Sectors News Results

  • Alphabet, Netflix, Tesla: Stocks That Defined the Week

    The Justice Department filed its long-anticipated antitrust lawsuit against Google Tuesday, targeting the tech giant's flagship search engine and related advertising business. A partnership with Apple is at the heart of the case, potentially threatening a lucrative revenue stream for both companies. Microsoft, the target of the last major tech antitrust campaign in 1998, now stands to benefit the most from the DOJ's newest lawsuit.

  • BRIEF-American Airlines Expects Q4 Revenue To Be Down About 65% - Conf Call

    American Airlines Group Inc (AAL): * AMERICAN AIRLINES EXEC SAYS DEMAND FOR MEXICO, THE CARIBBEAN HAS BEEN STRONG; EXPECTS Q4 REVENUE FOR THE REGION TO REACH 70% OF 2019 LEVELS - CONF CALL. * AMERICAN AIRLINES EXEC SAYS EXPECTS Q4 REVENUE TO BE DOWN ABOUT 65% * AMERICAN AIRLINES CEO SAYS DOES NOT THINK INDUSTRY WOULD NEED A THIRD FEDERAL AID PACKAGE, THINKS SITUATION WILL BE BETTER IN 6 MTHS.

  • BRIEF-American Airlines Reports Third-Quarter 2020 Loss Per Share $4.71

    American Airlines Group Inc (AAL): * AMERICAN AIRLINES REPORTS THIRD-QUARTER 2020 FINANCIAL RESULTS. * Q3 LOSS PER SHARE $4.71. * Q3 REVENUE $3.2 BILLION VERSUS REFINITIV IBES ESTIMATE OF $2.76 BILLION. * Q3 EARNINGS PER SHARE ESTIMATE $-5.91 -- REFINITIV IBES DATA. * Q3 LOSS PER SHARE $5.54 EXCLUDING ITEMS. * AMERICAN AIRLINES (AAL) - ENDED Q3 WITH APPROXIMATELY $13.6 BILLION OF TOTAL AVAILABLE LIQUIDITY.

  • Cathay Pacific to slash workforce, end Cathay Dragon brand due to pandemic

    Hong Kong's Cathay Pacific Airways Ltd (CPCAF) said on Wednesday it would slash 5,900 jobs and end its regional Cathay Dragon brand, joining peers in cutting costs as it grapples with a plunge in demand due to the coronavirus pandemic. The airline would also seek changes in conditions in its contracts with cabin crew and pilots as part of a restructuring that would cost HK$2.2 billion.

  • Wizz Air CEO expects smaller airline industry after pandemic

    The world will have a smaller airline industry as a result of the coronavirus crisis with many privately funded carriers set to go under and governments throwing "good money after bad" to keep national champions afloat, Wizz Air's CEO said.

  • Fiji Airways Appoints Discover the World as General Sales Agent

    SCOTTSDALE, Ariz. Andre Viljoen said, "The appointment of Discover the World will allow us to continue developing Fiji Airways' sales in these offline and key emerging markets for both Fiji and our wider South Pacific network."

  • BRIEF-United Airlines Expects To Incur About $765 Mln Of Pre-Tax Costs Related To Job Cuts In Q3

    United Airlines Holdings Inc (UAL): * UNITED AIRLINES - EXPECTS TO INCUR TOTAL PRE-TAX COSTS OF ABOUT $1.1 BILLION RELATED TO THE TOTAL WORKFORCE REDUCTION OF 22,000 EMPLOYEES - SEC FILING. * UNITED AIRLINES - OF ABOUT $1.1 BILLION PRE-TAX COSTS RELATED TO WORKFORCE REDUCTION, ABOUT $500 MILLION ARE EXPECTED TO BE FUTURE CASH EXPENDITURES.

  • Emirates boss sees air travel recovery sooner rather than later

    Emirates boss Tim Clark expects a dynamic recovery in air travel demand to begin "sooner rather than later", he told an online forum on Wednesday, describing the industry's coronavirus crisis as a glitch from which the Gulf carrier can fully recover.

  • BRIEF-Alaska Air Group Inc - Planning Assumption Is For Our Q4 Capacity To Be Down Approximately 40%

    Alaska Air Group Inc (ALK): * Alaska Air Group Inc (ALK) - PLANNING ASSUMPTION IS FOR OUR Q4 CAPACITY TO BE DOWN APPROXIMATELY 40% * Alaska Air Group Inc (ALK) - CAPACITY REDUCTIONS ARE EXPECTED TO CONTINUE INTO 2021 AND WE HAVE BEGUN TO RIGHT-SIZE OUR WORKFORCE. * ALASKA AIR GROUP (ALK) - EARLY-OUT, INCENTIVE LEAVE, NON-UNION MANAGEMENT REDUCTIONS WILL RESULT IN ONE-TIME COST OF ABOUT $320 MILLION, TO BE RECORDED IN Q3.

  • Boeing Delivered 11 Aircraft in September, but Won No New Orders

    Boeing Co. (BA) said Tuesday that it didn't win any new orders in September and delivered only 11 aircraft, weighed by the continued grounding of the MAX, weak demand for its wide-body planes and production problems affecting its 787 Dreamliner. Boeing (BA) and rival Airbus SE are cutting production and jobs in response to the slump in air travel, and face a glut of undelivered planes, reversing the picture a year ago when airlines clamored for jets that were behind schedule.

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