- Airlines next on runway in earnings season, with United Thursday
- Most hopes for industry improvement rest on vaccine or treatment
- Disney grabs spotlight with recent layoffs, reorganization
Been on a plane lately?
If, like many of us, the answer is no, you’re probably part of the reason the airline and travel industry’s Q3 earnings prospects remain grounded.
Actually, “grounded” isn’t the best word for the results analysts expect from airlines. An expression that comes to mind, unfortunately, is “nose dive.”
Airline earnings are expected to plunge an incredible 313% year-over-year in Q3, according to research firm FactSet. That’s about the worst earnings projection for any industry sub-sector, dwarfing even projected losses in the lackluster Energy complex.
Travel isn’t all about the airlines, of course. Digging deeper into sub-sector performance, analysts see the Hotels, Restaurants, and Leisure sub-sector falling off a cliff, with earnings down