Below is an aggregated list of passenger airline companies that have communicated to external stakeholders regarding COVID-19 impacts. The Clermont Partners team will continue to monitor industry movements; however, we do anticipate the volume of communications, specifically around guidance updates, will increase as companies work on closing out the quarter and have a better idea of the impact this pandemic is likely to have on near-term operations.
***Updated as of 5:30 PM CST on May 7, 2020
Guidance withdrawn
- American Airlines
- Allegiant Travel Company
- Copa Holdings
- Delta Air Lines
- Hawaiian Holdings
- JetBlue Airways
- Mesa Air Group
- SkyWest
- Southwest Airlines
- Spirit Airlines
- United Airlines
Dividend suspension
Executive compensation reductions
- American Airlines
- Allegiant Travel Company
- Spirit Airlines
- Southwest Airlines
- JetBlue Airways
- Delta Air Lines
Share repurchase suspension
- Delta Air Lines
- Allegiant Travel Company
- Alaska Air Group
- United Airlines
- Delta Air Lines
- Hawaiian Holdings
- JetBlue Airways
- Southwest Airlines
- United Airlines
- SkyWest
Implementation of flight restrictions and other strategic measures
- Alaska Air Group, reduced flight schedule for April and May by 70%, updated capacity reduction plans to reflect 80% cuts in April and May
- Allegiant Travel Company
- American Airlines, cutting summer international capacity by 60%, additional adjustments to schedule
- Copa Holdings
- Delta Air Lines
- Hawaiian Holdings, sharp declines in system-wide traffic statistics in March
- JetBlue Airways, temporarily consolidates service in five domestic metro areas
- SkyWest
- Southwest Airlines
- United Airlines, cutting nearly 90% of New York-area flying, cut ranks of managers at least 30%
FAQ
Earnings
- Delta Air Lines: March quarter 2020 earnings results
- Copa Holdings: reports preliminary results, 1Q20 earnings results
- United Airlines: reports preliminary results, 1Q20 earnings results, 10-Q
- Southwest Airlines: 1Q20 earnings release, 10-Q
- American Airlines: 1Q20 earnings release, 10-Q
- Alaska Air Group: 1Q20 earnings release, COVID-19 response
- Hawaiian Holdings: 1Q20 earnings release, 10-Q
- Spirit Airlines: 1Q20 earnings release, 10-Q
- JetBlue Airways: 1Q20 earnings release
- Mesa Air Group: April 2020 operating performance
- SkyWest: 1Q20 earnings release
General statements issued on social media or corporate sites and other initiatives
- Alaska Air Group, requiring face masks for frontline employees and flyers
- Allegiant Travel Company, announced agreement with Treasury Department for payroll support under CARES act, offering masks and gloves on flights
- American Airlines, notes distribution of employee letter relating to COVID-19 in 8-K, offering PPE to customers
- Copa Holdings
- Delta Air Lines, projects 90% revenue drop, statements throughout 10-Q (reports first loss in five years), senior secured notes offering, requiring that customers wear face coverings, COVID-19 response actions
- Hawaiian Holdings, sharp declines in system-wide traffic statistics in March, March and 1Q20 traffic stats reflect COVID-19, 8-K detailing entry into PSP agreement, requiring that customers to wear face masks
- JetBlue Airways, CEO statement regarding CARES Act, tapped credit-line capacity with $550 million drawdown, requiring all customers to wear face masks during travel
- SkyWest, virtual annual meeting
- Southwest Airlines, virtual annual meeting, announced offering of common stock and convertible senior notes
- Spirit Airlines, pandemic update in 8-K, limited duration stockholder rights agreement, commenced an underwritten public offering of 55,000,000 shares of common stock of the Company, virtual annual meeting, requiring that customers wear face masks
- United Airlines, announced it will not conduct involuntary furloughs or pay cuts, partnering with New York to provide free flights to volunteers, waived all 2020 change fees, letter from CEO addressing Payroll Support Program, cut 80% capacity in April and expects to cut 90% capacity in May / expects $2.1 billion loss, addition of COVID-19 to risk factors, announced proposed senior secured notes offering
Monitored companies
- Alaska Air Group, Inc.
- Allegiant Travel Company
- American Airlines Group, Inc.
- Copa Holdings, S.A. Class A
- Delta Air Lines, Inc.
- Hawaiian Holdings, Inc.
- JetBlue Airways Corporation
- Mesa Air Group Inc
- SkyWest, Inc
- Southwest Airlines Co.
- Spirit Airlines, Inc.
- United Airlines Holdings, Inc.
