American Airlines on Thursday posted a $2.2 billion net loss, its first quarterly loss since emerging from bankruptcy in 2013, and warned of a roughly $70 million per day cash burn in the second quarter as the coronavirus pandemic halts travel.
) on Thursday posted a $2.2 billion net loss, its first quarterly loss since emerging from bankruptcy in 2013, and warned of a roughly $70 million per day cash burn in the second quarter as the coronavirus pandemic halts travel.
The U.S. airline swung to a net loss of $2.2 billion in the first quarter to March 31 from a $185 million profit a year earlier. The carrier has also extended flight cancellations in and out of the New York area, one of the hardest hit by COVID-19 cases, into May, according to a memo to pilots seen by Reuters.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
American Airlines lost $2.2 billion in first quarter: earnings report - Business InsiderAmerican Airlines lost $2.2 billion in the first quarter as the coronavirus began to wreck the airline industry. This quarter is poised to be even worse.
Read more »
NBA In Talks With Disney World About Resuming Play At Florida ResortCould LeBron's first post-pandemic NBA assist come from Mickey Mouse?!
Read more »
South African retailer Edcon to file for bankruptcy protectionSouth African retailer Edcon will file for bankruptcy protection in the next few days, it said on Wednesday, becoming the country's first major corporate casualty of the coronavirus pandemic.
Read more »
COVID: Nearly 50% in Some U.S. States Going HungryWith job losses skyrocketing because of the coronavirus pandemic, hunger is a growing issue for millions of Americans, according to a new report.
Read more »
Singapore's DBS bank posts 29% fall in first-quarter net profitDBS, Southeast Asia's largest bank, said it set aside 1.09 billion Singapore dollars ($772.5 million) to cover potential losses from the coronavirus pandemic.
Read more »
Coronavirus updates: Australia links outbreak to cruise ship, DBS sets aside funds for virus impactSoutheast Asia's largest bank, DBS, said it set aside 1.09 billion Singapore dollars ($772.5 million) to cover potential losses from the coronavirus pandemic.
Read more »