Southwest Airlines is posting its first quarterly loss in almost a decade.
The former New Jersey governor and ABC News contributor discusses his Washington Post op-ed highlighting five key actions needed to reopen the country.DALLAS -- Southwest Airlines posted its first quarterly loss in nearly a decade and said Tuesday that the downturn in air travel that began in late February shows no signs of letting up.
“This is an unprecedented time for our nation and the airline industry,” Chairman and CEO Gary Kelly said in a written statement. “The U.S. economy has been at a standstill, and the current outlook for second quarter 2020 indicates no material improvement in air travel trends.” The company has borrowed $6.8 billion this year, including the federal loan it has already received. Southwest said it plans to apply for a second round of federal help, a secured loan of $2.8 billion, and is shopping for money from other sources.
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