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Category: Covid-19 (Page 12 of 34)

Boeing Reports Fourth-Quarter Results

January 27, 2021 /

Fourth Quarter 2020

  • Financial results significantly impacted by COVID-19, 737 MAX grounding, and commercial widebody programs
  • 777X program recorded $6.5 billion pre-tax charge; first delivery expected in late 2023
  • 737 MAX began receiving regulatory approval to resume operations and restarted deliveries
  • Revenue of $15.3 billion, GAAP loss per share of ($14.65) and core (non-GAAP)* loss per share of ($15.25)

Full-Year 2020

  • Revenue of $58.2 billion, GAAP loss per share of ($20.88) and core (non-GAAP)* loss per share of ($23.25)
  • Operating cash flow of ($18.4) billion; cash and marketable securities of $25.6 billion
  • Total backlog of $363 billion, including more than 4,000 commercial airplanes
  • Strengthening safety processes, improving performance, managing liquidity and transforming for the future 
Table 1. Summary Financial ResultsFourth QuarterFull Year
(Dollars in Millions, except per share data)20202019Change20202019Change
Revenues$15,304$17,911(15)%$58,158$76,559(24)%
GAAP
Loss From Operations($8,049)($2,204)NM($12,767)($1,975)NM
Operating Margin(52.6)%(12.3)%NM(22.0)%(2.6)%NM
Net Loss($8,439)($1,010)NM($11,941)($636)NM
Loss Per Share($14.65)($1.79)NM($20.88)($1.12)NM
Operating Cash Flow($4,009)($2,220)NM($18,410)($2,446)NM
Non-GAAP*
Core Operating Loss($8,377)($2,526)NM($14,150)($3,390)NM
Core Operating Margin(54.7)%(14.1)%NM(24.3)%(4.4)%NM
Core Loss Per Share($15.25)($2.33)NM($23.25)($3.47)NM
*Non-GAAP measure; complete definitions of Boeing’s non-GAAP measures are on page 6, “Non-GAAP Measures Disclosures.”

The Boeing Company [NYSE: BA] reported fourth-quarter revenue of $15.3 billion, reflecting lower commercial deliveries and services volume primarily due to COVID-19 as well as 787 production issues, partially offset by a lower 737 MAX customer considerations charge in the quarter compared to the same period last year (Table 1). GAAP loss per share of ($14.65) and core loss per share (non-GAAP)* of ($15.25) reflected a $6.5 billion pre-tax charge on the 777X program and a tax valuation allowance, partially offset by a lower 737 MAX customer considerations charge. Boeing recorded operating cash flow of ($4.0) billion. 

“2020 was a year of profound societal and global disruption which significantly constrained our industry. The deep impact of the pandemic on commercial air travel, coupled with the 737 MAX grounding, challenged our results. I am proud of the resilience and dedication our global team demonstrated in this environment as we strengthened our safety processes, adapted to our market and supported our customers, suppliers, communities and each other,” said Boeing President and Chief Executive Officer Dave Calhoun. “Our balanced portfolio of diverse defense, space and services programs continues to provide important stability as we lay the foundation for our recovery. While the impact of COVID-19 presents continued challenges for commercial aerospace into 2021, we remain confident in our future, squarely-focused on safety, quality and transparency as we rebuild trust and transform our business.”

The return to service of the 737 MAX in the U.S. and several other markets was an important step, and Boeing continues to follow the lead of global regulators and support its customers. Since the FAA’s approval to return to operations, Boeing has delivered over 40 737 MAX aircraft and five airlines have safely returned their fleets to service as of January 25, 2021, safely flying more than 2,700 revenue flights and approximately 5,500 flight hours.

Boeing now anticipates that the first 777X delivery will occur in late 2023. This schedule, and the associated financial impact, reflect a number of factors, including an updated assessment of global certification requirements, the company’s latest assessment of COVID-19 impacts on market demand, and discussions with its customers with respect to aircraft delivery timing.

Click the link below to read the full press release!

https://boeing.mediaroom.com/2021-01-27-Boeing-Reports-Fourth-Quarter-Results

Alaska Air Group Reports Fourth Quarter 2020 and Full-Year Results

January 26, 2021 /

Financial Results:

  • Reported net loss for the fourth quarter and full year 2020 under Generally Accepted Accounting Principles (GAAP) of $430 million, or $3.47 per diluted share, and $1.3 billion, or $10.59 per diluted share. These results compare to fourth quarter 2019 net income of $181 million, or $1.46 per diluted share, and full year 2019 net income of $769 million, or $6.19 per diluted share. 
  • Reported adjusted net loss for the fourth quarter and full year 2020, excluding payroll support program wage offsets, special items, and mark-to-market fuel hedging adjustments, of $316 million, or $2.55 per diluted share, and $1.3 billion, or $10.17 per diluted share. These results compare to fourth quarter 2019 adjusted net income of $181 million, or $1.46 per diluted share, and full year 2019 adjusted net income of $798 million, or $6.42 per diluted share. 
  • Reported adjusted net debt of $1.7 billion, flat from December 2019 despite a 59% decline in operating revenues for the year. 
  • Reported a debt-to-capitalization ratio, including certain short-term borrowings, of 61%. 
  • Held $3.3 billion in unrestricted cash and marketable securities as of Dec. 31, 2020. 

Liquidity and Fleet Updates:

  • Accessed approximately $5 billion in new liquidity in 2020, including $1.2 billion raised in the capital markets and approximately $600 million in bank financing. 
  • Reached an agreement with the U.S. Treasury in January 2021 to receive an extension of payroll support totaling $533 million, $266 million of which was received on Jan. 15, 2021. 
  • Extended the period available to draw funds under the CARES Act loan program from March 26, 2021 to May 28, 2021. 
  • Announced plans to expand the mainline fleet and restructure the existing aircraft purchase agreement with Boeing. In total, Air Group will take delivery of 68 737-9 MAX aircraft between 2021 and 2024, inclusive of 32 previous purchase commitments and 13 aircraft to be leased from Air Lease Corporation. 
  • Took delivery of Alaska’s first 737-9 MAX aircraft on January 24, 2021, which is expected to enter revenue service on March 1, 2021. 
  • Permanently removed an additional 20 Airbus A320 aircraft from the fleet in the fourth quarter, resulting in 40 Airbus aircraft removed in 2020. A total of 31 Airbus aircraft remain in the operating fleet as of the end of the year. 
  • Held $3.4 billion in cash and marketable securities as of Jan. 22, 2021, and total liquidity of $5.2 billion. 

Operational and Guest Safety Updates

  • Announced seven new routes in the fourth quarter, including three “fun and sun” destinations connecting Anchorage to Las Vegas, Denver and San Francisco, and expanded service from Southern California to Austin and New York. 
  • Eliminated change fees and extended the flexible travel policy for tickets purchased through March 31, 2021. 
  • Implemented Next-Level Care initiative, which includes more than 100 measures designed to create a safe experience for guests and employees. These efforts were highlighted in the Alaska Safety Dance video. 
  • Named the safest U.S. airline by AirlineRatings.com in their annual Top 20 Safest Airline report. 
  • Launched the West Coast International Alliance with American Airlines on Jan. 1, 2021, which will unlock new benefits for Alaska Mileage Plan members in the spring. 
  • Partnered with healthcare providers to offer rapid and standardized COVID-19 testing for those guests traveling to destinations that require a negative result. 
  • Received diamond level certification from the Airline Passenger Experience Association for the health and safety standards Alaska and Horizon Air implemented to keep guests safe throughout their journey. 
  • Launched pre-clearance program for guests traveling to the Hawaiian Islands from the West Coast with an approved negative COVID-19 test. 
  • Announced a partnership with Microsoft to use sustainable aviation fuel to offset the environmental impact of certain business air travel. 
  • Announced oneworld benefits for elite Mileage Plan members, providing tier status in the global alliance to Alaska’s elite members, as the company works toward joining oneworld on March 31, 2021. 

Alaska Air Group Inc. (NYSE: ALK) today reported a fourth quarter 2020 GAAP net loss of $430 million, or $3.47 per diluted share, compared to net income of $181 million, or $1.46 per diluted share in 2019. Excluding the impact of payroll support program wage offsets, special items and mark-to-market fuel hedge adjustments, the company reported a fourth quarter adjusted net loss of $316 million, or $2.55 per diluted share, compared to adjusted net income of $181 million, or $1.46 per diluted share in the fourth quarter of 2019. 

The company reported a full-year 2020 GAAP net loss of $1.3 billion, compared to net income of $769 million in the prior year. Excluding the impact of payroll support program wage offsets, special items and mark-to-market fuel hedge adjustments, the company reported an adjusted net loss of $1.3 billion, or $10.17 per diluted share for 2020, compared to adjusted net income of $798 million, or $6.42 per diluted share in 2019.

Click the link below to view the full results!

https://newsroom.alaskaair.com/2021-01-26-Alaska-Air-Group-reports-fourth-quarter-2020-and-full-year-results

DHL Expands Medical and Pharmaceutical Logistics Capacity in Germany

January 24, 2021 /
  • DHL Global Forwarding opens expanded Leipzig Life Sciences & Healthcare Hub
  • Frankfurt, Hamburg and Leipzig GxP facilities successfully achieve CEIV IATArecertification
  • Specially trained staff and state-of-the-art equipment for storage and handling oftemperature-controlled pharmaceutical products and drugs

DHL Global Forwarding, Deutsche Post DHL Group’s air and ocean freight specialist, has expanded its Life Sciences & Healthcare (LSH) facility in Leipzig by approximately 2,500 square meters. The center is very close to Leipzig Airport and houses state- of-the-art equipment for storing and handling temperature-controlled pharmaceutical and medical products, such as vaccinations. After Frankfurt am Main, Leipzig is the second DHL Global Forwarding facility to be expanded in terms of capacity and equipment. DHL has successfully achieved IATA CEIV Pharma recertification for its GxP (good practice) facilities in Frankfurt am Main, Hamburg and Leipzig, making the company ideally prepared in Germany to meet the logistical requirements related to importing and exporting Covid-19 vaccinations.

The previous trans shipment and warehouse space of approximately 2,200 square meters in Leipzig was more than doubled when the expansion was completed in the last quarter of 2020. The second warehouse covers more than 2,500 square meters and is divided into two temperature zones. In the larger zone comprising approximately 1,700 square meters, the temperature can be regulated between 15 and 25°C. The smaller zone of around 850 square meters can be cooled down to 2-8°C. This allows pharmaceutical products to be stored at an appropriately cool temperature, to ensure their integrity. Dry ice handling for passively cooled transport containers and handling of actively cooled transport containers are also part of the standard repertoire. The immediate proximity to Leipzig Airport ensures fast import and export times. Of course, the facility also operates under the highest safety and security standards, with systems in place to immediately report temperature deviations and fire risks, as well as break-ins.

DHL and IATA are jointly committed to ensuring that the pharmaceutical industries regulatory requirements are met. A standardized approach in air freight increases productivity, accuracy, and reliability, while enabling transport in compliance with all applicable regulations. DHL began IATA CEIV Pharma certification of its facilities worldwide in 2016, raising the bar in pharmaceutical logistics. After independent third-party audits and training courses for employees on site, the DHL GxP facilities in Frankfurt, Hamburg and Leipzig have successfully renewed the quality label. DHL Global Forwarding thus enhances transportation and storage quality levels of pharmaceutical goods, and the DHL station exceeds its usual quality standards. At each location, IATA verifies compliance with its Temperature Control Regulations (TCR), the European Union’s GDP (Good Distribution Practices) guidelines, and further requirements of the World Health Organization (WHO) and other regulatory bodies.

As the leader in the life sciences and healthcare sector, DHL provides its employees, at all levels, and in all functional areas around the world, with vital tools to meet the requirements of both its customers and the supervisory authorities. For example, it provided a special training program to implement IATA regulation standards at scale in key GxP (good practice) facilities worldwide. The Certified Life Sciences Specialist (CLSS) program, offered as part of the Certified initiative, provides a comprehensive curriculum of mandatory training and specialized courses and materials to convey the knowledge needed in this highly specialized industry. As with all of DHL’s temperature-controlled locations, all employees in Frankfurt, Hamburg and Leipzig who are involved in handling life sciences and healthcare products have successfully completed the training and are certified Life Science Specialists. This ensures that sensitive shipments are handled with the utmost care and in compliance with the highest industry standards.

Rex Refreshes Uniforms For Domestic Launch

January 23, 2021 /

As Rex’s inaugural domestic services between Sydney and Melbourne fast approach, Rex today unveils its refreshed cabin crew uniforms.

The new uniform retains the essence of Rex’s signature country hospitality but is presented in a classic yet elegant style.

Rex’s National Flight Attendant Manager, Donna Griffith, said, “This fresh new look is intended to contemporise Rex’s signature country hospitality. We have chosen a clean, fuss-free look that is simple yet elegant. Materials and cut have been carefully selected to provide comfort and practicality for my cabin crew.”

“We are very proud that our uniforms are not designed by any famous designer. As with everything else we do in Rex, we have done everything in-house, from the design to the selection of material. This is who we are. This is what we do. This is why we are one of the most successful airlines in the world.”

Rex services between Sydney and Melbourne commence on 1 March 2021 with fares on sale from $79. Other city services will follow shortly after.

Please refer to the photos appended to this media release.

Rex is Australia’s largest independent regional and domestic airline operating a fleet of 60 Saab340 aircraft (pre-COVID) on 1,500 weekly flights to 59 destinations throughout all states in Australia. Rex will begin its domestic services with six 737-800NGs in March 2021. In addition to the airline Rex, the Rex Group comprises wholly owned subsidiaries Pel-Air Aviation (air freight, aeromedical and charter operator) and the two pilot academies, Australian Airline Pilot Academy in Wagga Wagga and Ballarat.

Lufthansa to Operate A350-900 Flight from Hamburg to the Falkland Islands

January 21, 2021 /

On February 1, 2021, Lufthansa will be departing on the longest passenger flight in the history of its company, marking one of the most unique flights the airline has ever carried out. On behalf of the Alfred Wegener Institute, Helmholtz Centre for Polar and Marine Research (AWI) in Bremerhaven, the Lufthansa Group’s most sustainable aircraft, an Airbus A350-900, will be flying 13,700 kilometers nonstop from Hamburg to Mount Pleasant in the Falkland Islands. The flight time is calculated at around 15:00 hours. There are 92 passengers booked for this charter flight LH2574, half of which are scientists and the other half, being the ship crew for the upcoming expedition with the Polarstern research vessel.

“We are pleased to be able to support a polar research expedition during these difficult times. Commitment to climate research is very important to us. We have been active in this field for more than 25 years and have equipped selected aircraft with measuring instruments. Since then, scientists all around the world have been using the data collected during the voyage to make climate models more precise and improve weather forecasts,” says Thomas Jahn, fleet captain and project manager Falkland.  Since the hygiene requirements for this flight are extremely high, Captain Rolf Uzat and his 17-member crew entered a 14-day quarantine last Saturday, the same time that the passengers did. “Despite the crew restrictions for this particular flight, 600 flight attendants applied for this trip,” says Rolf Uzat.

The preparations for this special flight are immense. They include additional training for the pilots via special electronic maps for flight and landing as well as managing the kerosene available at the Mount Pleasant military base for the return flight. The Airbus A350-900 is currently stationed in Munich, where it is being prepared for the flight. In Hamburg, the aircraft is loaded with additional cargo and baggage, which has been extensively disinfected and will remain sealed until departure. Besides the catering, there are additional containers for the residual waste on board, since this can only be disposed after the aircraft arrives back in Germany. The Lufthansa crew includes technicians and ground staff for on-site handling and maintenance who will quarantine after landing in the Falkland Islands due to government requirements. The return flight LH2575, is scheduled to depart for Munich on 03 February and will be carrying the Polarstern crew, which had set out from Bremerhaven on December 20 to resupply the Neumayer Station III in Antarctica, and must now be relieved.

In order to make research as climate-friendly as possible, the Alfred Wegener Institute will offset CO2 emissions from business flights via the non-profit climate protection organization atmosfair – which is also the case for this particular flight.  The institute donates funds for biogas plants in Nepal for every mile flown, thereby reducing the same amount of CO2 emissions. This helps maintain the overall CO2 balance regardless of where in the world the CO2 emissions can be reduced. In addition to pure CO2 emissions, other pollutants such as nitrogen oxides and soot particles are also taken into account.

Preparations for the special flight began together with the Alfred Wegener Institute in the summer of 2020. The usual route via Cape Town was not feasible due to the infection situation in South Africa, leaving only the route via the Falkland Islands. After landing on the Falkland Islands, scientific staff and crew members will continue their journey to Antarctica on the research vessel Polarstern.

United Airlines Announces 2020 Financial Results

January 20, 2021 /

CHICAGO, Jan. 20, 2021 /PRNewswire/ — United Airlines (NASDAQ: UAL) today announced fourth-quarter and full-year 2020 financial results. The company continues its efforts to lead the industry as it manages the most disruptive crisis in aviation history. 

Since the beginning of the COVID-19 crisis, United has raised over $26 billion in liquidity and made important progress in reducing core cash burn (see detailed chart below) to ensure the company’s survival. Over the last three quarters, the company has identified $1.4 billion of annual cost savings and has a path to achieve at least $2.0 billion in structural reductions moving forward. United ended 2020 with $19.7 billion in available liquidity1, including an undrawn revolver capacity and funds available under the CARES Act loan program from the U.S. Treasury.

Having stabilized its financial foundation, the company expects 2021 to be a transition year that’s focused on preparing for a recovery. United has resumed heavy maintenance and engine overhauls, investments that are essential to recovery when demand returns. The combination of structural cost reduction and timely investments will help set up United to exceed its 2019 adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) margin in 2023. The company expressed high confidence that it would achieve this target by 2023 – and said its ongoing recovery planning would help ensure the company was equipped to reach this level even sooner, if demand returns more quickly.

“Aggressively managing the challenges of 2020 depended on our innovation and fast-paced decision making. But, the truth is that COVID-19 has changed United Airlines forever,” said United Airlines CEO Scott Kirby. “The passion, teamwork and perseverance that the United team showed in 2020 is exactly what will help us build a new United Airlines that’s better, stronger and more profitable than ever. I could not be prouder of – and more grateful to – this team, which is going to lead us there.”

Click the link below to see the full press release!

https://hub.united.com/2021-01-20-united-announces-2020-financial-results-2021-will-focus-on-transition-to-recovery-expects-to-exceed-2019-adjusted-ebitda-margin-by-2023-2650045521.html

Air New Zealand Updates International Schedule Through June

January 19, 2021 /

Air New Zealand is extending its COVID-19 international schedule through to 30 June 2021 in response to ongoing travel restrictions and low passenger demand. The schedule aims to keep air links open for essential travel and cargo movement on key trade routes.

Air New Zealand’s General Manager Networks Scott Carr says the airline has been progressively updating its schedule over the past 12 months in response to the global pandemic.

“Our schedule is driven by a number of factors including airport takeoff and landing slots which generally operate on a ‘use it or lose it’ basis. This means if you don’t fly the majority of your schedule you may lose access to airports. We have been waiting to receive slot alleviation for the April to end of June period, which means our regular slot times are protected even if we can’t fly them all. As this is now progressing, we are now able to move ahead with adapting our schedule through to 30 June to better reflect the low demand environment we are currently operating in.”

“We understand these are very uncertain times and it can be tricky for people looking to get home with a lot of things needing to line up including flights, testing and managed isolation bookings. We feel a responsibility to ensure Kiwis can come home and are doing our best to make this happen as smoothly as possible. We strongly recommend customers check government border restrictions for the relevant countries and/or individual passport requirements before booking a ticket.”

The airline’s customer service team is supporting those affected by these changes. Customers booked via a travel agent, including a third-party website (e.g. Expedia, Booking.com) should speak with their agent. Air New Zealand’s dedicated COVID-19 information hub is being updated continuously and customers should check this first, before calling the airline’s contact centre.

The updated schedule from 28 March 2021 to 30 June 2021 is below. There is no change to trans-Tasman services at this stage. All services are subject to change in line with global travel and border restrictions.

Pacific servicesFrequency
Auckland – NadiOne return service per week
Auckland – NiueOne return service per week
Auckland – RarotongaDaily return service
Auckland – SamoaOne return service per week
Auckland – TongaOne return service per week
Sydney – Norfolk IslandThree return services per week
Brisbane – Norfolk IslandThree return services per week
Long haul servicesFrequency
Auckland – Los AngelesTwo return services per week
Auckland – Hong KongTwo return services per week
Auckland – ShanghaiTwo return services per week
Auckland – TokyoOne return service per week
Auckland – SeoulOne return service per month

Air New Zealand Supports ESR to Get Smart with Saliva

January 18, 2021 /

Air New Zealand is teaming up with the Institute of Environmental Science and Research (ESR) to look at the effectiveness of saliva testing in detecting COVID-19.

Starting next week, Air New Zealand employees who are currently undertaking regular surveillance testing under the Ministry of Health testing order will be invited to participate in the study.

The purpose of this study is to see if a saliva sample is an accurate, easy and acceptable method of detecting COVID-19 compared to the current nasopharyngeal swab test. The study has recently been given the go ahead by the Ministry of Health National Health and Disability Ethics Committee.

Air New Zealand Chief Medical Officer Dr Ben Johnston says the airline is keen to investigate how to make the testing process as simple, easy and comfortable as possible for its crew, pilots and airport staff who are tested on a regular basis.

“It’s great to team up with ESR on this trial to see if a faster and more non-invasive option is available as it’s likely surveillance testing for COVID-19 will be required for some time into the future.”

“This study will bring us one step closer to looking at the effectiveness of saliva testing, which would greatly improve the experience for our people who are committed to keeping New Zealanders safe.”

ESR Chief Scientist Dr Brett Cowan says Air New Zealand is an ideal partner to test the science of saliva testing.

“Air New Zealand is joining us on this scientific exploration for the benefit of all New Zealanders, so that we may unpack how this tool can or can’t be used in our unique situation and context. This study will go a long way to determining if saliva testing can be added to New Zealand’s toolbox as we look to strengthen our defense against COVID-19.”

The study will run over two to three months and will take place alongside the existing nasopharyngeal swab. ESR will compare the accuracy of both the saliva and regular nasopharyngeal in their laboratories.

American Airlines Introduces Health Passport for All International Travel to US

January 17, 2021 /
  • American is the first U.S. airline to introduce a health passport for inbound travel to the United States from all international destinations. 
  • Customers traveling to the United States can use the VeriFLY app to confirm testing and other COVID-19 travel requirements beginning Jan. 23.

American Airlines is the first U.S. airline to introduce an easy way to provide results from a negative coronavirus (COVID-19) test and other completed documents required for international travel into the United States. The VeriFLY app, a mobile health passport that helps customers understand and verify their travel requirements, will be available for travelers starting Saturday, Jan. 23, for travel from all international destinations. American is expanding access to the app in support of the U.S. government’s requirement that all passengers 2 years of age and older traveling to the United States from any international location test negative for COVID-19 within three calendar days of departure.

“We’re expanding our work with VeriFLY to quickly evolve our usage of the app and make international travel easier for our customers,” said Julie Rath, Vice President of Customer Experience at American. “We support the implementation of a global program to require COVID-19 testing for travelers to the United States, and we want to do everything we can to make travel a seamless experience for customers. We’ve received positive feedback about the app so far and look forward to more customers having the opportunity to use it.”

Customers can already use VeriFLY to streamline their travel from the U.S. to several countries including Jamaica, Chile, Colombia, El Salvador, Guatemala and Honduras. To date, thousands of American Airlines customers have traveled using the app.

Using VeriFLY

Using the VeriFLY app is simple. After downloading the app from the iOS App Store or Google Play Store, customers create an account, enter their destination and upload required documentation such as proof of a negative COVID-19 test.

Customers are encouraged to review travel requirements to their destination, including any restrictions on passport or point of origin. Visit aa.com to learn more about VeriFLY and the airline’s preflight testing program.

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