The Company reported US GAAP Net Loss for the second quarter of 2020 of $(1.6) billion or $(7.83) per share compared to US GAAP Net Income of $472.8 million or $2.25 per share in the prior year.
opa Holdings reported a net loss of US$386.0 million or (US$9.08) per share. Excluding special items, the Company would have reported a net loss of US$114.6 million, or (US$2.70) per share.
Excluding special items, adjusted EBIT and EBITDA were US$ (140.5) million and US$ (120.4) million, respectively, negatively impacted by weak Commercial Aviation results, yielding adjusted EBIT margin of -26.2%% and adjusted EBITDA margin of -22.4%
Following Expedia Groups release of its Q2 2020 results, Johanna Bonhill-Smith, Travel & Tourism Analyst at GlobalData her view.
Financial results continue to be significantly impacted by COVID-19 and the 737 MAX grounding
Grupo Aeromexico's second quarter 2020 revenue reached $2.6 billion pesos, an 84.5% year-on-year decrease. During the quarter, revenue per ASK (RASK) in pesos decreased by 30.3% while yield decreased by 7.2%.
Second quarter 2020 revenue declined 90% year over year as a result of the impact of COVID-19. Traffic volumes and yields improved in May and June from an April trough.
Reported net loss for the second quarter of 2020 under Generally Accepted Accounting Principles (GAAP) of $214 million, or $1.73 per diluted share, compared to net income of $262 million, or $2.11 per diluted share in the second quarter of 2019.
Passenger traffic continues to reflect travel disruptions worldwide since mid-March 2020 due to the COVID-19 pandemic
Robust Liquidity Preservation Plan with Minimal Cash Burn, End Cash Balance of Ps.10 Billion