Coronavirus

FINNAIR lost €167m in 3Q20 (vs €100.7m profit in 3Q19) on 88.7% lower revenues and has increased its savings target by €40m to €140m; plan still

AAPA estimates year-over-year member RPKs dropped 95.6% in September on 89% lower ASKs; enplanements fell 96.4%.

GENERAL DYNAMICS AEROSPACE earned $283m on $2b sales in 3Q20 vs $393m on $2.5b in 3Q19; it has $12b backlog, up from $11.4b a year ago. GULFSTREAM

GE AVIATION earned $356m on $4.1b revenues in 3Q20 vs $1.7b on $8.8b in 3Q19; it delivered 329 commercial aviation engines (172 LEAPs) vs 714 (455

BOEING posted $466m net loss on $14.1b revenues in 3Q20 vs $1.2b profit on $20b in 3Q19 and says it anticipates a workforce of about 130,000 employees

HAWAIIAN AIRLINES is deferring delivery of its 10 GEnx-powered 787-9s from 1Q21 to September 2022-2026.

HAWAIIAN lost $97.1m in 3Q20 (vs $80.1m profit in 3Q19) on 89.9% lower revenues and ended quarter with $979m liquidity.

ICELANDAIR earned US$38.2m in 3Q20 (vs $61.5m in 3Q19) on 81% lower revenues and ended quarter with $399m liquidity.

ANA GROUP plans to retire 35 aircraft, including 22 777s, in 2020 (vs initial plan of seven) and has deferred delivery of one each 777 and A380; it

CEO Jude Bricker says the passenger airline’s flexible route network and cargo-handling deal with Amazon have enabled it to remain resilient during the COVID-19 pandemic.

Hawaiian Airlines is pushing back its Boeing 787 deliveries due to a weaker long-term demand outlook.

Raytheon Technologies expects to end 2020 with $10 billion in cash on hand, in part thanks to a new deal to sell its Forcepoint cybersecurity business, but also due to 20% fewer commercial aerospace employees, executives said Oct. 27.

IATA says airline industry cannot slash costs sufficiently to neutralize severe cash burn to avoid bankruptcies in 2021; it is now projecting 2021

An effective pre-flight COVID-19 testing regime is critical to airlines getting through the upcoming winter season and surviving 2021, but governments want proof that such testing is safe before they lift quarantine rules.

LAX handled 1.75m pax in September, down 75% from 7m in September 2019.

COLLINS AEROSPACE earned $526m on $4.3b sales in 3Q20 vs $1.3b on $6.5b in 3Q19; commercial aftermarket fell 52%.

PRATT & WHITNEY posted $615m loss on $3.5b sales in 3Q20 vs $520m profit on $5.3b in 3Q19; commercial aftermarket sales fell 51%, but military sales

EASYJET sold nine A320 Family aircraft to Wilmington Trust SP Services (5) and Sky High 112 Leasing (4), and leased them back, generating total cash

All Nippon Airways (ANA) plans to create a new low-cost widebody unit and cut back its mainline fleet as part of a major overhaul of its strategy spurred by the COVID-19 crisis.

A return to commercial aircraft utilization decline in September has shown that recovery for the industry will be filled with twists and turns along the way.

GROUPE ADP had €1.67b in revenues in Jan-Sept, down 52.7% vs a year ago.

AZUL launched R$1.6b public offering of new debentures governed by Brazilian law and convertible into preferred shares.

US DOT says US domestic air fares averaged $259 in 2Q20, down 27.8% from $358 in 2Q19 and 22.6% from $334 in 1Q20.

If the current fragile jetliner market worsens, the U.S. and other governments might feel pressure to reconsider their nonintervention.

Two African carriers–Ethiopian Airlines and South African LCC FlySafair–have each added a pair of aircraft to their fleets, despite the ongoing COVID-19 downturn.