Around the World: March 23, 2020
| Airline Name | Change From Last Week | Change From Last Year | Comments |
|---|---|---|---|
| American | -27.5% | -66.5% | Operating cargo-only flights for the first time in nearly four decades (Bloomberg) |
| Delta | -44.3% | -57.2% | Investment fund seeking control of Korean Air looking to buy Delta's 15% stake |
| United | -41.2% | -69.3% | State Department tells U.S. citizens: Don't travel internationally right now |
| Southwest | -22.6% | -35.7% | Lost amid the Covid crisis: Salt Lake City experienced major earthquake last week |
| Alaska | -37.9% | -57.3% | Investor's Business Daily profiles CEO Brad Tilden; started at airline in 1991, became chief in 2012 |
| JetBlue | -36.0% | -56.2% | U.S. continues to pursue trade war with top trading partners; tariffs hiked on Airbus imports last week |
| Hawaiian | -38.8% | -65.9% | U.S. airports want bailout money too; Port Authority of NY/NJ wants $1.9b |
| Spirit | -42.4% | -83.5% | Stock has dropped the most in the past year of any airline on this page |
| Frontier | (not publicly traded) | Cargo airlines like FedEx in relatively better shape as e-commerce benefits from more home shopping; also carrying medical supplies | |
| Allegiant | -39.3% | -45.2% | Suspending construction on Florida Sunseeker resort, among other draconian measures to preserve cash |
| SkyWest | -26.2% | -60.9% | Silver Airways, which calls itself America's leading independent regional airline, pleads for "critical and immediate financial aid" |
| Air Canada | -51.1% | -60.5% | Toronto Bishop-based Porter Airlines shut down until at least June 1 |
| WestJet | (not publicly traded) | Canada's federal government even asking people to avoid travel to neighboring provinces | |
| Aeromexico | -6.4% | -51.6% | Mexico has only one reported Covid-19 death so far; all reported cases imported from outer countries (i.e. no local transmission yet) |
| Volaris | -32.6% | -50.7% | Traffic measured by RPMs was still up 21% y/y in February; March will be a different story |
| LATAM | -49.1% | -72.8% | Copper, Chile's largest export, selling for prices last seen during the financial crisis a decade ago |
| Gol | -34.8% | -76.3% | Latin America could be spared the worst of the pandemic if virus proves to be weaker in warm weather; that's still unclear |
| Azul | -44.2% | -66.5% | Founder David Neeleman, speaking on Fox News, sees hope in more advanced Covid-19 testing |
| Copa | -47.3% | -62.1% | Completely shut down until April 21, in accordance with Panamanian government directive |
| Avianca | -58.7% | -76.5% | Aside from giant Brazil, Ecuador currently the South American country with the most Covid-19 cases and deaths |
| Emirates | (not publicly traded) | Grounded all of its passenger flights this weekend; still running some cargo flights | |
| Qatar Airways | (not publicly traded) | This year's Farnborough Airshow in the U.K., scheduled for July, officially cancelled | |
| Etihad | (not publicly traded) | UAE reports its first two Covid-19 fatalities this weekend; 153 total cases as of Sunday | |
| Air Arabia | -9.8% | 10.4% | North Africa's Tunisair, perennially in financial trouble, expects to lose $25m this month alone |
| Turkish Airlines | -12.7% | -43.9% | Only international routes currently operating are to New York, Washington, Hong Kong, Moscow, Addis Ababa |
| Kenya Airways | -3.6% | -68.2% | AFRAA, the lobby group for African airlines, urging governments to support carriers; wants cost relief, subsidies |
| South Africa Air. | (not publicly traded) | All international flights suspended through May; South Africa declares "state of disaster" | |
| Ethiopian Airlines | (not publicly traded) | March 10 marked one year since its tragic B737 MAX crash | |
| IndiGo | -12.7% | -38.8% | Reports suggest LCC Go Air might be most financially troubled of India's private-sector airlines |
| Air India | (not publicly traded) | One U.S. dollar now buys 75 Indian rupees; exchange rate was 1-to-70 a year ago | |
| SpiceJet | -19.3% | -61.5% | Filled 93% of its seats as late as last month; Indian airlines now suffering from crisis as well |
| Lufthansa | -4.6% | -55.2% | Munich-based billionaire Hermann Thiele buys 5% stake in the company |
| Air France/KLM | -3.9% | -56.2% | French and Dutch governments, both shareholders in the airline, trying to coordinate their bailout measures |
| BA/Iberia (IAG) | -38.3% | -59.8% | CEO Willie Walsh postponing retirement amid crisis |
| SAS | -0.2% | -55.3% | ACI Europe estimates 80% of European airport costs are fixed, in other words must be paid regardless of pax volumes |
| Alitalia | (not publicly traded) | Italian airports handled 193m passengers in 2019, up 4% y/y | |
| Finnair | 4.6% | -53.9% | Cancelled annual shareholders meeting that was scheduled for last week |
| Virgin Atlantic | (not publicly traded) | Asking workers to take eight weeks of unpaid leave | |
| easyJet | -23.7% | -50.6% | Has more than $2b in cash, another $600m in undrawn credit; lots of valuable planes and airport slots |
| Ryanair | -16.5% | -25.1% | Credit card holdbacks, already an issue for weak European airlines pre-crisis, could cause more trouble now |
| Norwegian | 32.5% | -79.0% | Norway offering it loan guarantees but details still unclear. Will it be enough? |
| Wizz Air | -16.7% | -28.1% | U.K. airport operators strongly encouraging gov't to suspend air passenger duty for at least six months |
| Aegean | -19.8% | -50.5% | Charter flights generated 6% of its 2019 revenues |
| Aeroflot | -13.0% | -34.5% | Subsidiary Rossiya sells all of its scheduled flights using Aeroflot's "SU" IATA code |
| S7 | (not publicly traded) | Russian gov't warns of airline bankruptcy risk; on top of virus scare, weak ruble a major threat; UTair appears in most trouble | |
| Japan Airlines | 2.3% | -49.1% | Moody's, which assigns credit ratings to companies, says global airline capacity in 2020 could be down something like 35% y/y |
| All Nippon | 23.3% | -25.6% | Working with fellow Japanese firm Hitachi to automate schedule recovery process after irregular operations |
| Korean Air | -26.0% | -54.4% | Heavy debt load makes it extremely vulnerable; was troubled even before the crisis |
| Cathay Pacific | -15.0% | -40.0% | Hong Kong finance chief says economy in "deep water" (Bloomberg) |
| Air China | -17.5% | -35.7% | Will host March 31 board meeting to finalize 2019 financial results; China Eastern will hold meeting the same day |
| China Eastern | -9.7% | -33.7% | Started the month with 724 aircraft, 93 of them widebodies (B777, B787s, A350s, A330s) |
| China Southern | -10.4% | -36.3% | Rival LCC 9 Air, owned by Juneyao, actually launched a few new routes from Guangzhou and Shenzhen last month |
| Singapore Airlines | -16.4% | -38.3% | Singapore recorded first two Covid-19 deaths just this weekend; gov't praised for its crisis handling |
| Malaysia Airlines | (not publicly traded) | AAPA, which represents Asian airlines, tells governments: "Asia is still reeling from the COVID-19 pandemic" | |
| AirAsia | -17.1% | -75.6% | Independent internal investigation clears CEO Tony Fernandes of wrongdoing in Airbus corruption; will resume CEO duties |
| Thai Airways | -23.0% | -74.8% | Appoints new president to lead company during crisis; will take office this week |
| VietJet | 2.0% | -14.0% | Most foreigners currently banned from entering Vietnam; country still had no confirmed Covid-19 deaths as of Sat. |
| Cebu Pacific | -16.9% | -50.7% | Philippine Airlines says it's "severely affected" by Covid-19; will likely cancel more flights |
| Qantas | -25.8% | -57.4% | Says many of its ticketed customers are happily accepting credit for future travel rather than full refunds |
| Virgin Australia | -30.4% | -71.1% | One Australian dollar now worth a mere 58 U.S. cents; was worth about 71 cents this time last year |
| Air New Zealand | -35.7% | -57.0% | Establishes $500m credit line with N.Z.'s government; can access money if its cash drops below certain levels |
| Brent Crude Oil | -14.5% | -55.6% | If oil prices stay low as industry recovers, older less fuel-efficient aircraft could regain popularity |
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