Airline losses..2nd round..

[r2d2]

The second quarter was the worst financial hit in the history of the airline industry. The third-quarter results won't be much better.

US airlines reported combined losses of $12 billion in the second quarter, excluding special items, as revenue plunged 86% from the prior year. And analysts are forecasting that losses will come to about $10 billion in the just-completed third quarter.

Delta Air Lines (DAL) will kick off the flood of red ink on Tuesday when it reports results.

Airlines did manage to shave losses by trimming costs -- including labor, as employees took buyouts and early retirement packages and agreed to unpaid furloughs. And there was a modest pickup in travel during the summer travel season. 

Yet it's not much better than the previous disastrous quarter: Wall Street analysts forecast industry sales will be down 75% in the third quarter.

Bookings haven't looked particularly strong for the fall with leisure travel drying up and very little in the way of business travel to take its place.

Meanwhile, many, though not all, of the airlines have recently implemented involuntary job cuts and furloughs that had not been allowed through the end of September under terms of the Congress-approved financial relief for the industry earlier this year. US airlines received $25 billion in direct help to keep workers on payroll through the end of September, along with an additional $25 billion in no-strings loans that did not come with the promise to avoid layoffs.

As soon as the prohibition on involuntary job cuts ended on October 1, American Airlines (AAL) cut 19,000 jobs and United (UAL) cut an additional 13,000. There was bipartisan support for a second package of federal help to prevent those cuts, but hopes for that assistance died when Congress and the Trump administration failed to agree on another Covid stimulus package.

Every US airline lost money in the second quarter. And virtually all are expected to report a full-year loss, including Southwest (LUV), which had reported 47 consecutive years of profitability through 2019.

 

When will the losses end for the industry? That will depend on the simple but unanswerable question of when people will be ready to fly again.

[tacobell fan]

[Sucker]

Arey Repubs senate baadcaw la ra Dems oppose ante vallakoka target vundi meekem puttindi ra. Jobs 10ngi pothunnai akkada. Airline jobs process thelsa ee baadcaw la ki. Especially e year election la leni repub sentor gallu athi 10nguthurru.

[Maryadaramanna]

muzic start

[Pappu_Packitmaar]

Airlines ki last hope this Christmas and holiday season. Atleast inkoka two quarters ki cash flow aina vastadi..malli corona cases perigi, travel biscuit aithe inkoka massive round..

Aircraft maintenance and parking,storage, airline leasing, ancillary services all biscuit...

[Sucker]

2 minutes ago, Pappu_Packitmaar said:

Airlines ki last hope this Christmas and holiday season. Atleast inkoka two quarters ki cash flow aina vastadi..malli corona cases perigi, travel biscuit aithe inkoka massive round..

Aircraft maintenance and parking,storage, airline leasing, ancillary services all biscuit...

Senate busy with SC nomination. I hope it will dent all sitting senators chances this year. 

[ring_master]

[tacobell fan]

 

 

[xano917]

2 minutes ago, tacobell fan said:

 

 

NBA ki thatha ki padada ? why ?

[r2d2]

7 minutes ago, xano917 said:

NBA ki thatha ki padada ? why ?

Because most of the top NBA players openly criticize him.. in general he doesn’t like NBA/ NFL .. because he failed to own a pro team despite desperately trying ....

[veerigadu]

9 minutes ago, xano917 said:

NBA ki thatha ki padada ? why ?

Ivanka is secret pan of NBA and its players. Appatinundu thatha ki bhayam

 

[ring_master]

15 minutes ago, xano917 said:

NBA ki thatha ki padada ? why ?

I think lower viewership is because of the wisconsin incident...memu aadam games 10geymannaru ga...adi ala continue ayindi

[Peter123]

the airline stocks will roar coming months, they all have seen their worst.. 

even UK, icagy wil spike up soon. 

 

[Pitta]

[tom bhayya]

1 hour ago, xano917 said:

NBA ki thatha ki padada ? why ?

BLM ani ban chesaaru ga players so racist thaatha hurt ayyadu