Southwest reports bookings are improving
New York CNN Business — For the first time in weeks, Americans are booking more flights than they’re canceling, and US airlines are adding flights to their schedules. Southwest, the nation’s fourth largest airline behind American, Delta and United, said its final numbers for April show a revenue drop of 90% to 95%, and that it sold only 8% of its seats. Delta Delta also reported that its bookings have improved, with new ones outpacing passenger cancellations on “some days” so far in May, said CFO Paul Jacobson in an presentation to investors Tuesday. All of this is to raise the level of confidence.” United United also said customer cancellation rates fell, and it expects demand for both domestic flights and certain international destinations to improve for the remainder of the second quarter of 2020. Still, United warned that it “plans to continue to proactively evaluate and cancel flights on a rolling 60-day basis until it sees signs of a recovery in demand.” A slow return US airlines reported losses of more than $2 billion in the first three months of the year, and that occurred even though the industry didn’t see the fall off in traffic until early March.
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