Tag Archives: loss

Etihad Airways records US$1.7bn loss for 2020 | News

Kamark departs as Etihad restructures operations | News

Etihad Airways has reported an operating loss of US$1.7 billion for financial 2020, accelerating the losses of US $0.8 billion seen last year. The Abu Dhabi flag-carrier blamed the Covid-19 for its deteriorating fortunes. The airline saw a 76 per cent fall in passengers carried throughout the year, down to 4.2 million from 17.5 million […]

Norwegian-parent reports of $2.2bn loss for full-year | News

Norwegian-parent reports of $2.2bn loss for full-year | News

Norwegian Cruise Line Holdings has reported an adjusted net loss of $2.2 billion for financial 2020 after nearly a year out of the water. This compares to an adjusted profit of $1.1 billion for 2019. The group – which owns Norwegian Cruise Lines, Oceania Cruises and Regent Seven Seas Cruises – halted all sailings in […]

Gatwick looks to recovery following £465m loss | News

Dunn steps down from chief financial role at Gatwick | News

Passenger numbers at Gatwick fell 78 per cent in the year to December as the Covid-19 pandemic closed borders around the world. The airport remained open throughout the pandemic; however, all revenue streams were impacted, and the facility has reported a £465 million loss for the twelve-month period. Gatwick Airport, chief executive, Stewart Wingate said: […]

Norwegian reports £1.4bn loss for fourth quarter | News

Norwegian continues to struggle as Covid-19 restrictions tighten | News

Norwegian today reported a net loss of NOK16.6 billion (£1.4 billion) for the fourth quarter, including impairment of NOK 12.8 billion. The operating expenses before leasing and depreciation were reduced by 82 per cent compared to the same quarter last year. In 2020, the company reduced net interest-bearing debt by NOK18 billon. Demand was severely […]

International Airlines Group reports €7.4bn loss for 2020 | News

Gatwick to introduce drop-off charges next month | News

International Airlines Group has reported a loss of €7.4 billion for financial 2020 as the Covid-19 pandemic wrought havoc in the aviation sector. The losses include charges for exceptional items relating to fuel and currency hedges, early fleet retirement and restructuring costs. The figure is in comparison to a profit of €2.6 billion in 2019. […]

Accor reports €2bn loss for 2020 as Covid-19 takes toll | News

Accor reports €2bn loss for 2020 as Covid-19 takes toll | News

Accor has reported a net loss of €2 billion for financial 2020 as Covid-19 took a huge toll around the world. The figure is sharply down from a profit of €464 million reported in 2019. Travel restrictions saw revenues fall 60 per cent to €1.6 billion for the year. The largest hotel company in Europe, […]

Air France-KLM reports loss of €7.1bn for 2020 | News

Air France-KLM reports loss of €7.1bn for 2020 | News

Air France-KLM has reported a loss of €7.1 billion for financial 2020 as the global Covid-19 pandemic grounded international travel. Passenger numbers fell 67 per cent last year, the airline said in a statement earlier, while revenue fell 59 per cent compared to the previous year. Benjamin Smith, chief executive of Air France-KLM, said: “Last […]

Boeing reports near $12bn loss for 2020 | News

United Airlines to launch Covid-19 testing trial | News

Boeing has reported a net loss of US$11.9 billion for financial 2020, or a GAAP loss per share of $20.88, as the full toll of the Covid-19 becomes clear. The figure is down from a profit of US$636 million last year, which was itself impacted by the grounding of the Boeing 737 Max following two […]

Delta reports $15.6bn loss for financial 2020 | News

Delta reports $15.6bn loss for financial 2020 | News

Delta Air Lines has reported a pre-tax loss of $15.6 billion for financial 2020, representing a loss per share of $19.49 on total revenue of $17.1 billion. In the December quarter alone, the carrier saw pre-tax losses of $1.1 billion. “Our December quarter results capped the toughest year in Delta’s history,” said Ed Bastian, Delta […]

easyJet reports first ever annual loss | News

easyJet reports first ever annual loss | News

easyJet has reported a loss before tax of £1.27 billion for financial 2020 as the Covid-19 pandemic rips through the aviation industry. The figure compares to a profit of £430 million last year, and represents the first full-year loss in the low-cost carrier’s 25-year history. Total revenue for 12 months decreased to £3 billion, down […]

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