBets shoutout

Al Jazeera  

Shares in American Airlines Group Inc surged more than 20 percent in opening trading on Wall Street after the carrier was mentioned on Reddit’s WallStreetBets forum and it posted a slimmer-than-expected quarterly loss on Thursday. While we don’t know exactly when passenger demand will return, as vaccine distribution takes hold and travel restrictions are lifted, we will be ready,” American …

US airlines still piling up losses but say demand is rising
4 years, 5 months ago

US airlines still piling up losses but say demand is rising

Associated Press  

DALLAS — Airlines are piling up billions of dollars in additional losses as the pandemic chokes off air travel, but a recent uptick in passengers, however modest, has provided some hope. American Airlines on Thursday reported a loss of $2.4 billion and Southwest Airlines lost $1.16 billion in the third quarter, typically a very strong period of air travel that …

American and United airlines cut thousands of flights from November schedule
4 years, 5 months ago

American and United airlines cut thousands of flights from November schedule

Daily Mail  

The four major US airlines have been forced to cut tens of thousands of flights from their schedule next month as the coronavirus pandemic continues to cripple the industry. American Airlines on Tuesday confirmed it has removed 86,000 - or 46 per cent - of flights from its November schedule as it struggles to cope with low demand. United Airlines …

United Airlines posts $1.6 billion loss in virus-scarred 2Q
4 years, 8 months ago

United Airlines posts $1.6 billion loss in virus-scarred 2Q

Associated Press  

United Airlines said Tuesday that it lost $1.63 billion in the second quarter as revenue plunged 87%, and it will operate at barely over one-third of capacity through September as the coronavirus throttles air travel. CEO Scott Kirby said United cut its cash-burn rate below its closest rivals by shrinking its schedule to meet lower demand and cutting costs across …

American, JetBlue will expand cooperation in NY, Boston
4 years, 8 months ago

American, JetBlue will expand cooperation in NY, Boston

Associated Press  

DALLAS — American Airlines and JetBlue Airways said Thursday they will sell seats on some of each other’s flights in the Northeast to strengthen both airlines in New York and Boston, where they compete against Delta and United. For JetBlue, the alliance would help it grow at LaGuardia and Newark airports in its home New York market and bolster its …

Airlines aim for takeoff as lockdowns ease and demand rises
4 years, 9 months ago

Airlines aim for takeoff as lockdowns ease and demand rises

Associated Press  

The skies are clearing up a bit for airlines as states ease lockdown measures and travelers slowly return to airport check-in lines. As of Monday, investors had driven shares for the major airlines back to their early March levels, before the coronavirus forced the U.S. economy to a standstill. The airline industry has essentially been grounded for months after a …

Dow climbs back to close higher after shares in top four US airlines drop
4 years, 10 months ago

Dow climbs back to close higher after shares in top four US airlines drop

Daily Mail  

US stocks closed higher on Monday as increases in large tech and internet companies and oil price gains outweighed concerns sparked by Warren Buffett's Berkshire Hathaway offloading its entire stake in the top four US airlines. Shares of Delta Air Lines Inc, American Airlines Group Inc, Southwest Airlines Co and United Airlines Holdings Inc fell between 5% and 8% and …

Airline nosedive: American, United post huge pandemic losses
4 years, 10 months ago

Airline nosedive: American, United post huge pandemic losses

Associated Press  

DALLAS — American Airlines and United Airlines lost a combined $4 billion in the first quarter as the coronavirus pandemic triggered a sharp drop in air travel, and the airlines are busy borrowing enough money to survive until passengers return in large numbers. “Never before has our airline, or our industry, faced such a significant challenge,” American Airlines Chairman and …

American Airlines posts $2.2 bn loss on pandemic, first since bankruptcy exit; total operating revenue declines nearly 20% to $8.5 bn
4 years, 10 months ago

American Airlines posts $2.2 bn loss on pandemic, first since bankruptcy exit; total operating revenue declines nearly 20% to $8.5 bn

Firstpost  

American Airlines has already reduced its flight schedule by about 80 percent in both April and May. American Airlines on Thursday posted a $2.2 billion net loss, its first quarterly loss since emerging from bankruptcy in 2013, and warned of a roughly $70 million per day cash burn in the second quarter as the coronavirus pandemic halts travel. The US …

American Airlines posts first loss since bankruptcy
4 years, 10 months ago

American Airlines posts first loss since bankruptcy

CNN  

New York CNN Business — American Airlines posted a significantly worse-than-expected loss in the first quarter, its first loss since emerging from bankruptcy six years ago. Excluding special items, the loss still came to $1.1 billion, worse than the $808 million loss forecast by analysts surveyed by Refinitiv. American said it expects to lose $70 million a day in the …

US stocks fall as oil drops to lowest since November
8 years ago

US stocks fall as oil drops to lowest since November

Live Mint  

US stocks fell on Tuesday as oil prices dropped to their lowest since November and airlines pulled industrial stocks lower. Health sector shares were volatile as traders digested a nonpartisan research report that showed 14 million Americans would lose medical insurance by next year under the Republican plan to dismantle the Obamacare healthcare reform. “None of the data you’re getting …

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