US Airline Flight Cancellations from COVID-19
03-06-2020, 06:08 AM
#41
Gets Weekends Off
Joined APC: Oct 2017
Posts: 3,309
if you think we are immune to this you are out of your mind. The only other Airlines in worse shape than us are United & AA (actually owes more than the company is worth) but we are pretty well loaded with debt thanks to Vanilla Bob and can’t really afford a major downturn. Our operating cashflow was basically zero in 3rd quarter and we had a bad 4Q. The difference between AA & UAL IS THE GOVT WILL BAIL THEM OUT, we’ll just go buh-bye 😁
03-06-2020, 06:31 AM
#42
Gets Weekends Off
Joined APC: Aug 2016
Posts: 271
Follow the facts. That’s why I started this thread. The indicators that are the most telling to me are conferences being cancelled and corporate travel bans being imposed, as that will obviously result in a huge impact on airline revenue.
Conferences being cancelled:
https://www.wsj.com/articles/coronav...it-11583317802
Companies banning non essential international & domestic travel:
https://www.npr.org/2020/03/03/81172...ogle-is-latest
Even when conferences are not cancelled, companies that do not have travel bans are pulling their attendance.
https://www.techrepublic.com/article...ces-worldwide/
These are not all inclusive lists. Just a basic search for Corona Virus travel ban comes up with a ton of companies that aren’t even listed on the first link (UBS, Ford, Chrysler, way too many more for me to list).
No doubt it will get worse before it gets better. We need to see these travel bans rescinded and these conference cancellations to stop, otherwise I think we are in for a rough ride.
Conferences being cancelled:
https://www.wsj.com/articles/coronav...it-11583317802
Companies banning non essential international & domestic travel:
https://www.npr.org/2020/03/03/81172...ogle-is-latest
Even when conferences are not cancelled, companies that do not have travel bans are pulling their attendance.
https://www.techrepublic.com/article...ces-worldwide/
These are not all inclusive lists. Just a basic search for Corona Virus travel ban comes up with a ton of companies that aren’t even listed on the first link (UBS, Ford, Chrysler, way too many more for me to list).
No doubt it will get worse before it gets better. We need to see these travel bans rescinded and these conference cancellations to stop, otherwise I think we are in for a rough ride.
03-06-2020, 07:00 AM
#43
On Reserve
Joined APC: Nov 2019
Posts: 17
IMO - the airlines will be OK for the short term since they started waving change/cancellation fees for travel booked 3/1 or after. Some of those cancellation fees are higher than the actual fares. With a reduction in overall operating costs - you may actually see some pretty good initial financial reports. However - if this panic lasts for the entire next quarter - then you'll see some pain.
03-06-2020, 08:25 AM
#44
Gets Weekends Off
Joined APC: Sep 2014
Posts: 390
Corporate travel decisions are being made by unreasonably risk-averse (scared) bureaucrats out of an abundance of caution (FEAR) to avoid forcing employees (LAWSUIT) to travel via air and stay in hotels ("petri dishes"?). Those very same (reasonable) employees are enjoying the time off, low air fares and empty hotels. Point? While the general population recognizes the media's sensationalist attention-wh0re tactics towards the flu, the corporate sector and government freak out, making matters worse.
Not exactly confidence-inspiring. Unlike third world countries, the world's "most respected" CDC, having had months to prepare, finally sends out test kits, but in typical government fashion, were found to be defective. Epic fail, rendering the US unaware of it's status, driving panic and hysteria (South Korea has drive-thru testing).
Unlike the bold and brave leaders of the past, today's private and public sector 'managers' are promoted by not causing lawsuits, not hurting feelings, not taking risks. Media sells via panic, public and private sector responds on cue, markets sectors collapse, 401Ks suffer. Perfect storm, new normal.
Kudos to yesterday's poster that was buying airline stocks. UAL is up 7% this morning, DAL and LUV also up (3%). Good to see level heads profit from the panicking hens.
Not exactly confidence-inspiring. Unlike third world countries, the world's "most respected" CDC, having had months to prepare, finally sends out test kits, but in typical government fashion, were found to be defective. Epic fail, rendering the US unaware of it's status, driving panic and hysteria (South Korea has drive-thru testing).
Unlike the bold and brave leaders of the past, today's private and public sector 'managers' are promoted by not causing lawsuits, not hurting feelings, not taking risks. Media sells via panic, public and private sector responds on cue, markets sectors collapse, 401Ks suffer. Perfect storm, new normal.
Kudos to yesterday's poster that was buying airline stocks. UAL is up 7% this morning, DAL and LUV also up (3%). Good to see level heads profit from the panicking hens.
Last edited by tyler durden; 03-06-2020 at 08:49 AM.
03-06-2020, 10:01 AM
#45
Gets Weekends Off
Joined APC: Nov 2013
Position: Taxi Driver
Posts: 414
Corporate travel decisions are being made by unreasonably risk-averse (scared) bureaucrats out of an abundance of caution (FEAR) to avoid forcing employees (LAWSUIT) to travel via air and stay in hotels ("petri dishes"?). Those very same (reasonable) employees are enjoying the time off, low air fares and empty hotels. Point? While the general population recognizes the media's sensationalist attention-wh0re tactics towards the flu, the corporate sector and government freak out, making matters worse.
Not exactly confidence-inspiring. Unlike third world countries, the world's "most respected" CDC, having had months to prepare, finally sends out test kits, but in typical government fashion, were found to be defective. Epic fail, rendering the US unaware of it's status, driving panic and hysteria (South Korea has drive-thru testing).
Unlike the bold and brave leaders of the past, today's private and public sector 'managers' are promoted by not causing lawsuits, not hurting feelings, not taking risks. Media sells via panic, public and private sector responds on cue, markets sectors collapse, 401Ks suffer. Perfect storm, new normal.
Kudos to yesterday's poster that was buying airline stocks. UAL is up 7% this morning, DAL and LUV also up (3%). Good to see level heads profit from the panicking hens.
Not exactly confidence-inspiring. Unlike third world countries, the world's "most respected" CDC, having had months to prepare, finally sends out test kits, but in typical government fashion, were found to be defective. Epic fail, rendering the US unaware of it's status, driving panic and hysteria (South Korea has drive-thru testing).
Unlike the bold and brave leaders of the past, today's private and public sector 'managers' are promoted by not causing lawsuits, not hurting feelings, not taking risks. Media sells via panic, public and private sector responds on cue, markets sectors collapse, 401Ks suffer. Perfect storm, new normal.
Kudos to yesterday's poster that was buying airline stocks. UAL is up 7% this morning, DAL and LUV also up (3%). Good to see level heads profit from the panicking hens.
Airline stocks are up because Kudlow suggested there might be a stimulus package coming.
03-06-2020, 10:46 AM
#46
Strike averted!
Joined APC: Mar 2015
Position: B737
Posts: 3,821
My father is recently retired after 50+ years in the food business. His company reports so far they may lose half their bookings (primarily large scale catering) for the year if the trend continues. These aren’t small events—most of their stuff averages 500 people per event.
A buddy of mine that does engineering troubleshooting for cell towers reported that his company is banning travel as well.
A friend’s husband runs a tour company—upcoming tours are cancelled.
This stuff is going to hurt.
A buddy of mine that does engineering troubleshooting for cell towers reported that his company is banning travel as well.
A friend’s husband runs a tour company—upcoming tours are cancelled.
This stuff is going to hurt.
03-06-2020, 11:17 AM
#47
Gets Weekends Off
Joined APC: Sep 2014
Posts: 390
Good to know uncle sugar is back to debt spending to bail out their mistakes with private industries. Print more dough. $21Trillion and counting. Would be great if they could stop reacting/panicking and focus on proactively doing the job they're supposed to do. Not Monday morning QB but by all accounts the CDC was stunningly flat footed and late on this.
Reminds me of the last bailout cuz of criminally failed oversight. Too big to fail excuse, AIG, Bear Stearns,...HHS, Fannie Mae (housing loan default credit crisis) , SEC (Bernie Madoff), DHS (napolitano; shoe bomber "system worked"??) FAA/DOD (911 embarrassing botched communications, response, Max cert), CDC, FBI (FISA, Comey) ATF (fast and furious), DOJ, FDA, DOT, etc. Oh, and the congress, senate, White House that oversee the mess. Honestly can't remember the last time the gummint actually did something right. Clearly not a fan of bigger government.
Sorry for the rant. Not looking for a political debate, just tired of paying (borrowing) into ruinous debt for reactionary, criminally flawed responses to non-existent hyped up 'crises'. $8.5B to deal with the flu? Where was the CDC spending our tax dollars back in Dec?
What's the next crisis/bailout?
Sincerely,
"Fed" up.
Last edited by tyler durden; 03-06-2020 at 11:33 AM.
03-06-2020, 12:44 PM
#49
Banned
Joined APC: Jun 2019
Posts: 442
Sun Country announces cuts. Sun Country Airlines trims spring and summer flights due to coronavirus | Star Tribune
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