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Higher Costs

All articles tagged with #higher costs

business2 years ago

Norwegian Cruise Line's Profit Target Slashed on Rising Costs and Israel Conflict

Norwegian Cruise Line Holdings has lowered its 2023 profit target due to increased costs and booking disruptions caused by the Israel-Hamas conflict and the impact of wildfires in Maui. The company has redirected and canceled all trips to Israel and the surrounding region for the remainder of 2023, while its unit, Oceania Cruises, is making changes to its 2024 itineraries and canceling stops in Israel. The conflict and the slowdown in bookings to Hawaii have affected the company's fourth-quarter occupancy levels, leading to a downgrade in full-year occupancy expectations. Norwegian Cruise Line expects a fourth-quarter adjusted loss of 15 cents per share.

via Yahoo Finance|
#booking-disruptions#business#higher-costs
business2 years ago

Delta Air Lines Cuts Profit Forecast Amid Rising Costs

Delta Air Lines has joined other airlines in reducing its profit estimates due to rising costs. The company expects adjusted per-share earnings of $1.85 to $2.05, down from the previous forecast of $2.20 to $2.50, citing increased fuel and maintenance expenses. Delta also projects a 2% to 3% decline in unit revenue for the third quarter compared to last year. This comes as the airline industry faces higher expenses and lower travel demand. Other carriers, including American Airlines, Spirit Airlines, Frontier Airlines, Southwest Airlines, and Alaska Airlines, have also issued lowered profit outlooks. Delta shares rose over 2% in premarket trading.

via CNBC|
#airline-industry#business#delta-air-lines
business2 years ago

Airline Giants American Airlines and Spirit Slash Summer Profit Forecast Due to Rising Costs

American Airlines and Spirit Airlines have lowered their profit forecasts for the summer quarter due to increased costs, including higher fuel prices and new labor deals. American Airlines expects adjusted earnings per share to be between 20 cents and 30 cents, down from a previous forecast of up to 95 cents, while Spirit Airlines anticipates negative margins of up to 15.5%. The airlines' reduced profitability outlook reflects the loss of pricing power and lower fares compared to last summer, despite strong demand. Other carriers, including Southwest Airlines and Alaska Airlines, have also revised their third-quarter forecasts downward.

via CNBC|
#american-airlines#business#higher-costs