Coronavirus

BOEING posted $2.4b net loss in 2Q20 (vs $2.9b loss in 2Q19) on 25% lower revenues; COMMERCIAL AIRPLANES had $2.8b operating loss (vs $4.9b) on 65%

A majority of lawmakers in the U.S. House signed a letter urging leaders from both chambers of Congress to extend the Payroll Support Program (PSP) through March 2021, arguing that failure to do so will lead to hundreds of thousands of job losses across the airline industry this fall.

Cathay Pacific has confirmed it will transfer a third of its passenger aircraft to storage locations outside Hong Kong in line with “prudent operational and asset management considerations.”

The U.S.-based MRO has used CARES Act funding toward aircraft type training and appointed a new chief operating officer.

All Nippon Airways’ (ANA) significant cost-cutting efforts have been dwarfed by the massive revenue loss caused by the COVID-19 crisis, resulting in heavy net losses for the June quarter.

Alitalia said it would increase international flights as it looks to increase traffic following the COVID-19 shutdown, with its medium- and long-haul capacity set to grow by 7% in September and 29% in October compared to August levels.

SINGAPORE—Singapore Airlines (SIA) is likely to complete a fleet-size review by November after projecting its passenger capacity will still be less

The rebound in domestic travel in Japan has been one of the most impressive in the Asia-Pacific region, and the government is taking steps to try and keep the momentum going.

Airlines are ramping up their activities but there are signs the post-COVID-19 recovery could be more hesitant than they initially hoped.

While Hawaiian Airlines is raising financing to ensure its survival in the short-term, it is also looking further ahead at what changes will be needed to adjust to the long-term industry outlook.

The top Democrat on the House Armed Services Committee is against folding funding for Defense Department programs into the latest COVID-19 relief package.

HAWAIIAN AIRLINES lost $106.9m in 2Q20 (vs $57.8m net profit in 2Q19) on 91.6% lower revenues, and ended quarter with $761m cash. It also launched

ARSA conducted survey of FAA-certificated repair stations that found average year-over-year declines in revenue of 45.9% over first five months of

ALITALIA plans to increase its international flight schedule by 7% in September and by 29% in October (to 1,630 weekly flights to 45 airports) vs

HEXCEL had $203.9m in Commercial Aerospace sales in 2Q20, down 51% vs 2Q19, citing start of inventory reductions in supply chain as partially

CRANE AEROSPACE & ELECTRONICS earned $20 in 2Q20 (vs $49m in 2Q19) on 23% lower sales; it has $506m backlog.

Spirit AeroSystems, the Wichita-based supplier for mostly Boeing and Airbus commercial aircraft, agreed to an expanded role on the Aerion AS2 that includes producing the forward fuselage, the companies announced on July 28.

JetBlue Airways is capitalizing on the worst downturn in air travel history to reinforce its New York and Los Angeles focus cities, part of a plan to emerge from the COVID-19 crisis with an enhanced competitive profile on both U.S. coasts.

Spanish LCC Volotea has agreed to a syndicated loan of €150 million ($176 million) to help meet its operational and financial needs following three months of “hibernation” caused by the COVID-19 pandemic.

Asia-Pacific carriers face a bleak second half of 2020 following a precipitous drop in international traffic in the second quarter, according to the region’s major airline industry group.

NETJETS is offering to reinstate all NetJets Europe pilots/cabin crew furloughed in April and is restoring portion of its European fleet to reach

IATA reports year-over-year global pax traffic dropped 86.5% in June on 80.1% lower capacity, foreshadowing slower-than-expected recovery due to slow

AAPA reports year-over-year member traffic (RPKs) dropped 97% in June on 93.2% lower capacity; cargo was down 20.3% on 27.2% lower capacity. It adds

JETBLUE had $320m net loss in 2Q20 (vs $179m profit in 2Q19) on 90% lower revenues, and ended quarter with $3.4b in liqudity; its daily cash burn fell

COLLINS lost $317m in 2Q20 (vs $1.3b profit in 2Q19) on 36% lower sales, including 48% drop the commercial aftermarket.