Around the World
June 15, 2020
A look at the world’s airlines, including end-of-week equity prices
Around the World: June 15, 2020
| Airline Name | Change From Last Week | Change From Last Year | Comments |
|---|---|---|---|
| American | -10% | -49% | Hasn’t yet closed on CARES Act loan from Washington; expects to do so by end of this month, pledging its loyalty plan as collateral |
| Delta | -11% | -46% | Project it’s undertaking to upgrade Los Angeles LAX facilities could be ready as early as the end of 2022; faster to work when there are no passengers |
| United | -6% | -54% | U.S. airline stock momentum reverses course last week amid broader market slump; concerns mounting about Covid’s spread |
| Southwest | -6% | -32% | Houston, experiencing a major Covid outbreak, one of Southwest’s largest markets |
| Alaska | -10% | -38% | President Ben Minicucci tells Seattle Times airline is now up to handling about 24k pax a day; was 5k at low point in April; job cuts coming |
| JetBlue | -11% | -37% | Still blocking middle seats on Airbus planes; blocking aisle seats on E-Jets; policy will continue at least through end of July |
| Hawaiian | -16% | -40% | As of Sunday, Hawaii had 723 active Covid-19 cases; that’s still low but numbers growing |
| Spirit | -17% | -63% | Qualifies for $741m in government credit help, if it wants to take it |
| Frontier | (not publicly traded) | All pax and crews subject to temperature screening; anyone with 100.4F degree fever or higher won’t be permitted to travel | |
| Allegiant | -9% | -23% | Paid roughly 91 cents a gallon for fuel last month, an unthinkably low number; paid $2.18 last year |
| SkyWest | -19% | -43% | Its home state Utah, along with neighboring Colorado, saw biggest gains in personal income last year |
| Air Canada | -4% | -51% | Operated its last B767 flight on Jun 2, from Montreal to Toronto; plane first entered Air Canada’s fleet in 1982 |
| WestJet | (not publicly traded) | Quebec province harder hit by Covid than other provinces, including even Ontario which has more people | |
| Aeromexico | -10% | -62% | Mexico already completely reopen to international tourists |
| Volaris | -16% | -36% | Last year, 45m international tourists came to Mexico, making it one of the largest tourist spots in the world |
| LATAM | -8% | -78% | Chilean gov’t still debating aid for airlines; president of the country Sebastian Pinera used to own large stake in Latam |
| Gol | -1% | -40% | Has a new collective bargaining agreement in place with main union representing pilots, flight attendants; valid for next 18 months |
| Azul | 5% | -50% | Will it be the next South American bankruptcy domino to fall? Working hard to avoid it |
| Copa | -6% | -44% | Argentina revises policy on allowing airlines to restart flights; had been restricted until September |
| Avianca | 40% | -86% | Will Colombia’s government provide financial aid in exchange for an ownership stake? Could be a shareholder in the post-bankruptcy Avianca |
| Emirates | (not publicly traded) | IATA’s forecast shows airlines will lose an average of $37.54 for every passenger they fly this year | |
| Qatar | (not publicly traded) | Flew 18% of the entire worldwide airline industry’s RPK traffic in April; kept its planes active with repatriation missions | |
| Etihad | (not publicly traded) | Has now operated two flights to Israel carrying aid to Palestinian communities | |
| Air Arabia | 2% | 9% | Royal Air Maroc says it’s losing more than $5m a day as Covid tears into demand |
| Turkish Airlines | 0% | 1% | Restarted international routes last week, focusing at first on Europe; longhaul routes coming back later this month |
| Kenya Airways | 23% | -26% | Segment on CNBC Africa last week discussed merits of fully nationalizing the airline |
| South Africa Air. | (not publicly traded) | Plan for revival again pushed back; now supposed to come this week | |
| Ethiopian Airlines | (not publicly traded) | Ethiopian economy still expected to grow this year; subsistence farming largely unaffected by Covid; roughly 80% of Ethiopians are farmers | |
| IndiGo | -16% | -40% | Fleet at the end of Q1: 1 A321 NEO, 71 A320 NEOs, 130 A320 CEOs, 15 ATRs |
| Air India | (not publicly traded) | Pakistan’s national airline PIA, which suffered a crash last month, losing almost $40m a month | |
| SpiceJet | 1% | -64% | Expanding its cargo network; now offering routes to Egypt and Kyrgyzstan |
| Lufthansa | -4% | -42% | Raising the specter of enormous layoffs as it asks unions for concessions; says more than 20k jobs could disappear |
| Air France/KLM | -13% | -43% | Reuters profile of Toulouse highlights its growing troubles as Airbus sees business evaporate |
| BA/Iberia (IAG) | -16% | -41% | British Airways and other U.K. airlines livid about country’s quarantine policy; suing to have it overturned |
| SAS | -19% | -33% | Swedish regional airline BRA, in bankruptcy, hopes to resume flying this fall |
| Alitalia | (not publicly traded) | Might wind up getting some of Air Italy’s assets; carrier stopped flying earlier this year | |
| Finnair | -77% | -85% | One condition of receiving gov’t aid: It’s not permitted to buy 10% or more of a competitor |
| Virgin Atlantic | (not publicly traded) | Has lawyers ready to go in case it needs to file for bankruptcy; still hoping to restructure out of court | |
| easyJet | -10% | -13% | Rival Jet2 pushes back restart date to July 15; seeing lots of “pent-up demand” but U.K. quarantine a concern |
| Ryanair | -14% | 3% | European Commission calls for all intra-E.U. travel restrictions to end this week (Jun 15); phase out restrictions on non E.U. countries on July 1 |
| Norwegian | -26% | -90% | Asking shareholder approval to issue more equity or convertible debt on short notice if needed; could need funds to finance restoration of flying |
| Wizz Air | -10% | -12% | Polish media rife with discussions about LOT’s finances, union tensions, bankruptcy risk |
| Aegean | -11% | -51% | Expects to be up to about 1k flights per week by mid-July; 1,600 by the end of August |
| Aeroflot | -2% | -11% | Wants some of the A350s it’s supposed to get in the coming months to arrive closer to next summer’s peak season instead |
| S7 | (not publicly traded) | Restoring a big portion of its domestic flying this summer and the upcoming winter | |
| Japan Airlines | -6% | -37% | Will operate 12 routes to nine cities in North America next month (excluding six routes to Hawaii/Guam) |
| All Nippon | -4% | -27% | All Hawaii flights suspended indefinitely; routes flown with A380s |
| Korean Air | -4% | -38% | Planned takeover of Asiana Airlines by Hyundai conglomerate still uncertain |
| Cathay Pacific | -7% | -24% | Will hold a board meeting on Aug. 12 to announce its financial results for the first half of 2020; spoiler alert: they’ll be atrocious |
| Air China | -6% | -29% | Guizhou-based China Express orders 100 Comac planes; unspecified mix of ARJ21s and C919s |
| China Eastern | -4% | -28% | Says Sanya Int’l Airlines, its new venture in Hainan, will be a “boutique aviation brand” |
| China Southern | -4% | -27% | Temporarily suspending Guangzhou flights to Bangladesh’s capital Dhaka over Covid concerns |
| Singapore Airlines | -4% | -54% | State-backed issue of new stock bagged it $7b; has more fundraising firepower if needed |
| Malaysia Airlines | (not publicly traded) | Hoping for another cash injection by its lone shareholder, which is Malaysia’s government wealth fund | |
| AirAsia | 12% | -66% | Reportedly might get investment from a Korean conglomerate; also looking for capital elsewhere |
| Thai Airways | -3% | -58% | Full restructuring could take seven years, one of its key advisors says (Reuters) |
| VietJet | -1% | -7% | Indonesia’s Garuda avoids default by getting creditors to agree to a loan restructure |
| Cebu Pacific | 7% | -46% | Hasn’t planned any international flying yet; waiting for more clarity on easing border restrictions |
| Qantas | -3% | -20% | Chinese investment, a big boost to Australia’s economy, threatened by both Covid and diplomatic strains |
| Virgin Australia | 0% | -49% | Bankruptcy administrators still intend to have binding sale agreement in place by June 30 |
| Air New Zealand | -1% | -40% | IATA says any bilateral/multilateral travel bubbles must be just temporary; goal is to safely open the whole world to cross-border travel |
| Brent Crude Oil | -8% | -36% | Wild fluctuations up and down continue; oil moving roughly in tandem with stocks |
Some stocks traded on multiple exchanges; not intended for trading purposes.