2020 Reported Earnings at Big 3

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01-28-2021, 03:41 PM

#11

sobo

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Posts: 234

Quote:

Originally Posted by DeadStick

4Q20 Average Daily Cash Burn:

Delta: $12M
Southwest: $12M
American: $30M
United: $33M

Your numbers seem accurate but just be aware that UAL and others are reporting cash burn as “operational” cash burn which is not the same. Some of the airlines decided this quarter to post “operational” cash burn to show investors how lean/fat the operation was without finance activities. The numbers are not comparable though.

01-28-2021, 03:57 PM

#12

Gone Flying

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Position: UNA

Posts: 4,417

Quote:

Originally Posted by sobo

Delta lost so much because of their investments in foreign airlines that went bankrupt, IRCC.

yuup. Only one of the big 4 with mostly non union workers that allowed them to massively cut hours and pay less than most other airlines... and they still managed to lose more than any other US airline.

01-28-2021, 04:12 PM

#13

Aero1900

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Position: 1900D CA

Posts: 3,394

Quote:

Originally Posted by DeadStick

4Q20 Average Daily Cash Burn:

Delta: $12M
Southwest: $12M
American: $30M
United: $33M

Sounds bad.....

01-28-2021, 04:25 PM

#14

Excargodog

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Joined APC: Jan 2018

Posts: 11,503

Quote:

Originally Posted by Aero1900

Sounds bad.....

what is worse is their credit ratings. Last bonds UA sold required an 11% coupon. AA was 11.75 but still sold below par, forcing them to pay an actual 12% for their money. As their existing debt is refinanced (and it will be because they don’t have the money to simply buy the bonds back as they mature) the debt service is going to skyrocket.

01-28-2021, 04:50 PM

#15

velosnow

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Posts: 1,170

Quote:

Originally Posted by Aero1900

I was curious. Deltas full year loses are so massive and yet their Q4 numbers weren't so bad. At least compared to UALs Q4

There were some big one-time charges for retiring the 777 along with the rest of the MDs earlier than planned so perhaps a bit of that. Not to mention paying a bunch of us to sit around and grow beards for 8 months.

02-03-2021, 04:13 PM

#16

Sputnik

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Position: Petting Zoo

Posts: 2,074

Didn't they write off the entire early retirement costs in 2020 as well? That was a significant percentage of the company, and the packages weren't bad.