American Airlines Group Inc. (NASDAQ: AAL) reported second quarter 2020 earnings results today.
Total operating revenues fell 86% to $1.62 billion. Passenger revenues were down almost 90% to $1.10 billion.
Net loss on a reported basis amounted to $2.1 billion, or $4.82 per share, compared to earnings of $662 million, or $1.49 per share, in the same period last year. On an adjusted basis, net loss was $3.4 billion, or $7.82 per share.
Passenger demand and load factors have improved since April, but continue to be significantly below 2019 levels. While May and June revenue trends were encouraging, demand weakened during July as COVID-19 cases increased and new travel restrictions were put into place. American currently expects its third quarter system capacity to be down approx. 60% year-over-year.
Aurora Cannabis Inc. (NYSE: ACB) reported third quarter 2021 earnings results today. Total revenues fell 25% year-over-year to CAD55.1 million. Adjusted EBITDA loss amounted to CAD24 million. Cash balance as
Media behemoth The Walt Disney Company (NYSE: DIS) reported second-quarter revenues that declined from last year as customers stayed away from theatres and parks due to pandemic-related safety issues and
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