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air travel
Daily Infographic: How much money have airlines lost so far in 2021?
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https://www.freightwaves.com/news/daily-infographic-how-much-money-have-airlines-lost-so-far-in-2021
Delta grows cargo revenue, narrows loss to $2.1B in Q4
Delta Air Lines (NYSE: DAL) cranked up cargo revenue in the fourth quarter to $204 million, a 10% gain over the same period a year ago and a big improvement from the prior two quarters. Overall, the company met Wall Street expectations with an adjusted pretax loss of $2.1 billion on $4 billion in revenue.
The pretax loss of $2.53 per share came in slightly higher than the consensus among analysts of $2.50 and revenue was also above the estimate of $3.6 billion. In the third quarter, Delta’s...
https://s29755.pcdn.co/news/delta-grows-cargo-revenue-narrows-loss-to-21b-in-q4
Analysis: US airlines eliminate change fees — and thousands of jobs
Delta Air Lines, American Airlines and Alaska Airlines (NYSE: ALK) followed United Airlines’ (NASDAQ: UAL) lead on Sunday in permanently eliminating unpopular fees for changing reservations on all but the cheapest tickets. The moves are the latest survival tactic by airlines, which are planning to involuntarily furlough tens of thousands of workers next month without further government aid.
Domestic leisure bookings marginally improved in the past week, down 52% from a year ago compared to 55%...
Several regions experience air cargo lull ahead of peak season
The rate pause for airfreight is in its third week and spreading beyond the China market, but industry experts expect spot rates to rise again in September as the peak shipping season kicks into high gear.
The per-kilogram price to ship from China to the U.S. fell 7.9% to start last week, with the rate from Shanghai down 10.7% and from Hong Kong down 5.4%. The price drop was greater than the prior week and included exports from Hong Kong this time, according to The Air Freight Index Co.
Airfreight...
https://s29755.pcdn.co/news/several-air-cargo-markets-experience-lull-ahead-of-peak-season
Air Cargo Market Report: China rate rebound takes a breather
Airfreight rates to the U.S. plateaued in mid-August after rising for more than a month, influenced by a drop in demand from South China and passenger airlines temporarily adding more capacity. Still, finding affordable air transport in Southeast Asia, writ large, is difficult.
The dip freight activity isn’t expected to last long as retailers gin up shipments for the peak season buildup to the holidays.
Shippers paid $0.02 cents less per kilo for air transport from China to the U.S., with a...
https://s29755.pcdn.co/news/air-cargo-market-report-china-rate-rebound-takes-a-breather
US, China reciprocate on more airline access
Shippers will have eight additional flights per week with coveted cargo space on the busy China-U.S. route after the U.S. Department of Transportation on Tuesday permitted four Chinese carriers to double the number of round-trip flights they operate.
The U.S. decision came in response to Chinese aviation authorities on Monday authorizing United Airlines (NASDAQ: UAL) and Delta Air Lines (NYSE: DAL) to increase service frequency from two times weekly to four times weekly.
The two governments...
https://s29755.pcdn.co/news/us-china-reciprocate-on-more-airline-access
Boeing takes $2.4B loss in Q2 due to COVID-19
Aircraft manufacturer Boeing (NYSE: BA) reported a $2.4 billion net loss in revenue for the second quarter of 2020, which it attributes to the significant hit to the aviation industry by the ongoing coronavirus pandemic.
Commercial aircraft deliveries across the board fell by more than half during the first half of 2020, compared to the same period last year. Boeing’s popular 737 MAX was grounded more than a year ago after two deadly crashes within five months.
In addition, airlines are...
https://www.freightwaves.com/news/boeing-takes-24b-loss-in-q2-due-to-covid-19