Industries

Hospitality & Travel

Southwest Airlines says has enough cash for two years as demand improves

Southwest Airlines says has enough cash for two years as demand improves

Source: Reuters
Date of Publication: June 17th, 2020
Southwest Airlines (LUV.N) said on Wednesday it has enough cash to carry on business for the next two years, up from its prior forecast of 20 months, as travel demand gradually picks up.
United Airlines sweetens exit deal for flight attendants, others

United Airlines sweetens exit deal for flight attendants, others

By: Tracy Rucinski
Source: Reuters
Date of Publication: June 17th, 2020
United Airlines (UAL.O) sweetened on Tuesday a voluntary exit package for frontline employees like flight attendants and gate agents, saying it needed “a lot more people to sign up” to avoid involuntary layoffs in October, according to a staff email seen by Reuters.
'Brands Are Really Going To Be Judged.' Companies Are Walking a Tightrope During the COVID-19 Pandemic

'Brands Are Really Going To Be Judged.' Companies Are Walking a Tightrope During the COVID-19 Pandemic

By: Katy Steinmetz
Source: Time Magazine
Date of Publication: April 2nd, 2020
Like just about everyone, Hotels.com had to change plans when the pandemic arrived.
Hilton Cutting About 22% of Global Corporate Workforce - WSJ

Hilton Cutting About 22% of Global Corporate Workforce

By: Allison Prang and Craig Karmin
Source: The Wall Street Journal
Date of Publication: June 16th, 2020
Hotel operator’s job reductions amount to 2,100 employees as coronavirus hits travel, occupancy levels.
Airlines Are Losing Money. They Will Still Buy a Lot of Planes - WSJ

Airlines Are Losing Money. They Will Still Buy a Lot of Planes

By: Jon Sindreu
Source: The Wall Street Journal
Date of Publication: June 16th, 2020
Investors don’t seem to trust the multi-year order backlogs of Boeing and Airbus, but airlines can’t easily walk back plane-purchase commitments.
United to Put Up Frequent-Flier Program for $5 Billion Loan_WSJ

United to Put Up Frequent-Flier Program for $5 Billion Loan

By: Alison Sider
Source: The Wall Street Journal
Date of Publication: June 15th, 2020
United expects to have $17 billion in liquidity by the end of the third quarter as it grapples with the impact of the coronavirus pandemic.
More than 40,000 cruise ship workers still stranded at sea amid coronavirus pandemic

More than 40,000 cruise ship workers still stranded at sea amid coronavirus pandemic

By: Theresa Braine
Source: New York Daily News
Date of Publication: June 14th, 2020
Three months after the cruise industry stopped sailing in the heat of the coronavirus pandemic, 40,000 crew members are still stranded at sea – unpaid, with some still testing positive for the pathogen.
Bankrupt Hertz files to sell up to $500 million in stock, with warning they could be 'worthless'

Bankrupt Hertz files to sell up to $500 million in stock, with warning they could be 'worthless'

By: Tomi Kilgore
Source: Market Watch
Date of Publication: June 15th, 2020
Shares of Hertz Global Holdings Inc. HTZ, -13.78% plunged 20% in premarket trading Monday, after the bankrupt car rental company filed for the sale up up to $500 million worth of common stock. The filing comes after Hertz received approval on Friday from a bankruptcy court to sell up to $1 billion in stock. The company warned in the filing that because the company is bankrupt, the common stock could be rendered "worthless."
American, Delta say demand uptick helping cash burn; United requiring health checklists

American, Delta say demand uptick helping cash burn; United requiring health checklists

By: David Shepardson, Tracy Rucinski
Source: Reuters
Date of Publication: June 10th, 2020
American Airlines Group Inc (AAL.O) and Delta Air Lines Inc (DAL.N) said on Wednesday that a modest recovery in demand was helping to slow daily cash burn rates in June after the U.S. government reported record low passenger numbers in April amid the coronavirus pandemic.
How Uber hailed a deal with Grubhub only to let it slip

How Uber hailed a deal with Grubhub only to let it slip

By: Krystal Hu, Greg Roumeliotis
Source: Reuters
Date of Publication: June 11th, 2020
Uber Technologies Inc (UBER.N) CEO Dara Khosrowshahi has spent much of his career deftly negotiating acquisitions. Yet his $6.5 billion all-stock bid for Grubhub Inc (GRUB.N) ended with the food delivery company being acquired by European rival Just Eat Takeway.com NV (TKWY.AS).