Airlines
UK Regional Airline Flybe Shuts Down, Again
7 hours ago
March 29, 2023
London
Skift Global Forum East
There was good and bad news for airlines reporting earnings this week. The top-line good news is that carriers’ success or shortcomings were up to them rather than broader economic issues.
Alaska Airlines, one of the most profitable airlines in the U.S. throughout the 2010s, reported just a 5.5 percent operating margin for the fourth quarter — less than half what it generated, 11.3 percent, during the same period three years earlier. Read More.
JetBlue Airways reported $2.4 billion worth of revenue during the fourth quarter of 2022, its highest ever in a fourth quarter, which the New York-based carrier attributed in part to significant growth in its TrueBlue loyalty program.
President and chief operating officer Joanna Geraghty said during JetBlue’s fourth-quarter earnings call on Thursday that TrueBlue recorded a 50 percent year-over-year increase in program enrollment in 2022, representing the most successful year in its history. Read More
Southwest forecasts a $300-350 million hit to revenues as a result of the meltdown in January and February, it disclosed in its fourth-quarter results Thursday. That is on top of the roughly $800 million hit it took in December. But, by March, executives are confident that the fallout — at least on its earnings statement — will be fully behind it. Read More.
Despite a number of constraints in the aviation industry, American Airlines has achieved a full year of profitability for the first time since 2019.
The airline had a total revenue in 2022 of $49 billion, an increase of 7 percent over 2019, and a total net income of $803 million — all while flying 8.7 percent less capacity. And that is despite a $1.9 billion pretax loss in the first quarter. Read More
EasyJet pulled off what is becoming the norm in the pandemic recovery: revenues that exceed pre-crisis numbers. But it was not high airfares that lifted it: In fact, direct passenger revenues were down 13 percent compared to the same period in 2019. It was ancillary revenues that really buoyed the airline’s total take. Read More
The number of inbound visitors prevented from coming to the U.S. due to visa delays
Projected lost revenue from curtailed inbound tourism in 2023
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