airline revenues Archives - Maritime Shipping News

Airlines absorb $391 billion revenue shortfall in 2020

19 January 2021

The damage to the airline industry from the coronavirus pandemic last year totaled $391 billion in lower revenue as 60% fewer passengers took to the skies, according to a tally by the International Civil Aviation Organization.

The financial hardship has continued into 2021 as airlines try to cope with a double-dip recession. Experts are maintaining their outlook for a prolonged depression in passenger demand that will likely keep airlines at a diminished size for several years.

ICAO estimated...

https://s29755.pcdn.co/news/airlines-absorb-391-billion-revenue-shortfall-in-2020

Airline group issues distress call as projected losses reach $128B

6 October 2020

A white jet takes off with other planes sitting in the foreground and buildings from downtown Houston in the background.

The International Air Transport Association on Tuesday warned that airlines are on track to lose nearly $130 billion this year — significantly more than the group’s June estimate of $84 billion — because of the coronavirus crisis, and that the aviation and travel sectors will be crippled for a long time unless governments increase financial aid.

The trade association said member carriers will burn through $77 billion in cash during the second half of 2020, almost $13 billion per month, despite...

https://s29755.pcdn.co/news/airline-group-issues-distress-call-as-projected-losses-reach-128b

Airline cargo divisions finally gain a little R-E-S-P-E-C-T

30 September 2020

A large white jet with blue tail lifts off from runway on sunny day. View is from behind the plane, to the side a bit.

Air cargo is the cash cow for many passenger airlines during the coronavirus pandemic, an unusual result of decimated travel demand forcing passenger networks to shut down and carriers repurposing airplanes for cargo-only service.

Other than cargo and loyalty programs, airline revenues are extremely weak as the industry racks up tens of billions of dollars in losses.

Air France-KLM, Aeromexico, IAG Group/British Airways and Korean Air significantly exceeded last year’s cargo revenues in the...

https://s29755.pcdn.co/news/airline-cargo-divisions-finally-get-some-r-e-s-p-e-c-t