US airlines say they have hit a turning point: After a lousy first quarter, they expect to be profitable as Americans return to travel in the biggest numbers since the start of the pandemic.
American Airlines is the latest carrier to give a rosy outlook for the rest of 2022. The airline said on Thursday that although it lost $1.64 billion in the first quarter, sales hit a record in March, and the company expects to earn a profit in the second quarter.
“Demand is as strong as we have ever seen it,” American Airlines’ chief executive, Robert Isom, told analysts.
Shares of American and other airlines rose in morning trading.
American’s upbeat view echoed similar comments from Delta Air Lines and United Airlines, which both predicted in recent days that they will earn full-year profits despite big losses in the first quarter.
Air travel was subdued in January and February by the Omicron variant that caused an increase in Covid-19 cases among both travellers and airline employees. But travellers came back in March, and airline executives believe that Americans are eager to travel this summer and won’t be discouraged by another, smaller rise in coronavirus cases and higher airfares.
The recovery is being powered by leisure travellers, but the airlines say they are seeing more business travellers.
American said overall business travel is at 80 per cent of pre-pandemic levels, dragged down by corporate travel, which is only 50 per cent of 2019 levels. Isom said, however, that corporate bookings are the highest they have been since the start of the pandemic, “and we expect that to continue as more companies reopen their offices".
Along with higher revenue, however, airlines face higher costs for fuel and labour. American’s fuel bill more than doubled from a year earlier, and payroll costs rose more than 15 per cent.
Airlines are also facing a limited supply of pilots, which could limit their ability to operate as many flights as they would like.
“The pilot shortage for the industry is real, and most airlines are simply not going to be able to realise their capacity plans because there simply aren’t enough pilots, at least not for the next five-plus years,” United chief executive Scott Kirby told analysts on Thursday.
American said it has hired 1,100 pilots since the start of last year. Many of those came from smaller, regional airlines, leaving those carriers with shortages. As a result, American will trim its American Eagle schedule in the second quarter.
American’s passenger-carrying capacity will also be lower than planned because deliveries of new Boeing 787 jets have been delayed by production problems at Boeing factories.
Alaska Air Group, the parent of Alaska Airlines, said on Thursday that it lost $143 million in the first quarter, compared with a $131 million loss a year earlier. Revenue more than doubled to $1.68 billion but was down 10 per cent from the same quarter in 2019.
The Seattle-based airline forecast that second-quarter revenue will be 5 to 8 per cent higher than in the same quarter of 2019.
United Airlines Holdings reported a $1.38bn loss for the first quarter but said it expects to return to profitability in the April-to-June quarter. Revenue of $7.67bn was up from a year ago but down 21 per cent from early 2019, as the airline continues to run fewer flights than before the pandemic.
PRISCILLA
%3Cp%3EDirector%3A%20Sofia%20Coppola%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Cailee%20Spaeny%2C%20Jacob%20Elordi%3C%2Fp%3E%0A%3Cp%3ERating%3A%203%2F5%3C%2Fp%3E%0A
Results
5pm: Maiden (PA) Dh80,000 (Turf) 2,200m; Winner: Gurm, Antonio Fresu (jockey), Eric Lemartinel (trainer)
5.30pm: Handicap (PA) Dh80,000 (T) 1,600m; Winner: Al Nafece, Al Muatasm Al Balushi, Mohammed Ramadan
6pm: Wathba Stallions Cup Handicap (PA) Dh70,000 (T) 1,200m; Winner: Ashton Tourettes, Adrie de Vries, Ibrahim Aseel
6.30pm: Arabian Triple Crown – Group 3 (PA) Dh300,000 (T) 2,200m; Winner: Ottoman, Adrie de Vries, Abdallah Al Hammadi
7pm: Liwa Oasis – Group 2 (PA) 300,000 (T) 1,400m; Winner: Hakeemat Muscat, Szczepan Mazur, Ibrahim Al Hadhrami
7.30pm: Handicap (TB) Dh80,000 (T) 1,600m; Winner: Ganbaru, Antonio Fresu, Musabah Al Muhairi
MATCH INFO
Europa League final
Who: Marseille v Atletico Madrid
Where: Parc OL, Lyon, France
When: Wednesday, 10.45pm kick off (UAE)
TV: BeIN Sports
MATCH INFO
Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid
When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid
Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
THE%20SPECS
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THE%20SPECS
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The biogs
Name: Zinah Madi
Occupation: Co-founder of Dots and links
Nationality: Syrian
Family: Married, Mother of Tala, 18, Sharif, 14, Kareem, 2
Favourite Quote: “There is only one way to succeed in anything, and that is to give it everything.”
Name: Razan Nabulsi
Occupation: Co-founder of Dots and Links
Nationality: Jordanian
Family: Married, Mother of Yahya, 3.5
Favourite Quote: A Chinese proverb that says: “Be not afraid of moving slowly, be afraid only of standing still.”
Silent Hill f
Publisher: Konami
Platforms: PlayStation 5, Xbox Series X/S, PC
Rating: 4.5/5
Muguruza's singles career in stats
WTA titles 3
Prize money US$11,128,219 (Dh40,873,133.82)
Wins / losses 293 / 149
Continental champions
Best Asian Player: Massaki Todokoro (Japan)
Best European Player: Adam Wardzinski (Poland)
Best North & Central American Player: DJ Jackson (United States)
Best African Player: Walter Dos Santos (Angola)
Best Oceanian Player: Lee Ting (Australia)
Best South American Player: Gabriel De Sousa (Brazil)
Best Asian Federation: Saudi Jiu-Jitsu Federation
Fixtures:
Wed Aug 29 – Malaysia v Hong Kong, Nepal v Oman, UAE v Singapore
Thu Aug 30 - UAE v Nepal, Hong Kong v Singapore, Malaysia v Oman
Sat Sep 1 - UAE v Hong Kong, Oman v Singapore, Malaysia v Nepal
Sun Sep 2 – Hong Kong v Oman, Malaysia v UAE, Nepal v Singapore
Tue Sep 4 - Malaysia v Singapore, UAE v Oman, Nepal v Hong Kong
Thu Sep 6 – Final
RACE CARD
6.30pm: Handicap (Turf) US$175,000 1,000m
7.05pm: Al Bastakiya Trial Conditions (Dirt) $100,000 1,900m
7.40pm: Al Rashidiya Group 2 (T) $250,000 1,800m
8.15pm: Handicap (D) $135,000 2,000m
8.50pm: Al Fahidi Fort Group 2 (T) $250,000 1,400m
9.25pm: Handicap (T) $135,000 2,410m.
RESULT
Norway 1 Spain 1
Norway: King (90 4')
Spain: Niguez (47')
The team
Photographer: Mateusz Stefanowski at Art Factory
Videographer: Jear Valasquez
Fashion director: Sarah Maisey
Make-up: Gulum Erzincan at Art Factory
Model: Randa at Art Factory Videographer’s assistant: Zanong Magat
Photographer’s assistant: Sophia Shlykova
With thanks to Jubail Mangrove Park, Jubail Island, Abu Dhabi
Developer: Ubisoft Montreal / Ubisoft Toronto
Publisher: Ubisoft
Platforms: Playstation 4, Xbox One, Windows
Release Date: April 10
MATCH DETAILS
Chelsea 4
Jorginho (4 pen, 71 pen), Azpilicueta (63), James (74)
Ajax 4
Abraham (2 og), Promes (20). Kepa (35 og), van de Beek (55)
Crops that could be introduced to the UAE
1: Quinoa
2. Bathua
3. Amaranth
4. Pearl and finger millet
5. Sorghum
The%20Genius%20of%20Their%20Age
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HOW%20TO%20ACTIVATE%20THE%20GEMINI%20SHORTCUT%20ON%20CHROME%20CANARY
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World%20Food%20Day%20
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The%20BaaS%20ecosystem
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Malcolm & Marie
Directed by: Sam Levinson
Starring: John David Washington and Zendaya
Three stars