U.S. Airlines Report Third Quarter 2020 Losses
U.S. scheduled passenger airlines reported a third-quarter 2020 after-tax net loss of $11.8 billion and a pre-tax operating loss of $15.9 billion.
These third-quarter losses are the third consecutive quarterly losses following 27 consecutive quarterly after-tax net profits and 35 consecutive quarterly pre-tax operating profits. One year earlier, in the third quarter of 2019, the airlines reported an after-tax net profit of $4.6 billion and a pre-tax operating profit of $6.4 billion.