Southwest posts quarterly loss first time in 9 years; warns tough road ahead

Southwest posts quarterly loss first time in 9 years; warns tough road ahead

Southwest Airlines has posted a loss for the first time in more than nine years in Q1 which stood at $94mn owing to its grounding of 50% of its 742 jets because of Covid-19 pandemic. The Q2 is also expected to be worse as the pandemic impacted demand. However it has received a approval of $3.3bn as a part of the Payroll Support Program which is earmarked for employee compensation through Sep.

Milan
Milan
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