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Business

“GameStop millionaire makes huge bet on battered airline”

“…Vladimir Galkin was paying close attention to all that digital disruption during the meme stock madness. A Florida-based investor, Galkin partly built his fortune through GameStop shares during that time… Now Galkin, who cofounded and owns a majority stake in… Continue Reading…

Business, Economy

“Delta CEO says CrowdStrike-Microsoft outage cost the airline $500 million”

“Delta CEO Ed Bastian said the massive IT outage earlier this month that stranded thousands of customers will cost it $500 million. The airline canceled more than 5,000 flights in the wake of the outage, which was caused by a… Continue Reading…

Stocks

“Southwest profit falls 46% as airline takes ‘urgent’ steps to increase revenue”

“…Here is how Southwest performed in the second quarter compared with Wall Street expectations, according to consensus estimates from LSEG: The Dallas-based airline said its second-quarter revenue rose 4.5% from last year to $7.35 billion, a record, but its profit dropped more… Continue Reading…

Stocks

“Ryanair shares tumble 17.2% as budget airline reports 46% fall in quarterly profit, sees lower fares” [JUL, 22, 2024]

“… …” https://www.cnbc.com/2024/07/22/ryanair-q1-2024-results-shares-fall-on-lower-fares-fall-in-quarterly-profit.html

Business, Economy

“Air travel demand is breaking records. Airline profits are not”

“…Some airlines have forecast record demand, and in some cases, revenue. On Sunday, the Transportation Security Administration screened more than 3 million people, a one-day record. But higher labor and other costs have eaten into airlines’ bottom lines. To adapt to slower demand… Continue Reading…

Business, Economy

“$29 flights are back as airlines race to fill seats in the off-season”

“Airlines have a record 260 million seats to fill this quarter, and to do it, they’re offering fares that will run you about the same as a pair of movie tickets…” https://www.cnbc.com/2023/11/11/flight-discounts-are-back.html Are prices starting to collapse in the airline… Continue Reading…

Business

“Frontier and Spirit to merge, creating fifth-largest airline in U.S. in $6.6 billion deal”

“Frontier Airlines and Spirit Airlines, the two largest discount carriers in the U.S., have agreed to merge in a deal valued at $6.6 billion, creating what would become the fifth-largest airline in the country. The merger gives Denver-based Frontier Airlines a 51.5%… Continue Reading…

Economy

“Boeing, airline stocks tumble as new Covid variant spurs travel curbs”

“Boeing, airlines and other travel stocks tumbled on Friday after several European and Asian countries announced new travel restrictions from southern Africa because of a new Covid variant. The U.K. on Thursday said it would temporarily suspend flights from South… Continue Reading…

Business, Economy, Stocks

Global airline industry is expected to lose 51 billion in 2021 and 12 billion in 2022

“The global airline industry is expected to lose close to $12 billion next year, cutting its losses from this year by 78% as carriers slowly recover from the Covid-19 pandemic, the International Air Transport Association said in a forecast Monday.… Continue Reading…

Stocks

“Top Airline Stocks for Q2 2021”

“Best Value Airline Stocks These are the airline stocks with the lowest 12-month trailing price-to-earnings (P/E) ratio. Because profits can be returned to shareholders in the form of dividends and buybacks, a low P/E ratio shows you’re paying less for each dollar… Continue Reading…