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JammyBritton27
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AA Reports First-Quarter 2020 Financial Results

Thu Apr 30, 2020 12:25 pm

AA reported first-quarter net loss of $2.2 billion, or ($5.26) per share.

“Never before has our airline, or our industry, faced such a significant challenge,” said American Airlines Chairman and CEO Doug Parker.

https://news.alphastreet.com/aal-earnin ... 0-results/

The company ended its first quarter with $6.8 billion of available liquidity and expects to end second quarter with approximately $11 billion of liquidity.

Reduced system capacity by approximately 80% in both April and May, and 70% in June.

Suspended its capital return program, including share repurchases and the payment of future dividends, in accordance with the CARES Act.

Original source: http://news.aa.com/news/news-details/20 ... fault.aspx
 
tphuang
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Re: AA Reports First-Quarter 2020 Financial Results

Thu Apr 30, 2020 12:30 pm

expected cash burn of $70 million a day through Q2 before dropping to $50 million in June. I find that June number overly optimistic given that they apparently are going to operate 30% of schedule then. Seems pretty crazy to me.

Also, they mentioned they will end Q2 will $11 billion in cash, but that includes both the grant + additional loans they applied for (which is about $10.6 billion). Compare this to DL, who will be at $10 billion without the loans. After that, I'm really not sure who will still be willing to borrow money to AA. I guess they could sell AAdvantage or borrow against that, but that will be their most valuable property left.
Last edited by tphuang on Thu Apr 30, 2020 12:43 pm, edited 1 time in total.
 
Brickell305
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Re: AA Reports First-Quarter 2020 Financial Results

Thu Apr 30, 2020 12:50 pm

The scary thing for AA is that Q1 primarily affected Asia, to which they are the least exposed of the Big 3. The universal decline in traffic didn’t occur until the very end of Q1. When that is fully borne out in Q2 data, I shudder to see the results as they are already losing more than their peers.
 
MIflyer12
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Re: AA Reports First-Quarter 2020 Financial Results

Thu Apr 30, 2020 1:00 pm

A lot of expense went to early retirement of mainline and 50-seater aircraft but I wouldn't try to argue these results are good. (Some of that stuff should have been going on years ago.) The diligent will read through the 10-Q for details of load factor, special charges, etc.
 
Nicknuzzii
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Re: AA Reports First-Quarter 2020 Financial Results

Thu Apr 30, 2020 1:12 pm

For anyone saying it barely affect Q1, that is simply not true. When the pandemic escalated here it was around mid March I believe. Throughout that time many cancelled their flights for March, April, and May. AA has to issue millions of refunds during Q1.
 
UpNAWAy
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Re: AA Reports First-Quarter 2020 Financial Results

Thu Apr 30, 2020 1:13 pm

Vasu Raju just said no hub closing or big retrenching (so lets don't go there).
 
UpNAWAy
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Re: AA Reports First-Quarter 2020 Financial Results

Thu Apr 30, 2020 1:18 pm

800 million in refunds for 1st quarter will be about 1.2 billion in 2nd qtr. Drops off to 200 million in June.
Last edited by UpNAWAy on Thu Apr 30, 2020 1:20 pm, edited 1 time in total.
 
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jfklganyc
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Re: AA Reports First-Quarter 2020 Financial Results

Thu Apr 30, 2020 1:19 pm

UpNAWAy wrote:
Vasu Raju just said no hub closing or big retrenching (so lets don't go there).



Of course there will be. At every airline in the US

No one is emerging from this the same size.

The smaller airlines (if they survive) will be the closest to their starting size


So frankly, he is full of crap
 
UpNAWAy
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Re: AA Reports First-Quarter 2020 Financial Results

Thu Apr 30, 2020 1:24 pm

Didn't say the same size, said no hub closing and no reducing one hub significantly over others. Other then the already announced fleet retirements it will essentially be status quo. There will certainly have to be some adjustments as retired fleets effected some hubs more.
Last edited by UpNAWAy on Thu Apr 30, 2020 1:35 pm, edited 1 time in total.
 
Brickell305
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Re: AA Reports First-Quarter 2020 Financial Results

Thu Apr 30, 2020 1:32 pm

Nicknuzzii wrote:
For anyone saying it barely affect Q1, that is simply not true. When the pandemic escalated here it was around mid March I believe. Throughout that time many cancelled their flights for March, April, and May. AA has to issue millions of refunds during Q1.


Which would affect cash flow, but not revenue.
 
Ishrion
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Re: AA Reports First-Quarter 2020 Financial Results

Thu Apr 30, 2020 1:52 pm

When was the last time AA had a loss for a quarter?
 
737max8
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Re: AA Reports First-Quarter 2020 Financial Results

Thu Apr 30, 2020 1:58 pm

Where is the guy that says a hub & spoke carrier will suffer less than a point to point carrier (WN?)

But I hope everything works out for my friends at AA and no serious number of job loss occurs :(
The thoughts and opinions expressed in my comments do not represent that of any airline or affiliate.
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UpNAWAy
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Re: AA Reports First-Quarter 2020 Financial Results

Thu Apr 30, 2020 2:03 pm

The HUB and spoke aspect will be more important in the recovery, then everyone not flying. Especially if the recovery is slow and long.
 
AA747123
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Re: AA Reports First-Quarter 2020 Financial Results

Thu Apr 30, 2020 2:29 pm

On the SOTA Parker pledged a goal of no non management furloughs, but there will be significant management furloughs in the coming months.
 
Westerwaelder
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Re: AA Reports First-Quarter 2020 Financial Results

Thu Apr 30, 2020 3:06 pm

AA747123 wrote:
On the SOTA Parker pledged a goal of no non management furloughs, but there will be significant management furloughs in the coming months.


If demand drops by the numbers being bounded about and recovery is slow, what is he planning to do with all the non management staff? Is there a lot of unmet demand for part time?
 
tphuang
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Re: AA Reports First-Quarter 2020 Financial Results

Thu Apr 30, 2020 3:20 pm

airlines generally don't announce "we will close a hub" months before its certain they will close one.
 
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Polot
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Re: AA Reports First-Quarter 2020 Financial Results

Thu Apr 30, 2020 3:22 pm

tphuang wrote:
airlines generally don't announce "we will close a hub" months before its certain they will close one.

Or even days before. Airlines will publicly talk about their full support for a hub up to the moment they announce they are dropping it.
 
maverick4002
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Re: AA Reports First-Quarter 2020 Financial Results

Thu Apr 30, 2020 3:38 pm

Is this loss...excessive? Covid impacts didnt really start until mid-March in the US correct? So two weeks (in context of a quarter) and they have this big loss? I assume they were well on the way to a loss without Covid or am I totally off base here?
 
ryby92
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Re: AA Reports First-Quarter 2020 Financial Results

Thu Apr 30, 2020 3:46 pm

maverick4002 wrote:
Is this loss...excessive? Covid impacts didnt really start until mid-March in the US correct? So two weeks (in context of a quarter) and they have this big loss? I assume they were well on the way to a loss without Covid or am I totally off base here?



The revenue was down by $2B+ and most of that fall off would have happened in March reconciling with the $2B loss for the quarter so it makes sense actually. These are unprecedented times and no reason to be gloating or for hAAters to be reveling in glee as appears to be the case.

The new normal will be completely different and is almost too early to tell at this point. Throw out the old narratives for they matter not nay longer.
 
Brickell305
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Re: AA Reports First-Quarter 2020 Financial Results

Thu Apr 30, 2020 3:53 pm

maverick4002 wrote:
Is this loss...excessive? Covid impacts didnt really start until mid-March in the US correct? So two weeks (in context of a quarter) and they have this big loss? I assume they were well on the way to a loss without Covid or am I totally off base here?

Their financials break down revenue by region. The Pacific was affected for longer than domestic, Latam and Europe and it's reflected in the decline. Once the full impact of having shutdowns affect flights across the board for April onwards is reflected, I’d shudder to see the results. UA which is significantly more exposed to Pacific, lost (slightly) less money. How much more will AA lose relative to its peers when the effects start to impact each of the Big 3 more equally.
 
Rdh3e
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Re: AA Reports First-Quarter 2020 Financial Results

Thu Apr 30, 2020 3:57 pm

AA747123 wrote:
On the SOTA Parker pledged a goal of no non management furloughs, but there will be significant management furloughs in the coming months.

They can't legally lay off any management (or anyone period) until October 1st (5 months from tomorrow).
 
Boof02671
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Re: AA Reports First-Quarter 2020 Financial Results

Thu Apr 30, 2020 4:27 pm

Rdh3e wrote:
AA747123 wrote:
On the SOTA Parker pledged a goal of no non management furloughs, but there will be significant management furloughs in the coming months.

They can't legally lay off any management (or anyone period) until October 1st (5 months from tomorrow).

Oh yes they can. One management isnt protected and the CARES Act allows a 10% lay-off right now
 
UpNAWAy
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Re: AA Reports First-Quarter 2020 Financial Results

Thu Apr 30, 2020 4:49 pm

Define management?
 
F9Animal
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Re: AA Reports First-Quarter 2020 Financial Results

Thu Apr 30, 2020 7:28 pm

That one time Parker said the airline would never lose money ever again..... I'm all for someone being bold, but seriously... To make that claim has to be haunting him.
I Am A Different Animal!!
 
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NWAESC
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Re: AA Reports First-Quarter 2020 Financial Results

Thu Apr 30, 2020 7:33 pm

UpNAWAy wrote:
Define management?


Anyone on a pay bandwidth, as opposed to a payscale.
"Nothing ever happens here, " I said. "I just wait."
 
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janders
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Re: AA Reports First-Quarter 2020 Financial Results

Thu Apr 30, 2020 7:34 pm

Losing $70mil/day. Hope to reduce loss to $50mil by June.

Dont see demand returning soon. Anticipate slow recovery.

American’s Pandemic Reality: We Will Be a Much Smaller Airline, Says CEO
https://skift.com/2020/04/30/americans- ... -says-ceo/
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LAXdude1023
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Re: AA Reports First-Quarter 2020 Financial Results

Thu Apr 30, 2020 7:37 pm

This could be a game changer if its successful. If it is, bookings should return in the fall (still at lower levels):

https://www.businessinsider.com/oxford- ... ute-2020-4
FOR THE LOVE OF GOD BRING BACK THE PAYWALL!!!!
 
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scbriml
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Re: AA Reports First-Quarter 2020 Financial Results

Thu Apr 30, 2020 7:51 pm

F9Animal wrote:
That one time Parker said the airline would never lose money ever again..... I'm all for someone being bold, but seriously... To make that claim has to be haunting him.


Two years is a long time in aviation.

https://chiefexecutive.net/american-air ... ug-parker/
Doug Parker, chairman and CEO of American Airlines Group Inc., says the world’s biggest airline will never lose money again – thanks to less competition from industry consolidation, better logistics and new types of fee-based products and services.

Parker told analysts in September that the Fort Worth-based airline was on track to earn $19.2 billion in pretax income from 2014 to the end of 2017. Quite a feat, considering that from 1978 through 2013, American’s cumulative profit was $1 billion. Even in a bad year, Parker says the airline should earn about $3 billion in profit before taxes.
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RvA
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Re: AA Reports First-Quarter 2020 Financial Results

Thu Apr 30, 2020 8:44 pm

I hope AA can manage. They seem in a precarious spot financially vs the other big US carriers.
 
dfw88
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Re: AA Reports First-Quarter 2020 Financial Results

Thu Apr 30, 2020 8:49 pm

AA747123 wrote:
On the SOTA Parker pledged a goal of no non management furloughs, but there will be significant management furloughs in the coming months.


Setting a "goal", which is what Doug Parker said, is very different than a "pledge". He said he hopes not to furlough anyone, but that doesn't mean it won't happen. He also did not say that there will be "significant management furloughs". He said there would likely be some management reorganizations, but that's not the same thing.
 
Silver1SWA
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Re: AA Reports First-Quarter 2020 Financial Results

Thu Apr 30, 2020 9:01 pm

F9Animal wrote:
That one time Parker said the airline would never lose money ever again..... I'm all for someone being bold, but seriously... To make that claim has to be haunting him.


Go back to the moment he said that and tell the world what will happen in 2020. You would be the crazy one.
ALL views, opinions expressed are mine ONLY and are NOT representative of those shared by Southwest Airlines Co.
 
FSDan
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Re: AA Reports First-Quarter 2020 Financial Results

Thu Apr 30, 2020 9:07 pm

Silver1SWA wrote:
F9Animal wrote:
That one time Parker said the airline would never lose money ever again..... I'm all for someone being bold, but seriously... To make that claim has to be haunting him.


Go back to the moment he said that and tell the world what will happen in 2020. You would be the crazy one.


A global pandemic has long been a possibility. Bill Gates gave this haunting TED Talk a few years before Doug made his claim: https://www.youtube.com/watch?v=6Af6b_wyiwI

Regardless, this is exactly why it's imprudent to make statements or claims using absolutes like "always" or "never". You paint yourself into a corner and sooner or later are proven wrong.
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scbriml
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Re: AA Reports First-Quarter 2020 Financial Results

Thu Apr 30, 2020 9:18 pm

Silver1SWA wrote:
F9Animal wrote:
That one time Parker said the airline would never lose money ever again..... I'm all for someone being bold, but seriously... To make that claim has to be haunting him.


Go back to the moment he said that and tell the world what will happen in 2020. You would be the crazy one.


Only if you’d completely forgotten 9/11, SARS, MERS, GFC. It was a foolhardy claim that ignored multiple events over the last 20 years over which the airlines had no control.
Time flies like an arrow. Fruit flies like a banana!
There are 10 types of people in the World - those that understand binary and those that don't.
 
LCDFlight
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Re: AA Reports First-Quarter 2020 Financial Results

Thu Apr 30, 2020 9:32 pm

UpNAWAy wrote:
Vasu Raju just said no hub closing or big retrenching (so lets don't go there).


How would the aircraft be fueled? Who would pay the pilots? Not American Airlines Group - it doesn't have the money.
 
Miamiairport
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Re: AA Reports First-Quarter 2020 Financial Results

Thu Apr 30, 2020 9:37 pm

You can bet if the cash burn continues at this rate there is going to be layoffs all around. There was a thread earlier that the language said "practical." No way in h#$l is AA going to be able to pay people to do nothing through September 30. That CARES act language will be out the window by 5/31. Air travel isn't going to recovery anytime soon.
 
tphuang
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Re: AA Reports First-Quarter 2020 Financial Results

Thu Apr 30, 2020 9:42 pm

AA really needs to cut a lot more flights to get this cash burn down. UA is cutting 90% of its capacity and its burn rate is expected to be 40 to 45 million a day. So AA's cash burn is more than 50% higher. That really is not the kind of path AA can take given their debt load.
 
Miamiairport
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Re: AA Reports First-Quarter 2020 Financial Results

Thu Apr 30, 2020 9:56 pm

tphuang wrote:
AA really needs to cut a lot more flights to get this cash burn down. UA is cutting 90% of its capacity and its burn rate is expected to be 40 to 45 million a day. So AA's cash burn is more than 50% higher. That really is not the kind of path AA can take given their debt load.


I thought AA was slashing it's schedule like by nearly 90% in May. Right now they're doing it day by day.
 
tphuang
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Re: AA Reports First-Quarter 2020 Financial Results

Thu Apr 30, 2020 10:56 pm

Well, AA just announced that they are only cutting 70% domestically for June after 80% for May. That seems like too much flying. And even now, they've cut the least of the big 3. Of course, WN has cut far and away the least of big 4. Here is the way to look at it. Let's say they do have $11 billion in cash by start of Q3. Now, they've already tapped out on all the gov't loans and whatever they have left in unencumbered assets are overvalued and unlikely to bring much additional funding. So if they burn $50 million a day in July, $40 million a day in August and $45 million a day in September. We get to Oct, let's say their expense goes down a little more from furloughs throughout Q4 and their cash burn look like $40 million a day in Oct, $20 million a day in Nov and $20 million a day in December. Now they down to $4 billion for next year.

They are going to be running low on cash sometime in Q1. A lot of these loans require airlines to have certain amount of liquidity available. In order to raise that liquidity, I'd assume they have to either sell or borrow against Aadvantage program. But who is really going to borrow AA money when they are so low on cash?
 
CIDFlyer
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Re: AA Reports First-Quarter 2020 Financial Results

Thu Apr 30, 2020 11:31 pm

No hub closures for now. I would say if you’re not in DFW or CLT anything could be up in the air. But that’s just my humble opinion
 
FlyingElvii
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Re: AA Reports First-Quarter 2020 Financial Results

Fri May 01, 2020 12:17 am

tphuang wrote:
AA really needs to cut a lot more flights to get this cash burn down. UA is cutting 90% of its capacity and its burn rate is expected to be 40 to 45 million a day. So AA's cash burn is more than 50% higher. That really is not the kind of path AA can take given their debt load.

Most airlines are barely flying the schedule they have now.

Looking at a random small city, Fort Wayne, it looks like 6 of the ten scheduled flights operated, which is actually better than it has been for several days.
It is also a Skywest maint base.

At LAN, it was four out of seven. AA Xcld three of four.

Just because they are scheduled, doesn’t mean they are actually operating right now. And AA is not the only one doing this.
 
winginit
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Re: AA Reports First-Quarter 2020 Financial Results

Fri May 01, 2020 12:30 am

LAXdude1023 wrote:
This could be a game changer if its successful. If it is, bookings should return in the fall (still at lower levels):

https://www.businessinsider.com/oxford- ... ute-2020-4


Sorry but no. As has been widely discussed in other threads, even for a vaccine to be fully approved by Summer (unlikely) it would take months to scale manufacturing and distribution.
 
crj900lr
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Re: AA Reports First-Quarter 2020 Financial Results

Fri May 01, 2020 12:34 am

Boof02671 wrote:
Rdh3e wrote:
AA747123 wrote:
On the SOTA Parker pledged a goal of no non management furloughs, but there will be significant management furloughs in the coming months.

They can't legally lay off any management (or anyone period) until October 1st (5 months from tomorrow).

Oh yes they can. One management isnt protected and the CARES Act allows a 10% lay-off right now



While the CARES Act says that airlines accepting aid cannot reduce workforces before September 30, 2020, a reduction of travel demand and flying means that many employees will have their hours cut or be paid minimum contractual amounts.
 
OB1504
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Re: AA Reports First-Quarter 2020 Financial Results

Fri May 01, 2020 12:39 am

Silver1SWA wrote:
F9Animal wrote:
That one time Parker said the airline would never lose money ever again..... I'm all for someone being bold, but seriously... To make that claim has to be haunting him.


Go back to the moment he said that and tell the world what will happen in 2020. You would be the crazy one.


Even when he first said it, the consensus here was that it was a monumentally stupid thing you say because you never know what will trigger the next downturn overnight.

viewtopic.php?t=1375009
 
Silver1SWA
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Re: AA Reports First-Quarter 2020 Financial Results

Fri May 01, 2020 1:34 am

OB1504 wrote:
Silver1SWA wrote:
F9Animal wrote:
That one time Parker said the airline would never lose money ever again..... I'm all for someone being bold, but seriously... To make that claim has to be haunting him.


Go back to the moment he said that and tell the world what will happen in 2020. You would be the crazy one.


Even when he first said it, the consensus here was that it was a monumentally stupid thing you say because you never know what will trigger the next downturn overnight.

viewtopic.php?t=1375009


I don’t disagree. It was just a general way for me to say the current situation far exceeds an event anyone would’ve planned for or believed.

Anyway sorry to derail the thread. Carry on.
ALL views, opinions expressed are mine ONLY and are NOT representative of those shared by Southwest Airlines Co.
 
Boof02671
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Re: AA Reports First-Quarter 2020 Financial Results

Fri May 01, 2020 2:34 am

crj900lr wrote:
Boof02671 wrote:
Rdh3e wrote:
They can't legally lay off any management (or anyone period) until October 1st (5 months from tomorrow).

Oh yes they can. One management isnt protected and the CARES Act allows a 10% lay-off right now



While the CARES Act says that airlines accepting aid cannot reduce workforces before September 30, 2020, a reduction of travel demand and flying means that many employees will have their hours cut or be paid minimum contractual amounts.

The CARES Act allows for an immediate 10% lay-off.

“ The bailout actually does allow an airline to furlough up to 10% of its employees (and restrictions lift October 1, 2020.) And those who are still working will receive minimum hours. For instance a part-time employee who had been working 25-30 hours might only work 10 or 12 hours going forward and become eligible for newly more generous unemployment. Even though airlines are getting a bailout, expect some airline employees to go on unemployment anyway”

https://www.nationalreview.com/corner/c ... employees/
 
LAXdude1023
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Re: AA Reports First-Quarter 2020 Financial Results

Fri May 01, 2020 2:46 am

winginit wrote:
LAXdude1023 wrote:
This could be a game changer if its successful. If it is, bookings should return in the fall (still at lower levels):

https://www.businessinsider.com/oxford- ... ute-2020-4


Sorry but no. As has been widely discussed in other threads, even for a vaccine to be fully approved by Summer (unlikely) it would take months to scale manufacturing and distribution.


You haven’t read up on this have you?

There will need to be more obviously but if this vaccine is effective, supply is starting up. They are manufacturing millions of this vaccine before they even know if it works. If it does work, then yes it will absolutely be a game changer. There are hopeful signs. It works in Macaque Monkeys which have the closest immune system to our own. The signs are promising. We will know in June if the trail was successful in humans. If it is, there will be millions of this stuff available by September.

So yes it can be a game changer IF IT WORKS.

https://www.astrazeneca.com/media-centr ... ccine.html
FOR THE LOVE OF GOD BRING BACK THE PAYWALL!!!!
 
Rdh3e
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Re: AA Reports First-Quarter 2020 Financial Results

Fri May 01, 2020 3:48 am

Boof02671 wrote:
crj900lr wrote:
Boof02671 wrote:
Oh yes they can. One management isnt protected and the CARES Act allows a 10% lay-off right now



While the CARES Act says that airlines accepting aid cannot reduce workforces before September 30, 2020, a reduction of travel demand and flying means that many employees will have their hours cut or be paid minimum contractual amounts.

The CARES Act allows for an immediate 10% lay-off.

You are quoting someone paraphrasing the bill. The bill says they are required to maintain 90% employment. That is not the same thing as allowing 10% furlough.
 
winginit
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Re: AA Reports First-Quarter 2020 Financial Results

Fri May 01, 2020 3:52 am

LAXdude1023 wrote:
winginit wrote:
LAXdude1023 wrote:
This could be a game changer if its successful. If it is, bookings should return in the fall (still at lower levels):

https://www.businessinsider.com/oxford- ... ute-2020-4


Sorry but no. As has been widely discussed in other threads, even for a vaccine to be fully approved by Summer (unlikely) it would take months to scale manufacturing and distribution.


You haven’t read up on this have you?

There will need to be more obviously but if this vaccine is effective, supply is starting up. They are manufacturing millions of this vaccine before they even know if it works. If it does work, then yes it will absolutely be a game changer. There are hopeful signs. It works in Macaque Monkeys which have the closest immune system to our own. The signs are promising. We will know in June if the trail was successful in humans. If it is, there will be millions of this stuff available by September.

So yes it can be a game changer IF IT WORKS.

https://www.astrazeneca.com/media-centr ... ccine.html


I have read the various stories about the study, but we both know that even if the end product is "a few million doses by September" as the article states, that's hardly enough to boost airline bookings "in the fall" as you stated. AstraZeneca is a British-Swedish multinational company that in this case is teaming up with a British Academic Institution. The US traveling public who aren't medical professionals would be far down the list of those to receive a vaccine.

Either way, this is a discussion for a different thread.
 
chonetsao
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Re: AA Reports First-Quarter 2020 Financial Results

Fri May 01, 2020 9:02 am

tphuang wrote:
Well, AA just announced that they are only cutting 70% domestically for June after 80% for May. That seems like too much flying. And even now, they've cut the least of the big 3. Of course, WN has cut far and away the least of big 4. Here is the way to look at it. Let's say they do have $11 billion in cash by start of Q3. Now, they've already tapped out on all the gov't loans and whatever they have left in unencumbered assets are overvalued and unlikely to bring much additional funding. So if they burn $50 million a day in July, $40 million a day in August and $45 million a day in September. We get to Oct, let's say their expense goes down a little more from furloughs throughout Q4 and their cash burn look like $40 million a day in Oct, $20 million a day in Nov and $20 million a day in December. Now they down to $4 billion for next year.

They are going to be running low on cash sometime in Q1. A lot of these loans require airlines to have certain amount of liquidity available. In order to raise that liquidity, I'd assume they have to either sell or borrow against Aadvantage program. But who is really going to borrow AA money when they are so low on cash?


If the outlook becomes so bleak by end of June, AA may take a drastic measure to retire the entire A320 and A332 fleet. Thus the cash burn might be less in August and September. Hopefully by September we can see 50-60% of the flying back (in the worst scenario), then the cash burn would become much less as more revenue comes in.
 
Miamiairport
Posts: 506
Joined: Tue Apr 10, 2018 8:14 pm

Re: AA Reports First-Quarter 2020 Financial Results

Fri May 01, 2020 5:28 pm

If AA (or any of the other major 4 plus B6/AS) really need to layoff staff before September it's going to happen. The airlines will simply say Chapter 11 if we are constrained by the provisions of CARES. Anyone that thinks airlines are going to be flying around 30% load factors while thousands of workers sit home and collect a paycheck have no clue about how the real world works.

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