Air Canada reported a loss of $526 million in its third-quarter financial results. Plans to reduce costs include staff layoffs, flight cuts and cancelations of aircraft deliveries....
American Airlines Group, the holding company of American Airlines (AA), announced a $2.4 billion loss in Q3 2020, compared to a $425 million profit it made in 2019....
FY2020 was devastating for Qantas Group, whose financial results attribute more than half of its almost $2 billion statutory loss to the depreciation of aircraft value....
Many have called COVID-19 pandemic the worst crisis in the history of air travel, with passenger numbers falling to almost zero following March 2020. European airlines experienced some of the strictest lockdowns in the world, as their revenues dropped, prompting bailouts and pleas to open borders. But who was hit the most?...
Brazilian airline Azul revealed a net increase in cash during Q2 FY2021 while avoiding any new loans....
Air Arabia said it witnessed the full impact of the global COVID-19 pandemics within the past three months, as the losses in the second quarter dragged its balance sheet to red. The Middle Eastern low cost carrier revealed a net loss of $46 million (AED 169 million) in the first half of 2020. ...
Korean Air, the flag carrier of South Korea, became the first airline to disclose that it managed to achieve a net profit in Q2 2020, a rare sight in the industry ravaged by the COVID-19 pandemic....
Etihad, United Arab Emirates’ second-largest carrier and one of the Middle East’s “big three”, remains optimistic about its current situation, despite the fact that the airline reported continuous losses and was forced to cut thousands of jobs....
In a financial statement released on August 5, 2020, Embraer reported second-quarter losses and a steep drop in revenue, yet the company indicates that it remains in “a stable overall position.” However, the introduction of the E175-E2 was delayed due to the current situation in the market....
Aeroflot, major Russian airline group, announced their second-quarter 2020 results, and they are on par with the rest of the industry with significant year-to-year revenue fall, 92% passenger turnover decrease and 26 billion rubles ($357 million) net loss....
,_a6-etp_(18592876742)_crop.jpg "Eithad remains optimistic despite massive losses and job cuts")
