The Canadian plane and train maker has announced that it has missed its quarterly operating profit forecast and, as a consequence, is now eyeing staff layoffs to reduce running costs. Like so many aviation-related businesses, Bombardier has been heavily hit by the widespread effects of the COVID-19 pandemic. Currently Bombardier is streamlining its business with
Atlas Air Worldwide Holdings has posted third-quarter 2020 net income of US$74.1 million compared with net income of US$60.0 million in the third quarter of 2019. On an adjusted basis, EBITDA totaled US$196.3 million in the third quarter this year compared with US$95.6 million in the third quarter of 2019. Adjusted net income in the
The global CORONA pandemic continued to have a considerable impact on the Lufthansa Group’s earnings development in the third quarter of 2020. However, compared to the second quarter, losses were reduced due to substantial cost savings and an expansion of the flight schedule in the summer months of July and August. Adjusted earnings (Adjusted EBIT)
Dubai Aerospace Enterprise (DAE) has reported its financial results for the nine months ended September 30, 2020. The company reported total revenue of US$984.1 million, compared to US$1,085.1 million for the same period in 2019. Net income totaled US$167.3 million, compared to US$260.5 million the previous year. During the third quarter of 2020, DAE signed
Ryanair has reported a first-half 2020 loss of €197 million, compared to a profit of €1.15 billion in the first half of 2019. Revenue in the first half of 2020 fell by 78% to €1.18 billion as traffic fell 80% to 17.1 million. With almost zero first quarter traffic, the vast majority of first-half revenue
Spirit’s third quarter of 2020 revenue was US$806 million, down from the same period of 2019, primarily due to the significantly lower 737 MAX production resulting from the grounding of the program and the impacts of COVID-19. Deliveries decreased to 206 shipsets during the third quarter of 2020 compared to 437 shipsets in the same
Dutch carrier KLM was due to receive a much-needed bailout package of €3.4 billion from the government to counteract recent losses incurred as a consequence of the COVID-19 pandemic. KLM posted a €234 million for the third quarter of 2020. On October 1, the restructuring of the carrier presented to the Dutch government covered pay
flypop has announced a significant investment from the U.K. government’s Future Fund. flypop, the U.K.’s only international long-haul, low-cost airline plans to launch in 2021 with scheduled flights to India. It will cater not only to the U.K.’s Indian/South Asian diaspora (and their visiting friends and relatives) but will also serve those keen to explore
Having speeded up deliveries to cash-strapped airlines, Airbus has announced that it intends to increase production of its popular single-aisle jets, the A-320 Family, from 40 to 47 units a month in the third-quarter of 2021, in an attempt to stop burning cash and demand permitting. The A320 Family of jets have been identified as
In April Boeing announced its intentions to reduce its 160,000-strong workforce by 10%. Following the fourth consecutive quarterly loss, the company’s CEO, Dave Calhoun, announced that by the end of 2020 Boeing’s workforce will be reduced to 130,000, cutting job numbers by 14,000 more than anticipated. “As we align to market realities, our business units
