Edition:
United Kingdom

Sanjana Shivdas

American Airlines expects to halt cash burn by year-end, shares jump

12 Jun 2020

American Airlines Group Inc said on Friday it expects to halt its daily cash burn by the end of 2020 thanks to cost-cutting measures and an improvement in travel demand, easing concerns about its short-term liquidity. | Video

Parts maker Visteon expects global auto output to plunge up to 25%

11 Jun 2020

Major auto parts supplier Visteon Corp on Thursday forecast global production volumes for the auto industry to fall between 20% and 25% this year and warned it would be a couple of years before they returned to 2019 levels.

Stitch Fix to cut 1,400 jobs in California, invest in other U.S. states

02 Jun 2020

Stitch Fix Inc said on Monday it plans to cut up to 1,400 jobs in California and invest in other U.S. states where the apparel seller would offer new roles to all those affected.

Expedia signals May rebound as cancellations stabilize

21 May 2020

Online travel booking company Expedia Group Inc on Wednesday pointed to demand recovering in May as cancellation rates stabilize, overshadowing a bigger-than-expected quarterly loss and sending its shares up nearly 4%.

U.S. travelers pick car rentals over flights for holidays: travel website Kayak

20 May 2020

Travel website Kayak is seeing more demand for car rentals than air travel from customers looking to avoid crowds and stay closer to home as U.S. states reopen, Chief Executive Officer Steve Hafner told Reuters on Wednesday.

Shut casinos hit Caesars as COVID-19 puts gambling industry in survival mode

11 May 2020

Caesars Entertainment Corp missed quarterly revenue estimates on Monday as it shuttered its casinos amid nationwide lockdowns to contain the spread of the COVID-19 pandemic.

Bombardier to continue Global 7500 jet ramp-up, as cash flow slips

07 May 2020

Bombardier Inc on Thursday said it will ramp up production of its flagship Global 7500 corporate jets, but its shares slipped 12% in afternoon trading as the company forecast a large negative cash flow due to pandemic-related delivery delays.

Harley appoints turnaround specialist Jochen Zeitz to revive sales

07 May 2020

Harley-Davidson Inc on Thursday appointed board member and turnaround specialist Jochen Zeitz to the role of chief executive officer, as the struggling motorcycle maker looks to tap into his expertise to woo customers and revive sales.

American Airlines posts $2.2 billion loss on pandemic, first since bankruptcy exit

30 Apr 2020

American Airlines on Thursday posted a $2.2 billion net loss, its first quarterly loss since emerging from bankruptcy in 2013, and warned of a roughly $70 million per day cash burn in the second quarter as the coronavirus pandemic halts travel.

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