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MIAMI – Thai Airways (TG) Executive Vice President of Finance, Mr. Chai Esmairi, announces that the loss suffered for the 2020 exercise amounts to US$4.05bn (BHT141.1bl).
According to the Stock exchange of Thailand, this is the highest loss ever encountered by a Thai company.
The main reason behind this negative result is the worldwide impact of the Covid-19 pandemic on international travel.
Thai Airways and its subsidiaries saw their total traffic, measured by Available Seat Kilometer (ASK), drop by 73.7% while passenger movements, measured by Revenue Passenger kilometer (RPK), fell by 78.5%.
Part of the loss was a one-time payment of US$3.04bn (BHT92bl) covering expenses for an employee’s separation plan, impairment losses on aircraft, right-of-use assets, and aircraft spare parts as reported by the
Photo: Kochan Kleps/Airways
MIAMI – Finnair (AY) has released its financial report for 2020, highlighting what Topi Manner, AY CEO calls “the most difficult peacetime year in commercial aviation’s 100 years of existence.”
While commenting on the report he added “the COVID-19 pandemic has ben first and foremost a humanitarian crisis and a health crisis that has touched hundreds of millions of people. It has also been a severe crisis for aviation and for the tens of millions of people globally whose livelihoods depend on international travel, including us at Finnair.”
Finnair Airbus A330-300 OH-LTS – Photo : Kochan Kleps/Airways
2020 Critical Year Figures
›IndiGo Q3 results: Firm reports loss of Rs 620 crore, revenue dips 50% to Rs 5,143 crore
IndiGo Q3 results: Firm reports loss of Rs 620 crore, revenue dips 50% to Rs 5,143 crore
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IndiGo Q3 results: Firm reports loss of Rs 620 crore, revenue dips 50% to Rs 5,143 croreETMarkets.com
Last Updated: Jan 28, 2021, 04:28 PM IST
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Total revenue for the company came down by 50.21 per cent year-on-year to Rs 5,142.77 crore from Rs 1,030.17 crore in the year ago quarter.
Ebitda was at Rs 987.1 crore with margin of 20.1 per cent for the quarter, compared to Rs 1,960.7 crore with margin of 19.7 per cent for the same period last year.
InterGlobe Aviation-run IndiGo airline on Thursday reported a consolidated net loss of Rs 620.1 crore for the October-December quarter of FY21 (Q3FY21), as against a net profit of Rs 490.5 crore in the year-ago period. The airline, however, narrowed its loss from Rs 1,194.8 crore incurred in the September quarter of FY21. The high level of consumer confidence in our product has indeed been heartening and we are glad to be making graduated and measured steps to a full recovery. We look forward to a gradual opening up of international scheduled flights during the next few months because increased capacity and aircraft utilization are so very critical for our return to profitability,” said Ronojoy Dutta, chief executive officer of the airline.