Around the World
June 8, 2020
Around the World: June 8, 2020
| Airline Name | Change From Last Week | Change From Last Year | Comments |
|---|---|---|---|
| American | 77% | -39% | Filled 15% of its seats in April, 41% in the first 23 days of May, and 55% from May 24-29 |
| Delta | 36% | -38% | Look at those stock gains last week! Delta jumps less than American or United but investor bullishness rising all around |
| United | 51% | -48% | Latest U.S. jobs report better than expected but unemployment rate still high at 13% |
| Southwest | 19% | -24% | Still intends to open its newest city, Steamboat Springs, Colo., sometime before the end of this year |
| Alaska | 25% | -31% | Of its roughly 70 Airbus planes, all but about 10 are leased rather than owned; inherited with Virgin America takeover |
| JetBlue | 36% | -24% | Sabre, the big GDS, announces big restructuring that includes job cuts |
| Hawaiian | 34% | -27% | Has its website in four different languages: English, Japanese, Chinese, Korean |
| Spirit | 75% | -55% | Load factor for all North American airlines was just 15% in April, IATA reports; U.S. obligation to maintain service to all markets depressed figure |
| Frontier | (not publicly traded) | Restoring aircraft and flights more aggressively than others; will have 75% of its planes back flying by next month (Travel Weekly) | |
| Allegiant | 16% | -14% | Las Vegas, its home city, open to tourists again; ad campaign to lure people back delayed due to nation’s civil unrest |
| SkyWest | 33% | -30% | Leisure and hospitality, including restaurants and hotels, by far the biggest source of job losses in current unemployment crisis |
| Air Canada | 28% | -48% | Raised more than $1b by issuing new bonds and convertible shares; some reports suggest it might be losing interest in Transat |
| WestJet | (not publicly traded) | Changes refund policy; some customers now being given cash refunds rather than future flight credits if requested | |
| Aeromexico | 22% | -58% | Mexico’s government says it and other big companies haven’t paid their share of taxes; demanding payment in time of crisis |
| Volaris | 29% | -19% | Announces another round of new flights as it builds back schedules |
| LATAM | 83% | -75% | Layoffs begin; almost 1,000 workers (based in Chile, Peru, and Colombia) will leave company |
| Gol | 55% | -34% | Talking to unions about extending temporary pay cuts (Valor) |
| Azul | 48% | -48% | Aerolineas Argentinas CEO tells Bloomberg he’ll focus on expanding cargo operations even beyond current crisis |
| Copa | 30% | -38% | Jump in Covid cases leads Panama to reimpose quarantines |
| Avianca | 49% | -90% | LCC rival Viva Air asking Colombia’s government for $50m in credit support, local news sources there report |
| Emirates | (not publicly traded) | Will decide on the future size of its fleet in the coming weeks, Reuters reports | |
| Qatar | (not publicly traded) | Boasts of being the world’s largest carrier right now, with more than 15k flights operated since crisis began; giving it experience in protecting pax health | |
| Etihad | (not publicly traded) | Wizz Air said its new Abu Dhabi-based unit will be indistinguishable from the rest of the airline in terms of service, branding | |
| Air Arabia | 8% | 12% | IATA singles out Tunisia for a scolding: help your airlines or else, big hit to jobs and GDP |
| Turkish Airlines | 1% | 2% | As of April 1, its fleet featured 25 all-cargo planes, including seven on wet-lease |
| Kenya Airways | 5% | -36% | Precision Air, a regional carrier in Tanzania, reports big losses for 2019 |
| South Africa Air. | (not publicly traded) | Air Mauritius not making much progress in restructuring, Bloomberg reports; employees resisting concessions | |
| Ethiopian Airlines | (not publicly traded) | Ethiopia still in five-month state of emergency to curtail Covid-19 spread | |
| IndiGo | 23% | -29% | Says it typically has a one-year planning horizon (for staff, network, fleet, etc.); currently planning just three months in advance |
| Air India | (not publicly traded) | Pilots resisting management efforts to cut pay and enact other cost-cutting moves | |
| SpiceJet | 17% | -65% | One of the few carriers that hasn’t yet announced its calendar Q1 results |
| Lufthansa | 19% | -38% | Tells FVW that Eurowings still aims to break even next year |
| Air France/KLM | 37% | -31% | Likely to announce new turnaround plan next month; KLM unions bracing for layoffs |
| BA/Iberia (IAG) | 43% | -30% | British Airways and others threatening to sue the U.K. for imposing 14-day quarantine on incoming travelers; Ireland has same policy |
| SAS | 18% | -18% | Growing from 15 to 30 planes this month; revival includes 16 new shorthaul int’l routes from Copenhagen |
| Alitalia | (not publicly traded) | Relaunch plan running into E.U. regulatory headwinds; Brussels pushing back (Il Sole 24 Ore) | |
| Finnair | 28% | -29% | Filled 30% of its seats in May, operating only passenger flights within Europe; all Asia and North America flights grounded |
| Virgin Atlantic | (not publicly traded) | Will recommence flights on July 20; first routes back will be Heathrow to New York JFK, Los Angeles, Orlando, Hong Kong, Shanghai | |
| easyJet | 31% | -1% | Tourism giant TUI reaches MAX compensation deal with Boeing; also allows carrier to push back future MAX deliveries |
| Ryanair | 16% | 23% | Buzz, its Polish unit, says it’s talking to tour operators about offering them charter flights to various sunshine spots for this winter, next summer |
| Norwegian | 13% | -88% | Expects longhaul B787 operation to be about 40% smaller than what it originally planned for 2020 |
| Wizz Air | 9% | 2% | Only interested in grabbing available Lufthansa Frankfurt slots if fees there drop; abandoned earlier Frankfurt expansion for cost reasons |
| Aegean | 5% | -44% | The Economist: 59% of all tourism-related revenue in Greece are booked from July to September |
| Aeroflot | 15% | -7% | Hasn’t made a final decision yet on whether to pay dividends this year; surprising it’s still even an option given cash burn |
| S7 | (not publicly traded) | Russian oil giant Lukoil says Q1, 2020 aircraft fuel sales fell nearly 20% from Q4, 2019 | |
| Japan Airlines | 12% | -31% | New LCC Zipair postponing launch of pax service but will temporarily fly cargo only to Bangkok BKK from Tokyo NRT |
| All Nippon | 7% | -24% | Allowing loyalty plan members to exchange accrued mileage for donations to healthcare workers fighting Covid-19 |
| Korean Air | 0% | -36% | Large cargo business could make it one of the industry’s better performing airlines in Q2 |
| Cathay Pacific | 13% | -21% | Beijing’s latest attempt to assert control over Hong Kong could trigger exodus of residents; U.K. may offer quick path to citizenship |
| Air China | 17% | -24% | China’s Big Three have issued about $13b in new debt since start of crisis, according to the South China Morning Post |
| China Eastern | 8% | -25% | According to Bloomberg, China hasn’t bought any Boeing planes in two-and-a-half years |
| China Southern | 8% | -24% | China thinking about creating open skies area covering island of Hainan; would give unrestricted flight rights to foreign airlines |
| Singapore Airlines | 13% | -52% | Singapore positioned to benefit if Hong Kong becomes less friendly to foreign capital |
| Malaysia Airlines | (not publicly traded) | Indonesia’s Garuda said average domestic mainline fares rose 25% last year; Citilink’s fares rose 40%; result of gov’t fare regulations | |
| AirAsia | 25% | -70% | Indonesian unit won’t start flying again until June 19 |
| Thai Airways | 7% | -57% | Officially informs bondholders that it won’t be able to make repayments; default comes as it attempts turnaround in bankruptcy |
| VietJet | 1% | -6% | Vietnam getting widespread praise for its handling of Covid virus; puts it on track to welcome tourists soon |
| Cebu Pacific | 27% | -50% | Philippine gov’t says unemployment rate reached 17% in April; highest on record |
| Qantas | 16% | -15% | Announces more mainline and Jetstar domestic flying for June and July; could reach 40% of pre-crisis domestic capacity by end of July |
| Virgin Australia | 0% | -49% | The Australian profiles founder of Cyrus Capital, one of the remaining contenders to buy Virgin; has done past deals with Richard Branson |
| Air New Zealand | 20% | -36% | Assures investors it has no financial covenants attached to any of its borrowings, and no significant debt maturities until 2022 |
| Brent Crude Oil | 6% | -34% | Brent prices back up to $40 per barrel; still cheap but consistently rising in tandem with demand recovery; note also that U.S. dollar is starting to weaken |
Some stocks traded on multiple exchanges; not intended for trading purposes.