September quarter 2020 GAAP pre-tax loss of $6.9 billion and loss per share of $8.47 on total revenue of $3.1 billion
The company expects future capacity to be moderated by the phased re-entry of its ships, the removal of capacity from its fleet and delays in new ship deliveries. Since the pause in guest operations, the company has accelerated the removal of ships in fiscal 2020 which were previously expected to be sold over the ensuing years. The company now expects to dispose of 18 ships, ten of which have already left the fleet.
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.