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Published on Thursday, November 5, 2020

World's six largest airlines have lost USD110 billion in revenue






Led by Delta Air Lines, the world's largest carriers were hit with a combined $110 billion in lost revenue so far this year.


A new study by StockApps.com shows the biggest six airlines have all suffered staggering losses in revenue since the beginning of 2020.


As well as Delta, it impacted American Airlines, Lufthansa, United Airlines, Air France, and British Airways parent IAG.


Passenger revenues have tanked for most airlines with only China now seeing a significant rebound.


The world's major airlines have virtually all posted losses for the past three quarters.


According to the data, Delta has been hit hardest with revenues down a total of $22.4 billion in the first three quarters.


America Airlines was close behind with a $21.1 billion decline in revenues, and United Airlines down $20.4 billion.


The airlines have grounded hundreds of jets and laid off thousands of workers but have been relatively successful in slashing their daily cash burn.


The three largest European airlines lost a combined $45.9 billion with Air France suffering a $20.4 billion revenue loss from January through September 2020.


 


Written by Ray Montgomery, US Editor

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