Southwest Airlines posts first operating loss in 11 years
New York CNN Business — Southwest Airlines reported its first quarterly operating loss since the depths of the Great Recession 11 years ago. “We entered this crisis prepared with the US airline industry’s strongest balance sheet and most successful business model,” said CEO Gary Kelly. And we intend to emerge with ample liquidity.” “It just doesn’t pay to not have enough cash in an environment like this,” Kelly said in an interview on CNBC. But we haven’t made that decision yet.” And Kelly said that Southwest won’t book every seat on a flight, even when demand returns, as a way to allow more social distancing on flights. If the company’s losses extend through 2020, it would be first annual loss since 1972 Southwest uses only Boeing 737 jets and has more of the troubled 737 Max jets than any other airline.
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