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MayWaitJune
2021-02-08
Good news
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MayWaitJune
2021-02-08
Space is the trend
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MayWaitJune
2021-02-08
They will recover once COVID19 go away
Despite huge losses, US airlines are rolling in cash<blockquote>尽管亏损巨大，美国航空公司仍在不断增加现金</blockquote>
MayWaitJune
2021-02-08
Watch out
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is the trend","listText":"Space is the trend","text":"Space is the trend","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/389652287","repostId":"1138926307","repostType":4,"isVote":1,"tweetType":1,"viewCount":1538,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":389656716,"gmtCreate":1612771077635,"gmtModify":1703764769913,"author":{"id":"3561251654144641","authorId":"3561251654144641","name":"MayWaitJune","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3561251654144641","idStr":"3561251654144641"},"themes":[],"htmlText":"They will recover once COVID19 go away","listText":"They will recover once COVID19 go away","text":"They will recover once COVID19 go away","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/389656716","repostId":"1142252368","repostType":4,"repost":{"id":"1142252368","kind":"news","pubTimestamp":1612768568,"share":"https://www.laohu8.com/m/news/1142252368?lang=zh_CN&edition=full","pubTime":"2021-02-08 15:16","market":"us","language":"en","title":"Despite huge losses, US airlines are rolling in cash<blockquote>尽管亏损巨大，美国航空公司仍在不断增加现金</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1142252368","media":"CNN Business","summary":"New York (CNN Business) The US airline industry just closed the books on theworst year in its histor","content":"<p><b>New York (CNN Business)</b> The US airline industry just closed the books on theworst year in its history, losing a combined $32 billion excluding special items. Yet it still ended 2020 awash in an ocean of cash.</p><p><blockquote><b>纽约（CNN商业）</b>美国航空业刚刚结束了其历史上最糟糕的一年，不包括特殊项目，总共损失了320亿美元。然而，2020年结束时，它仍然充斥着大量现金。</blockquote></p><p> The nation's four largest airlines --American(AAL),Delta(DAL),United(UAL)andSouthwest(LUV)-- among themhad $31.5 billion in cash on their balance sheets at the end of 2020. That's up from $13 billion a year earlier, before the pandemic hit. \"Liquidity\" has become a favorite buzzword of airline executives discussing their financial condition. Including the cash and yet untapped credit lines, the airlines have access tonearly $65 billion.</p><p><blockquote>截至2020年底，美国四大航空公司——美国航空(AAL)、达美航空(DAL)、联合航空(UAL)和西南航空(LUV)——资产负债表上的现金为315亿美元。这高于一年前大流行爆发前的130亿美元。“流动性”已成为航空公司高管讨论其财务状况时最喜欢使用的流行语。包括现金和尚未开发的信贷额度在内，航空公司最多可以获得650亿美元。</blockquote></p><p> \"The liquidity is at record levels,\" said Philip Baggaley, chief credit analyst for the airline industry at Standard & Poor's. \"That's good, and it's one of the few strong points they have at this point.\"</p><p><blockquote>标准普尔航空业首席信贷分析师菲利普·巴格利表示：“流动性处于创纪录水平。”“这很好，这是他们目前为数不多的优势之一。”</blockquote></p><p> The airlines received substantial financial help from the federal government, but most of that money was required to be spent keeping staff on payrolls temporarily.</p><p><blockquote>航空公司从联邦政府获得了大量的财政帮助，但大部分资金被要求用于暂时留住员工。</blockquote></p><p> The lion's shareof the borrowing and cash, then, comes from from banks and Wall Street. Like a struggling family flooded with credit card offers, the airlines have a lot of people eager to give them cash.</p><p><blockquote>因此，大部分借款和现金来自银行和华尔街。就像一个陷入困境的家庭被信用卡优惠淹没一样，航空公司有很多人渴望给他们现金。</blockquote></p><p> The airlines have sold bonds, borrowed money<b>,</b>mortgaged their planes,frequent flyer programsand other assets, and evensold additional shares of stock, a highly unusual move for an industry in this position.</p><p><blockquote>航空公司出售债券，借钱<b>,</b>抵押了他们的飞机、常旅客计划和其他资产，甚至出售了额外的股票，这对于处于这种地位的行业来说是非常不寻常的举动。</blockquote></p><p> The borrowing has added about $40 billion in long-term debt to the balance sheets of the nation's airlines.</p><p><blockquote>此次借款使美国航空公司的资产负债表增加了约400亿美元的长期债务。</blockquote></p><p> \"I think the general feeling is they're wounded but they're going to make it,\" said Baggaley. The low interest rate environment has helped the airlines, as investors and banks looking for yields have been willing to lend to the airlines, he added. All the carriers except Southwest have junk bond credit ratings.</p><p><blockquote>“我认为普遍的感觉是他们受伤了，但他们会挺过来的，”巴格利说。他补充说，低利率环境帮助了航空公司，因为寻求收益的投资者和银行愿意向航空公司提供贷款。除西南航空外，所有航空公司都拥有垃圾债券信用评级。</blockquote></p><p> They have also made deep cost cuts, even with government help that prevented them from making permanent, involuntary job cuts.</p><p><blockquote>他们还大幅削减了成本，即使政府帮助阻止了他们进行永久性的、非自愿的裁员。</blockquote></p><p> The airlines used buyouts and early retirement to cut about 16% of the staff they had at the start of 2021. In recent weeks, American and United sent out layoff notices to 27,000 employees between them, saying they could again be furloughed unless there is a third round of government assistance before April 1.</p><p><blockquote>2021年初，航空公司利用买断和提前退休的方式裁员约16%。最近几周，美国航空和联合航空向27,000名员工发出了裁员通知，称除非4月1日之前政府提供第三轮援助，否则他们可能会再次休假。</blockquote></p><p> Many of those employees had been laid off in Octoberwhen the first round of federal payroll support ran out, and were called back to work in December when thesecond Covid relief package provided an additional $17 billion to the industry. Last week, airline unions were back on Capitol Hill appealing for another round of help to keep their members employed.</p><p><blockquote>其中许多员工在10月份第一轮联邦工资支持用完时被解雇，并在12月份第二轮新冠救助计划为该行业额外提供了170亿美元时被召回工作。上周，航空公司工会回到国会山，呼吁提供新一轮帮助，以保持其成员的就业。</blockquote></p><p> The cost cuts slashed the rate at which the airlines burned through cash by about half between the second quarter to the fourth quarter last year, even as air travel and revenuesremained a fraction of what they were before the pandemic.</p><p><blockquote>去年第二季度至第四季度期间，成本削减将航空公司的现金消耗率削减了约一半，尽管航空旅行和收入仍仅为疫情爆发前的一小部分。</blockquote></p><p> But even as they trimmed the pace of cash burn, the four airlines combined blew through $115 million a day over the course of the final nine months of 2020. And they expect to continue burning through cash, albeit at a slower pace, in the first half of 2021. Building a substantial cash reserve is the only sure way to get through this unprecedented financial crisis, airline executives say.</p><p><blockquote>但即使他们降低了现金消耗的速度，这四家航空公司在2020年最后9个月内每天的支出总计达到1.15亿美元。他们预计2021年上半年将继续烧钱，尽管速度较慢。航空公司高管表示，建立大量现金储备是度过这场前所未有的金融危机的唯一可靠方法。</blockquote></p><p> \"Our industry still has a long path to recovery ahead,\" said American CEO Doug Parker on recent conference call with investors. He said the accumulation of cash, combined with cost cutting, built up \"gives us confidence that we are well positioned for the year ahead and the long term.\"</p><p><blockquote>“我们的行业还有很长的复苏之路，”美国首席执行官道格·帕克在最近与投资者的电话会议上表示。他表示，现金的积累，加上成本的削减，“让我们有信心为未来一年和长期做好准备。”</blockquote></p><p> Other than Southwest, which just posted its first annual losssince 1973, the nation's other major airlines all have at least one bankruptcy in their histories. The industry's current strong cash position raises hopes that they can avoid that fate this time. But that depends on when traffic returns, and even the airlines aren't sure when that will be.</p><p><blockquote>除了刚刚公布自1973年以来首次年度亏损的西南航空公司外，美国其他主要航空公司历史上都至少经历过一次破产。该行业目前强劲的现金状况让人们希望他们这次能够避免这种命运。但这取决于交通何时恢复，甚至航空公司也不确定何时恢复。</blockquote></p><p> \"I've got 10 straight months of data saying that people are ready to travel in six months. It keeps saying the same thing,\" American's Parker said in an interview on CNBC recently. \"What I do believe is that once people are comfortable, it will come back relatively quickly. There is huge pent-up demand to travel. We hear it everywhere we go. But no one is going to travel until there are things to do when you travel, and until the vaccine is distributed and the pandemic is largely eradicated.\"</p><p><blockquote>美国航空公司的帕克最近在接受CNBC采访时表示：“我已经连续10个月的数据表明，人们准备在六个月内旅行。它一直在说同样的话。”“我确实相信的是，一旦人们感到舒适，它就会相对较快地回来。人们对旅行有巨大的被压抑的需求。我们所到之处都能听到这种需求。但没有人会去旅行，直到你旅行时有事情可做，直到疫苗分发完毕，大流行基本被根除。”</blockquote></p><p> S&P's Baggaley believes airlines \"are past the worst of it,\" he said. None of them have filed for bankruptcy, and he believes the odds are that they won't.</p><p><blockquote>标准普尔的巴格利认为航空公司“已经度过了最糟糕的时期”，他说。他们都没有申请破产，他相信他们很可能不会。</blockquote></p><p></p><p> But he cautions that unlike the string of retail bankruptcies early last year that took place weeks or months into the crisis, airline bankruptcies historically can occur years after a financial crisis. Delta and Northwestdidn't file until 2005, years after 9/11. Americandidn't file until 2011, well after the Great Recession.</p><p><blockquote>但他警告说，与去年初危机发生数周或数月后发生的一系列零售业破产不同，航空公司破产历史上可能发生在金融危机发生数年后。达美航空和西北航空直到2005年才提交申请，也就是9/11几年后。美国直到2011年才提交申请，那是在大衰退之后很久。</blockquote></p><p> \"It's a reasonable concern that they are going to emerge from this with a lot more debt,\" he said.</p><p><blockquote>他说：“人们有理由担心他们将背负更多债务。”</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Despite huge losses, US airlines are rolling in cash<blockquote>尽管亏损巨大，美国航空公司仍在不断增加现金</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDespite huge losses, US airlines are rolling in cash<blockquote>尽管亏损巨大，美国航空公司仍在不断增加现金</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">CNN Business</strong><span class=\"h-time small\">2021-02-08 15:16</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>New York (CNN Business)</b> The US airline industry just closed the books on theworst year in its history, losing a combined $32 billion excluding special items. Yet it still ended 2020 awash in an ocean of cash.</p><p><blockquote><b>纽约（CNN商业）</b>美国航空业刚刚结束了其历史上最糟糕的一年，不包括特殊项目，总共损失了320亿美元。然而，2020年结束时，它仍然充斥着大量现金。</blockquote></p><p> The nation's four largest airlines --American(AAL),Delta(DAL),United(UAL)andSouthwest(LUV)-- among themhad $31.5 billion in cash on their balance sheets at the end of 2020. That's up from $13 billion a year earlier, before the pandemic hit. \"Liquidity\" has become a favorite buzzword of airline executives discussing their financial condition. Including the cash and yet untapped credit lines, the airlines have access tonearly $65 billion.</p><p><blockquote>截至2020年底，美国四大航空公司——美国航空(AAL)、达美航空(DAL)、联合航空(UAL)和西南航空(LUV)——资产负债表上的现金为315亿美元。这高于一年前大流行爆发前的130亿美元。“流动性”已成为航空公司高管讨论其财务状况时最喜欢使用的流行语。包括现金和尚未开发的信贷额度在内，航空公司最多可以获得650亿美元。</blockquote></p><p> \"The liquidity is at record levels,\" said Philip Baggaley, chief credit analyst for the airline industry at Standard & Poor's. \"That's good, and it's one of the few strong points they have at this point.\"</p><p><blockquote>标准普尔航空业首席信贷分析师菲利普·巴格利表示：“流动性处于创纪录水平。”“这很好，这是他们目前为数不多的优势之一。”</blockquote></p><p> The airlines received substantial financial help from the federal government, but most of that money was required to be spent keeping staff on payrolls temporarily.</p><p><blockquote>航空公司从联邦政府获得了大量的财政帮助，但大部分资金被要求用于暂时留住员工。</blockquote></p><p> The lion's shareof the borrowing and cash, then, comes from from banks and Wall Street. Like a struggling family flooded with credit card offers, the airlines have a lot of people eager to give them cash.</p><p><blockquote>因此，大部分借款和现金来自银行和华尔街。就像一个陷入困境的家庭被信用卡优惠淹没一样，航空公司有很多人渴望给他们现金。</blockquote></p><p> The airlines have sold bonds, borrowed money<b>,</b>mortgaged their planes,frequent flyer programsand other assets, and evensold additional shares of stock, a highly unusual move for an industry in this position.</p><p><blockquote>航空公司出售债券，借钱<b>,</b>抵押了他们的飞机、常旅客计划和其他资产，甚至出售了额外的股票，这对于处于这种地位的行业来说是非常不寻常的举动。</blockquote></p><p> The borrowing has added about $40 billion in long-term debt to the balance sheets of the nation's airlines.</p><p><blockquote>此次借款使美国航空公司的资产负债表增加了约400亿美元的长期债务。</blockquote></p><p> \"I think the general feeling is they're wounded but they're going to make it,\" said Baggaley. The low interest rate environment has helped the airlines, as investors and banks looking for yields have been willing to lend to the airlines, he added. All the carriers except Southwest have junk bond credit ratings.</p><p><blockquote>“我认为普遍的感觉是他们受伤了，但他们会挺过来的，”巴格利说。他补充说，低利率环境帮助了航空公司，因为寻求收益的投资者和银行愿意向航空公司提供贷款。除西南航空外，所有航空公司都拥有垃圾债券信用评级。</blockquote></p><p> They have also made deep cost cuts, even with government help that prevented them from making permanent, involuntary job cuts.</p><p><blockquote>他们还大幅削减了成本，即使政府帮助阻止了他们进行永久性的、非自愿的裁员。</blockquote></p><p> The airlines used buyouts and early retirement to cut about 16% of the staff they had at the start of 2021. In recent weeks, American and United sent out layoff notices to 27,000 employees between them, saying they could again be furloughed unless there is a third round of government assistance before April 1.</p><p><blockquote>2021年初，航空公司利用买断和提前退休的方式裁员约16%。最近几周，美国航空和联合航空向27,000名员工发出了裁员通知，称除非4月1日之前政府提供第三轮援助，否则他们可能会再次休假。</blockquote></p><p> Many of those employees had been laid off in Octoberwhen the first round of federal payroll support ran out, and were called back to work in December when thesecond Covid relief package provided an additional $17 billion to the industry. Last week, airline unions were back on Capitol Hill appealing for another round of help to keep their members employed.</p><p><blockquote>其中许多员工在10月份第一轮联邦工资支持用完时被解雇，并在12月份第二轮新冠救助计划为该行业额外提供了170亿美元时被召回工作。上周，航空公司工会回到国会山，呼吁提供新一轮帮助，以保持其成员的就业。</blockquote></p><p> The cost cuts slashed the rate at which the airlines burned through cash by about half between the second quarter to the fourth quarter last year, even as air travel and revenuesremained a fraction of what they were before the pandemic.</p><p><blockquote>去年第二季度至第四季度期间，成本削减将航空公司的现金消耗率削减了约一半，尽管航空旅行和收入仍仅为疫情爆发前的一小部分。</blockquote></p><p> But even as they trimmed the pace of cash burn, the four airlines combined blew through $115 million a day over the course of the final nine months of 2020. And they expect to continue burning through cash, albeit at a slower pace, in the first half of 2021. Building a substantial cash reserve is the only sure way to get through this unprecedented financial crisis, airline executives say.</p><p><blockquote>但即使他们降低了现金消耗的速度，这四家航空公司在2020年最后9个月内每天的支出总计达到1.15亿美元。他们预计2021年上半年将继续烧钱，尽管速度较慢。航空公司高管表示，建立大量现金储备是度过这场前所未有的金融危机的唯一可靠方法。</blockquote></p><p> \"Our industry still has a long path to recovery ahead,\" said American CEO Doug Parker on recent conference call with investors. He said the accumulation of cash, combined with cost cutting, built up \"gives us confidence that we are well positioned for the year ahead and the long term.\"</p><p><blockquote>“我们的行业还有很长的复苏之路，”美国首席执行官道格·帕克在最近与投资者的电话会议上表示。他表示，现金的积累，加上成本的削减，“让我们有信心为未来一年和长期做好准备。”</blockquote></p><p> Other than Southwest, which just posted its first annual losssince 1973, the nation's other major airlines all have at least one bankruptcy in their histories. The industry's current strong cash position raises hopes that they can avoid that fate this time. But that depends on when traffic returns, and even the airlines aren't sure when that will be.</p><p><blockquote>除了刚刚公布自1973年以来首次年度亏损的西南航空公司外，美国其他主要航空公司历史上都至少经历过一次破产。该行业目前强劲的现金状况让人们希望他们这次能够避免这种命运。但这取决于交通何时恢复，甚至航空公司也不确定何时恢复。</blockquote></p><p> \"I've got 10 straight months of data saying that people are ready to travel in six months. It keeps saying the same thing,\" American's Parker said in an interview on CNBC recently. \"What I do believe is that once people are comfortable, it will come back relatively quickly. There is huge pent-up demand to travel. We hear it everywhere we go. But no one is going to travel until there are things to do when you travel, and until the vaccine is distributed and the pandemic is largely eradicated.\"</p><p><blockquote>美国航空公司的帕克最近在接受CNBC采访时表示：“我已经连续10个月的数据表明，人们准备在六个月内旅行。它一直在说同样的话。”“我确实相信的是，一旦人们感到舒适，它就会相对较快地回来。人们对旅行有巨大的被压抑的需求。我们所到之处都能听到这种需求。但没有人会去旅行，直到你旅行时有事情可做，直到疫苗分发完毕，大流行基本被根除。”</blockquote></p><p> S&P's Baggaley believes airlines \"are past the worst of it,\" he said. None of them have filed for bankruptcy, and he believes the odds are that they won't.</p><p><blockquote>标准普尔的巴格利认为航空公司“已经度过了最糟糕的时期”，他说。他们都没有申请破产，他相信他们很可能不会。</blockquote></p><p></p><p> But he cautions that unlike the string of retail bankruptcies early last year that took place weeks or months into the crisis, airline bankruptcies historically can occur years after a financial crisis. Delta and Northwestdidn't file until 2005, years after 9/11. Americandidn't file until 2011, well after the Great Recession.</p><p><blockquote>但他警告说，与去年初危机发生数周或数月后发生的一系列零售业破产不同，航空公司破产历史上可能发生在金融危机发生数年后。达美航空和西北航空直到2005年才提交申请，也就是9/11几年后。美国直到2011年才提交申请，那是在大衰退之后很久。</blockquote></p><p> \"It's a reasonable concern that they are going to emerge from this with a lot more debt,\" he said.</p><p><blockquote>他说：“人们有理由担心他们将背负更多债务。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://edition.cnn.com/2021/02/07/business/airlines-cash/index.html\">CNN Business</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LUV":"西南航空","UAL":"联合大陆航空","DAL":"达美航空","AAL":"美国航空"},"source_url":"https://edition.cnn.com/2021/02/07/business/airlines-cash/index.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1142252368","content_text":"New York (CNN Business) The US airline industry just closed the books on theworst year in its history, losing a combined $32 billion excluding special items. Yet it still ended 2020 awash in an ocean of cash.\nThe nation's four largest airlines --American(AAL),Delta(DAL),United(UAL)andSouthwest(LUV)-- among themhad $31.5 billion in cash on their balance sheets at the end of 2020. That's up from $13 billion a year earlier, before the pandemic hit. \"Liquidity\" has become a favorite buzzword of airline executives discussing their financial condition. Including the cash and yet untapped credit lines, the airlines have access tonearly $65 billion.\n\"The liquidity is at record levels,\" said Philip Baggaley, chief credit analyst for the airline industry at Standard & Poor's. \"That's good, and it's one of the few strong points they have at this point.\"\nThe airlines received substantial financial help from the federal government, but most of that money was required to be spent keeping staff on payrolls temporarily.\nThe lion's shareof the borrowing and cash, then, comes from from banks and Wall Street. Like a struggling family flooded with credit card offers, the airlines have a lot of people eager to give them cash.\nThe airlines have sold bonds, borrowed money,mortgaged their planes,frequent flyer programsand other assets, and evensold additional shares of stock, a highly unusual move for an industry in this position.\nThe borrowing has added about $40 billion in long-term debt to the balance sheets of the nation's airlines.\n\"I think the general feeling is they're wounded but they're going to make it,\" said Baggaley. The low interest rate environment has helped the airlines, as investors and banks looking for yields have been willing to lend to the airlines, he added. All the carriers except Southwest have junk bond credit ratings.\nThey have also made deep cost cuts, even with government help that prevented them from making permanent, involuntary job cuts.\nThe airlines used buyouts and early retirement to cut about 16% of the staff they had at the start of 2021. In recent weeks, American and United sent out layoff notices to 27,000 employees between them, saying they could again be furloughed unless there is a third round of government assistance before April 1.\nMany of those employees had been laid off in Octoberwhen the first round of federal payroll support ran out, and were called back to work in December when thesecond Covid relief package provided an additional $17 billion to the industry. Last week, airline unions were back on Capitol Hill appealing for another round of help to keep their members employed.\nThe cost cuts slashed the rate at which the airlines burned through cash by about half between the second quarter to the fourth quarter last year, even as air travel and revenuesremained a fraction of what they were before the pandemic.\nBut even as they trimmed the pace of cash burn, the four airlines combined blew through $115 million a day over the course of the final nine months of 2020. And they expect to continue burning through cash, albeit at a slower pace, in the first half of 2021. Building a substantial cash reserve is the only sure way to get through this unprecedented financial crisis, airline executives say.\n\"Our industry still has a long path to recovery ahead,\" said American CEO Doug Parker on recent conference call with investors. He said the accumulation of cash, combined with cost cutting, built up \"gives us confidence that we are well positioned for the year ahead and the long term.\"\nOther than Southwest, which just posted its first annual losssince 1973, the nation's other major airlines all have at least one bankruptcy in their histories. The industry's current strong cash position raises hopes that they can avoid that fate this time. But that depends on when traffic returns, and even the airlines aren't sure when that will be.\n\"I've got 10 straight months of data saying that people are ready to travel in six months. It keeps saying the same thing,\" American's Parker said in an interview on CNBC recently. \"What I do believe is that once people are comfortable, it will come back relatively quickly. There is huge pent-up demand to travel. We hear it everywhere we go. But no one is going to travel until there are things to do when you travel, and until the vaccine is distributed and the pandemic is largely eradicated.\"\nS&P's Baggaley believes airlines \"are past the worst of it,\" he said. None of them have filed for bankruptcy, and he believes the odds are that they won't.\nBut he cautions that unlike the string of retail bankruptcies early last year that took place weeks or months into the crisis, airline bankruptcies historically can occur years after a financial crisis. Delta and Northwestdidn't file until 2005, years after 9/11. Americandidn't file until 2011, well after the Great Recession.\n\"It's a reasonable concern that they are going to emerge from this with a lot more debt,\" he said.","news_type":1,"symbols_score_info":{"AAL":0.9,"UAL":0.9,"LUV":0.9,"DAL":0.9}},"isVote":1,"tweetType":1,"viewCount":1724,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":389656534,"gmtCreate":1612771016428,"gmtModify":1703764769572,"author":{"id":"3561251654144641","authorId":"3561251654144641","name":"MayWaitJune","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3561251654144641","idStr":"3561251654144641"},"themes":[],"htmlText":"Good news","listText":"Good news","text":"Good news","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/389656534","repostId":"2109308181","repostType":4,"isVote":1,"tweetType":1,"viewCount":1595,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":389658531,"gmtCreate":1612770957123,"gmtModify":1703764767862,"author":{"id":"3561251654144641","authorId":"3561251654144641","name":"MayWaitJune","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3561251654144641","idStr":"3561251654144641"},"themes":[],"htmlText":"Watch out","listText":"Watch out","text":"Watch out","images":[{"img":"https://static.tigerbbs.com/56cf2e5dd779b73d306abd79b1674563","width":"720","height":"1327"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/389658531","isVote":1,"tweetType":1,"viewCount":2397,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0}],"hots":[{"id":389656534,"gmtCreate":1612771016428,"gmtModify":1703764769572,"author":{"id":"3561251654144641","authorId":"3561251654144641","name":"MayWaitJune","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3561251654144641","idStr":"3561251654144641"},"themes":[],"htmlText":"Good news","listText":"Good news","text":"Good news","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/389656534","repostId":"2109308181","repostType":4,"isVote":1,"tweetType":1,"viewCount":1595,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":389652287,"gmtCreate":1612771128149,"gmtModify":1703764770938,"author":{"id":"3561251654144641","authorId":"3561251654144641","name":"MayWaitJune","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3561251654144641","idStr":"3561251654144641"},"themes":[],"htmlText":"Space is the trend","listText":"Space is the trend","text":"Space is the trend","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/389652287","repostId":"1138926307","repostType":4,"isVote":1,"tweetType":1,"viewCount":1538,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":389656716,"gmtCreate":1612771077635,"gmtModify":1703764769913,"author":{"id":"3561251654144641","authorId":"3561251654144641","name":"MayWaitJune","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3561251654144641","idStr":"3561251654144641"},"themes":[],"htmlText":"They will recover once COVID19 go away","listText":"They will recover once COVID19 go away","text":"They will recover once COVID19 go away","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/389656716","repostId":"1142252368","repostType":4,"repost":{"id":"1142252368","kind":"news","pubTimestamp":1612768568,"share":"https://www.laohu8.com/m/news/1142252368?lang=zh_CN&edition=full","pubTime":"2021-02-08 15:16","market":"us","language":"en","title":"Despite huge losses, US airlines are rolling in cash<blockquote>尽管亏损巨大，美国航空公司仍在不断增加现金</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1142252368","media":"CNN Business","summary":"New York (CNN Business) The US airline industry just closed the books on theworst year in its histor","content":"<p><b>New York (CNN Business)</b> The US airline industry just closed the books on theworst year in its history, losing a combined $32 billion excluding special items. Yet it still ended 2020 awash in an ocean of cash.</p><p><blockquote><b>纽约（CNN商业）</b>美国航空业刚刚结束了其历史上最糟糕的一年，不包括特殊项目，总共损失了320亿美元。然而，2020年结束时，它仍然充斥着大量现金。</blockquote></p><p> The nation's four largest airlines --American(AAL),Delta(DAL),United(UAL)andSouthwest(LUV)-- among themhad $31.5 billion in cash on their balance sheets at the end of 2020. That's up from $13 billion a year earlier, before the pandemic hit. \"Liquidity\" has become a favorite buzzword of airline executives discussing their financial condition. Including the cash and yet untapped credit lines, the airlines have access tonearly $65 billion.</p><p><blockquote>截至2020年底，美国四大航空公司——美国航空(AAL)、达美航空(DAL)、联合航空(UAL)和西南航空(LUV)——资产负债表上的现金为315亿美元。这高于一年前大流行爆发前的130亿美元。“流动性”已成为航空公司高管讨论其财务状况时最喜欢使用的流行语。包括现金和尚未开发的信贷额度在内，航空公司最多可以获得650亿美元。</blockquote></p><p> \"The liquidity is at record levels,\" said Philip Baggaley, chief credit analyst for the airline industry at Standard & Poor's. \"That's good, and it's one of the few strong points they have at this point.\"</p><p><blockquote>标准普尔航空业首席信贷分析师菲利普·巴格利表示：“流动性处于创纪录水平。”“这很好，这是他们目前为数不多的优势之一。”</blockquote></p><p> The airlines received substantial financial help from the federal government, but most of that money was required to be spent keeping staff on payrolls temporarily.</p><p><blockquote>航空公司从联邦政府获得了大量的财政帮助，但大部分资金被要求用于暂时留住员工。</blockquote></p><p> The lion's shareof the borrowing and cash, then, comes from from banks and Wall Street. Like a struggling family flooded with credit card offers, the airlines have a lot of people eager to give them cash.</p><p><blockquote>因此，大部分借款和现金来自银行和华尔街。就像一个陷入困境的家庭被信用卡优惠淹没一样，航空公司有很多人渴望给他们现金。</blockquote></p><p> The airlines have sold bonds, borrowed money<b>,</b>mortgaged their planes,frequent flyer programsand other assets, and evensold additional shares of stock, a highly unusual move for an industry in this position.</p><p><blockquote>航空公司出售债券，借钱<b>,</b>抵押了他们的飞机、常旅客计划和其他资产，甚至出售了额外的股票，这对于处于这种地位的行业来说是非常不寻常的举动。</blockquote></p><p> The borrowing has added about $40 billion in long-term debt to the balance sheets of the nation's airlines.</p><p><blockquote>此次借款使美国航空公司的资产负债表增加了约400亿美元的长期债务。</blockquote></p><p> \"I think the general feeling is they're wounded but they're going to make it,\" said Baggaley. The low interest rate environment has helped the airlines, as investors and banks looking for yields have been willing to lend to the airlines, he added. All the carriers except Southwest have junk bond credit ratings.</p><p><blockquote>“我认为普遍的感觉是他们受伤了，但他们会挺过来的，”巴格利说。他补充说，低利率环境帮助了航空公司，因为寻求收益的投资者和银行愿意向航空公司提供贷款。除西南航空外，所有航空公司都拥有垃圾债券信用评级。</blockquote></p><p> They have also made deep cost cuts, even with government help that prevented them from making permanent, involuntary job cuts.</p><p><blockquote>他们还大幅削减了成本，即使政府帮助阻止了他们进行永久性的、非自愿的裁员。</blockquote></p><p> The airlines used buyouts and early retirement to cut about 16% of the staff they had at the start of 2021. In recent weeks, American and United sent out layoff notices to 27,000 employees between them, saying they could again be furloughed unless there is a third round of government assistance before April 1.</p><p><blockquote>2021年初，航空公司利用买断和提前退休的方式裁员约16%。最近几周，美国航空和联合航空向27,000名员工发出了裁员通知，称除非4月1日之前政府提供第三轮援助，否则他们可能会再次休假。</blockquote></p><p> Many of those employees had been laid off in Octoberwhen the first round of federal payroll support ran out, and were called back to work in December when thesecond Covid relief package provided an additional $17 billion to the industry. Last week, airline unions were back on Capitol Hill appealing for another round of help to keep their members employed.</p><p><blockquote>其中许多员工在10月份第一轮联邦工资支持用完时被解雇，并在12月份第二轮新冠救助计划为该行业额外提供了170亿美元时被召回工作。上周，航空公司工会回到国会山，呼吁提供新一轮帮助，以保持其成员的就业。</blockquote></p><p> The cost cuts slashed the rate at which the airlines burned through cash by about half between the second quarter to the fourth quarter last year, even as air travel and revenuesremained a fraction of what they were before the pandemic.</p><p><blockquote>去年第二季度至第四季度期间，成本削减将航空公司的现金消耗率削减了约一半，尽管航空旅行和收入仍仅为疫情爆发前的一小部分。</blockquote></p><p> But even as they trimmed the pace of cash burn, the four airlines combined blew through $115 million a day over the course of the final nine months of 2020. And they expect to continue burning through cash, albeit at a slower pace, in the first half of 2021. Building a substantial cash reserve is the only sure way to get through this unprecedented financial crisis, airline executives say.</p><p><blockquote>但即使他们降低了现金消耗的速度，这四家航空公司在2020年最后9个月内每天的支出总计达到1.15亿美元。他们预计2021年上半年将继续烧钱，尽管速度较慢。航空公司高管表示，建立大量现金储备是度过这场前所未有的金融危机的唯一可靠方法。</blockquote></p><p> \"Our industry still has a long path to recovery ahead,\" said American CEO Doug Parker on recent conference call with investors. He said the accumulation of cash, combined with cost cutting, built up \"gives us confidence that we are well positioned for the year ahead and the long term.\"</p><p><blockquote>“我们的行业还有很长的复苏之路，”美国首席执行官道格·帕克在最近与投资者的电话会议上表示。他表示，现金的积累，加上成本的削减，“让我们有信心为未来一年和长期做好准备。”</blockquote></p><p> Other than Southwest, which just posted its first annual losssince 1973, the nation's other major airlines all have at least one bankruptcy in their histories. The industry's current strong cash position raises hopes that they can avoid that fate this time. But that depends on when traffic returns, and even the airlines aren't sure when that will be.</p><p><blockquote>除了刚刚公布自1973年以来首次年度亏损的西南航空公司外，美国其他主要航空公司历史上都至少经历过一次破产。该行业目前强劲的现金状况让人们希望他们这次能够避免这种命运。但这取决于交通何时恢复，甚至航空公司也不确定何时恢复。</blockquote></p><p> \"I've got 10 straight months of data saying that people are ready to travel in six months. It keeps saying the same thing,\" American's Parker said in an interview on CNBC recently. \"What I do believe is that once people are comfortable, it will come back relatively quickly. There is huge pent-up demand to travel. We hear it everywhere we go. But no one is going to travel until there are things to do when you travel, and until the vaccine is distributed and the pandemic is largely eradicated.\"</p><p><blockquote>美国航空公司的帕克最近在接受CNBC采访时表示：“我已经连续10个月的数据表明，人们准备在六个月内旅行。它一直在说同样的话。”“我确实相信的是，一旦人们感到舒适，它就会相对较快地回来。人们对旅行有巨大的被压抑的需求。我们所到之处都能听到这种需求。但没有人会去旅行，直到你旅行时有事情可做，直到疫苗分发完毕，大流行基本被根除。”</blockquote></p><p> S&P's Baggaley believes airlines \"are past the worst of it,\" he said. None of them have filed for bankruptcy, and he believes the odds are that they won't.</p><p><blockquote>标准普尔的巴格利认为航空公司“已经度过了最糟糕的时期”，他说。他们都没有申请破产，他相信他们很可能不会。</blockquote></p><p></p><p> But he cautions that unlike the string of retail bankruptcies early last year that took place weeks or months into the crisis, airline bankruptcies historically can occur years after a financial crisis. Delta and Northwestdidn't file until 2005, years after 9/11. Americandidn't file until 2011, well after the Great Recession.</p><p><blockquote>但他警告说，与去年初危机发生数周或数月后发生的一系列零售业破产不同，航空公司破产历史上可能发生在金融危机发生数年后。达美航空和西北航空直到2005年才提交申请，也就是9/11几年后。美国直到2011年才提交申请，那是在大衰退之后很久。</blockquote></p><p> \"It's a reasonable concern that they are going to emerge from this with a lot more debt,\" he said.</p><p><blockquote>他说：“人们有理由担心他们将背负更多债务。”</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Despite huge losses, US airlines are rolling in cash<blockquote>尽管亏损巨大，美国航空公司仍在不断增加现金</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDespite huge losses, US airlines are rolling in cash<blockquote>尽管亏损巨大，美国航空公司仍在不断增加现金</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">CNN Business</strong><span class=\"h-time small\">2021-02-08 15:16</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>New York (CNN Business)</b> The US airline industry just closed the books on theworst year in its history, losing a combined $32 billion excluding special items. Yet it still ended 2020 awash in an ocean of cash.</p><p><blockquote><b>纽约（CNN商业）</b>美国航空业刚刚结束了其历史上最糟糕的一年，不包括特殊项目，总共损失了320亿美元。然而，2020年结束时，它仍然充斥着大量现金。</blockquote></p><p> The nation's four largest airlines --American(AAL),Delta(DAL),United(UAL)andSouthwest(LUV)-- among themhad $31.5 billion in cash on their balance sheets at the end of 2020. That's up from $13 billion a year earlier, before the pandemic hit. \"Liquidity\" has become a favorite buzzword of airline executives discussing their financial condition. Including the cash and yet untapped credit lines, the airlines have access tonearly $65 billion.</p><p><blockquote>截至2020年底，美国四大航空公司——美国航空(AAL)、达美航空(DAL)、联合航空(UAL)和西南航空(LUV)——资产负债表上的现金为315亿美元。这高于一年前大流行爆发前的130亿美元。“流动性”已成为航空公司高管讨论其财务状况时最喜欢使用的流行语。包括现金和尚未开发的信贷额度在内，航空公司最多可以获得650亿美元。</blockquote></p><p> \"The liquidity is at record levels,\" said Philip Baggaley, chief credit analyst for the airline industry at Standard & Poor's. \"That's good, and it's one of the few strong points they have at this point.\"</p><p><blockquote>标准普尔航空业首席信贷分析师菲利普·巴格利表示：“流动性处于创纪录水平。”“这很好，这是他们目前为数不多的优势之一。”</blockquote></p><p> The airlines received substantial financial help from the federal government, but most of that money was required to be spent keeping staff on payrolls temporarily.</p><p><blockquote>航空公司从联邦政府获得了大量的财政帮助，但大部分资金被要求用于暂时留住员工。</blockquote></p><p> The lion's shareof the borrowing and cash, then, comes from from banks and Wall Street. Like a struggling family flooded with credit card offers, the airlines have a lot of people eager to give them cash.</p><p><blockquote>因此，大部分借款和现金来自银行和华尔街。就像一个陷入困境的家庭被信用卡优惠淹没一样，航空公司有很多人渴望给他们现金。</blockquote></p><p> The airlines have sold bonds, borrowed money<b>,</b>mortgaged their planes,frequent flyer programsand other assets, and evensold additional shares of stock, a highly unusual move for an industry in this position.</p><p><blockquote>航空公司出售债券，借钱<b>,</b>抵押了他们的飞机、常旅客计划和其他资产，甚至出售了额外的股票，这对于处于这种地位的行业来说是非常不寻常的举动。</blockquote></p><p> The borrowing has added about $40 billion in long-term debt to the balance sheets of the nation's airlines.</p><p><blockquote>此次借款使美国航空公司的资产负债表增加了约400亿美元的长期债务。</blockquote></p><p> \"I think the general feeling is they're wounded but they're going to make it,\" said Baggaley. The low interest rate environment has helped the airlines, as investors and banks looking for yields have been willing to lend to the airlines, he added. All the carriers except Southwest have junk bond credit ratings.</p><p><blockquote>“我认为普遍的感觉是他们受伤了，但他们会挺过来的，”巴格利说。他补充说，低利率环境帮助了航空公司，因为寻求收益的投资者和银行愿意向航空公司提供贷款。除西南航空外，所有航空公司都拥有垃圾债券信用评级。</blockquote></p><p> They have also made deep cost cuts, even with government help that prevented them from making permanent, involuntary job cuts.</p><p><blockquote>他们还大幅削减了成本，即使政府帮助阻止了他们进行永久性的、非自愿的裁员。</blockquote></p><p> The airlines used buyouts and early retirement to cut about 16% of the staff they had at the start of 2021. In recent weeks, American and United sent out layoff notices to 27,000 employees between them, saying they could again be furloughed unless there is a third round of government assistance before April 1.</p><p><blockquote>2021年初，航空公司利用买断和提前退休的方式裁员约16%。最近几周，美国航空和联合航空向27,000名员工发出了裁员通知，称除非4月1日之前政府提供第三轮援助，否则他们可能会再次休假。</blockquote></p><p> Many of those employees had been laid off in Octoberwhen the first round of federal payroll support ran out, and were called back to work in December when thesecond Covid relief package provided an additional $17 billion to the industry. Last week, airline unions were back on Capitol Hill appealing for another round of help to keep their members employed.</p><p><blockquote>其中许多员工在10月份第一轮联邦工资支持用完时被解雇，并在12月份第二轮新冠救助计划为该行业额外提供了170亿美元时被召回工作。上周，航空公司工会回到国会山，呼吁提供新一轮帮助，以保持其成员的就业。</blockquote></p><p> The cost cuts slashed the rate at which the airlines burned through cash by about half between the second quarter to the fourth quarter last year, even as air travel and revenuesremained a fraction of what they were before the pandemic.</p><p><blockquote>去年第二季度至第四季度期间，成本削减将航空公司的现金消耗率削减了约一半，尽管航空旅行和收入仍仅为疫情爆发前的一小部分。</blockquote></p><p> But even as they trimmed the pace of cash burn, the four airlines combined blew through $115 million a day over the course of the final nine months of 2020. And they expect to continue burning through cash, albeit at a slower pace, in the first half of 2021. Building a substantial cash reserve is the only sure way to get through this unprecedented financial crisis, airline executives say.</p><p><blockquote>但即使他们降低了现金消耗的速度，这四家航空公司在2020年最后9个月内每天的支出总计达到1.15亿美元。他们预计2021年上半年将继续烧钱，尽管速度较慢。航空公司高管表示，建立大量现金储备是度过这场前所未有的金融危机的唯一可靠方法。</blockquote></p><p> \"Our industry still has a long path to recovery ahead,\" said American CEO Doug Parker on recent conference call with investors. He said the accumulation of cash, combined with cost cutting, built up \"gives us confidence that we are well positioned for the year ahead and the long term.\"</p><p><blockquote>“我们的行业还有很长的复苏之路，”美国首席执行官道格·帕克在最近与投资者的电话会议上表示。他表示，现金的积累，加上成本的削减，“让我们有信心为未来一年和长期做好准备。”</blockquote></p><p> Other than Southwest, which just posted its first annual losssince 1973, the nation's other major airlines all have at least one bankruptcy in their histories. The industry's current strong cash position raises hopes that they can avoid that fate this time. But that depends on when traffic returns, and even the airlines aren't sure when that will be.</p><p><blockquote>除了刚刚公布自1973年以来首次年度亏损的西南航空公司外，美国其他主要航空公司历史上都至少经历过一次破产。该行业目前强劲的现金状况让人们希望他们这次能够避免这种命运。但这取决于交通何时恢复，甚至航空公司也不确定何时恢复。</blockquote></p><p> \"I've got 10 straight months of data saying that people are ready to travel in six months. It keeps saying the same thing,\" American's Parker said in an interview on CNBC recently. \"What I do believe is that once people are comfortable, it will come back relatively quickly. There is huge pent-up demand to travel. We hear it everywhere we go. But no one is going to travel until there are things to do when you travel, and until the vaccine is distributed and the pandemic is largely eradicated.\"</p><p><blockquote>美国航空公司的帕克最近在接受CNBC采访时表示：“我已经连续10个月的数据表明，人们准备在六个月内旅行。它一直在说同样的话。”“我确实相信的是，一旦人们感到舒适，它就会相对较快地回来。人们对旅行有巨大的被压抑的需求。我们所到之处都能听到这种需求。但没有人会去旅行，直到你旅行时有事情可做，直到疫苗分发完毕，大流行基本被根除。”</blockquote></p><p> S&P's Baggaley believes airlines \"are past the worst of it,\" he said. None of them have filed for bankruptcy, and he believes the odds are that they won't.</p><p><blockquote>标准普尔的巴格利认为航空公司“已经度过了最糟糕的时期”，他说。他们都没有申请破产，他相信他们很可能不会。</blockquote></p><p></p><p> But he cautions that unlike the string of retail bankruptcies early last year that took place weeks or months into the crisis, airline bankruptcies historically can occur years after a financial crisis. Delta and Northwestdidn't file until 2005, years after 9/11. Americandidn't file until 2011, well after the Great Recession.</p><p><blockquote>但他警告说，与去年初危机发生数周或数月后发生的一系列零售业破产不同，航空公司破产历史上可能发生在金融危机发生数年后。达美航空和西北航空直到2005年才提交申请，也就是9/11几年后。美国直到2011年才提交申请，那是在大衰退之后很久。</blockquote></p><p> \"It's a reasonable concern that they are going to emerge from this with a lot more debt,\" he said.</p><p><blockquote>他说：“人们有理由担心他们将背负更多债务。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://edition.cnn.com/2021/02/07/business/airlines-cash/index.html\">CNN Business</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LUV":"西南航空","UAL":"联合大陆航空","DAL":"达美航空","AAL":"美国航空"},"source_url":"https://edition.cnn.com/2021/02/07/business/airlines-cash/index.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1142252368","content_text":"New York (CNN Business) The US airline industry just closed the books on theworst year in its history, losing a combined $32 billion excluding special items. Yet it still ended 2020 awash in an ocean of cash.\nThe nation's four largest airlines --American(AAL),Delta(DAL),United(UAL)andSouthwest(LUV)-- among themhad $31.5 billion in cash on their balance sheets at the end of 2020. That's up from $13 billion a year earlier, before the pandemic hit. \"Liquidity\" has become a favorite buzzword of airline executives discussing their financial condition. Including the cash and yet untapped credit lines, the airlines have access tonearly $65 billion.\n\"The liquidity is at record levels,\" said Philip Baggaley, chief credit analyst for the airline industry at Standard & Poor's. \"That's good, and it's one of the few strong points they have at this point.\"\nThe airlines received substantial financial help from the federal government, but most of that money was required to be spent keeping staff on payrolls temporarily.\nThe lion's shareof the borrowing and cash, then, comes from from banks and Wall Street. Like a struggling family flooded with credit card offers, the airlines have a lot of people eager to give them cash.\nThe airlines have sold bonds, borrowed money,mortgaged their planes,frequent flyer programsand other assets, and evensold additional shares of stock, a highly unusual move for an industry in this position.\nThe borrowing has added about $40 billion in long-term debt to the balance sheets of the nation's airlines.\n\"I think the general feeling is they're wounded but they're going to make it,\" said Baggaley. The low interest rate environment has helped the airlines, as investors and banks looking for yields have been willing to lend to the airlines, he added. All the carriers except Southwest have junk bond credit ratings.\nThey have also made deep cost cuts, even with government help that prevented them from making permanent, involuntary job cuts.\nThe airlines used buyouts and early retirement to cut about 16% of the staff they had at the start of 2021. In recent weeks, American and United sent out layoff notices to 27,000 employees between them, saying they could again be furloughed unless there is a third round of government assistance before April 1.\nMany of those employees had been laid off in Octoberwhen the first round of federal payroll support ran out, and were called back to work in December when thesecond Covid relief package provided an additional $17 billion to the industry. Last week, airline unions were back on Capitol Hill appealing for another round of help to keep their members employed.\nThe cost cuts slashed the rate at which the airlines burned through cash by about half between the second quarter to the fourth quarter last year, even as air travel and revenuesremained a fraction of what they were before the pandemic.\nBut even as they trimmed the pace of cash burn, the four airlines combined blew through $115 million a day over the course of the final nine months of 2020. And they expect to continue burning through cash, albeit at a slower pace, in the first half of 2021. Building a substantial cash reserve is the only sure way to get through this unprecedented financial crisis, airline executives say.\n\"Our industry still has a long path to recovery ahead,\" said American CEO Doug Parker on recent conference call with investors. He said the accumulation of cash, combined with cost cutting, built up \"gives us confidence that we are well positioned for the year ahead and the long term.\"\nOther than Southwest, which just posted its first annual losssince 1973, the nation's other major airlines all have at least one bankruptcy in their histories. The industry's current strong cash position raises hopes that they can avoid that fate this time. But that depends on when traffic returns, and even the airlines aren't sure when that will be.\n\"I've got 10 straight months of data saying that people are ready to travel in six months. It keeps saying the same thing,\" American's Parker said in an interview on CNBC recently. \"What I do believe is that once people are comfortable, it will come back relatively quickly. There is huge pent-up demand to travel. We hear it everywhere we go. But no one is going to travel until there are things to do when you travel, and until the vaccine is distributed and the pandemic is largely eradicated.\"\nS&P's Baggaley believes airlines \"are past the worst of it,\" he said. None of them have filed for bankruptcy, and he believes the odds are that they won't.\nBut he cautions that unlike the string of retail bankruptcies early last year that took place weeks or months into the crisis, airline bankruptcies historically can occur years after a financial crisis. Delta and Northwestdidn't file until 2005, years after 9/11. Americandidn't file until 2011, well after the Great Recession.\n\"It's a reasonable concern that they are going to emerge from this with a lot more debt,\" he said.","news_type":1,"symbols_score_info":{"AAL":0.9,"UAL":0.9,"LUV":0.9,"DAL":0.9}},"isVote":1,"tweetType":1,"viewCount":1724,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":389658531,"gmtCreate":1612770957123,"gmtModify":1703764767862,"author":{"id":"3561251654144641","authorId":"3561251654144641","name":"MayWaitJune","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3561251654144641","idStr":"3561251654144641"},"themes":[],"htmlText":"Watch out","listText":"Watch out","text":"Watch out","images":[{"img":"https://static.tigerbbs.com/56cf2e5dd779b73d306abd79b1674563","width":"720","height":"1327"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/389658531","isVote":1,"tweetType":1,"viewCount":2397,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0}],"lives":[]}
