Profitability

Amerijet Chief Commercial Officer Eric Wilson abruptly departs

Chief Commercial Officer Eric Wilson has left freighter operator Amerijet International Airlines amid shrinking cargo sales, adding to the turmoil that has engulfed the Miami-based airline for the past year.

Wilson resigned on Friday after three years “to pursue other opportunities,” Christine Richard, senior marketing director, confirmed in an email. But multiple sources familiar with Amerijet’s inner workings say Wilson was dismissed by new CEO Joe Mozzali, who is working hard to stabilize the...

https://www.freightwaves.com/news/amerijet-chief-commercial-officer-eric-wilson-abruptly-departs

Lyft turns in 2nd consecutive EBITDA-profitable quarter

Lyft announces Q3 2021 earnings, another profitable quarter

Ride-hailing platform Lyft announced its earnings for Q3 2021 after the bell on Tuesday,  reporting a 73% increase in year-over-year revenue and a 13% gain on last quarter’s revenue, while recording a profitable adjusted earnings before interest, taxes, depreciation and amortization for a second consecutive quarter. Q2 and Q3 2021 are the first adjusted-EBITDA-profitable quarters for Lyft.

Adjusted EBITDA for Q3 2021 exceeded Lyft’s outlook, coming in at $67.3 million, up from losses of $239.7...

https://www.freightwaves.com/news/lyft-turns-in-2nd-consecutive-ebitda-profitable-quarter

Uber eyes positive Q3 EBITDA, shares jump 6% premarket

Uber aims for profitability and raises outlook

In some big news for the rideshare giant, Uber on Tuesday revised its Q3 2021 outlook and now expects earnings before interest, taxes, depreciation and amortization to be positive as early as this quarter. Shares of the company’s stock jumped north of 6% on premarket movement on the New York Stock Exchange Tuesday morning.

In an SEC filing, Uber (NYSE: UBER) said that it now expects EBITDA for the current quarter to come in somewhere between a $25 million deficit and a $25 million profit, a...

https://www.freightwaves.com/news/uber-eyes-positive-q3-ebitda-shares-jump-6-premarket

Sustainability and profitability: Going green doesn’t have to be costly

Sustainability has garnered a reputation as cutting edge and costly. While it is certainly possible to sink millions into eco-friendly solutions like electric vehicles, there are ways to embrace environmentalism without breaking the bank. In fact, becoming more sustainable can actually drive profits higher. 

Flock Freight CEO and founder Oren Zaslansky emphasized the importance of sustainability from the very beginning. As the first certified B Corp in the freight industry, sustainability is at...

https://www.freightwaves.com/news/sustainability-and-profitability-going-green-doesnt-have-to-be-costly

Airlines to lose $48B despite banner year for cargo

Brown tail of UPS jet in foreground, cargo containers and American Airlines cargo warehouse in background.

Airlines will rake in record-high cargo revenues in 2021 on double-digit growth in shipping demand, but lose $47.7 billion because of weak air travel as most countries struggle with controlling virus variants and vaccinating populations, the International Air Transport Association said Wednesday.

The trade group downgraded its outlook from December, when it projected a $38 billion loss, with the net profit margin falling to minus 10.4% from minus 7.1%. The revised forecast represents a big...

https://s29755.pcdn.co/news/airlines-to-lose-48b-despite-banner-year-for-cargo

A.P. Moller – Maersk Makes Strong Transformational Progress in 2020

  • 2020 has been another year of solid progress for A.P. Moller – Maersk, both in terms of financial performance and in transforming the company.
  • Despite low volumes during most of 2020, profitability grew throughout the first nine months and ended the year with record Q4 results in Logistics and Terminals.
  • While Ocean delivered an exceptional quarter driven by the increased volumes and current, temporary supply chain disruptions.

A recent news article published in the Maersk reveals that A.P....

https://mfame.guru/a-p-moller-maersk-makes-strong-transformational-progress-in-2020/

How Container Liners Turn Losses To Profits & Manage Capacity

In an article published in the Maritime Executive, Luke Robert postulates and elaborates on the profit making strategy undertaken by the largest container liners plying the waters.

Let’s take a look how these shipping lines manage profitability.

Turning Around the Losses

Up till the beginning of 2020, most shipping lines were absorbing losses on their books despite doing their best to increase vessel utilization percentages. Due to this, carriers have looked at other ways of reducing their costs...

https://mfame.guru/how-container-liners-turn-losses-to-profits-manage-capacity/

COVID hits Southwest Airlines with $1.5B Q2 loss

A Southwest Airlines jet pained in blue takes off at desert airport. Southwest posted a $1.5 billion second-quarter loss.

Southwest Airlines (NYSE: LUV) recorded a $1.5 billion adjusted net loss in the second quarter, a direct result of the devastating impact of the coronavirus pandemic on passenger travel.

Revenues plummeted 83% to $1 billion. Including special charges, Southwest’s net loss was $915 million. Before taxes, Southwest lost $1.2 billion.

During the second quarter of 2019, Southwest had $5.9 billion in revenue and net income of $714 million.

Delta Air Lines (NYSE: DAL), United Airlines (NASDAQ: UAL) and...

https://www.freightwaves.com/news/covid-hits-southwest-airlines-with-1-5b-q2-loss

Cargo revenues buoy airlines amid $84b loss for 2020

Cargo pallets on the tarmac and the tail of Swiss Air Lines with white cross on it

Airlines stand to lose more than $84 billion this year, driven by a 50% reduction in revenues, but without the boom in cargo business the industry’s predicament would be even worse, the International Air Transport Association (IATA) said Tuesday in an unprecedented description of the financial tsunami crashing over the industry due to the coronavirus pandemic.

Cargo typically is a small portion of the overall industry, especially for passenger-focused airlines, but not this year. Cargo revenues...

https://s29755.pcdn.co/news/cargo-revenues-buoy-airlines-amid-84b-loss-for-2020

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