Qantas reports “devastating” financial year due to A380 write-off

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....


Tracking the downfall of European airlines

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?...


Azul showcases $186 million cash increase amid losses

Brazilian airline Azul revealed a net increase in cash during Q2 FY2021 while avoiding any new loans....


Air Arabia’s 2020 loses reach $46 million

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. ...


How Korean Air used pandemic to generate profit

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....


Eithad remains optimistic despite massive losses and job cuts

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....


Embraer pushes back E175-E2 introduction to 2023

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 revenue falls 85% in Q2, all hopes on domestic flights

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....


JetBlue announces $450m loss, revenue dropped by 90%

The United States-based low-cost carrier JetBlue was another American airline with unsurprising yet depressing news for their investors, as the company’s financial results for Q2 2020 indicated loss of revenue on par with the rest of the industry....


Air New Zealand to report US$77.2 million loss for FY2020

New Zealand’s flag carrier Air New Zealand has come out and warned investors of a possible loss amounting to NZ$120 million (US$77.2 million) for the financial year of 2020 ending on June 30, 2020.The...