Southwest Airlines Co on Tuesday posted a $94 million quarterly net loss, its first in nine years, and warned of drastic revenue drops ahead as it sought to raise another $2.6 billion to help weather the coronavirus pandemic.
) on Tuesday posted a $94 million quarterly net loss, its first in nine years, and warned of drastic revenue drops ahead as it sought to raise another $2.6 billion to help weather the coronavirus pandemic.
The COVID-19 crisis has decimated travel demand, with unprecedented flight cancellations in the second half of March, forcing airlines to preserve and raise cash. “We have no idea what kind of cancellations will come through before those travel dates; there’s no way to be comfortable with what will happen to those reservations,” Southwest CEO Gary Kelly told Reuters.
Airlines including Southwest support pre-boarding temperature checks, face masks and social distancing measures on airplanes and in airports.
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