Southwest Airlines sees modest improvements in leisure pax demand for 4Q2020

Southwest Airlines announced (22-Oct-2020) a 68.2% decline in operating revenues during 3Q2020, down to USD1.8 billion as a result of the continued negative impacts of the COVID-19 pandemic. Despite modest improvements in passenger demand and bookings in May/Jun-2020, the company experienced a stall in improving revenue trends in Jul-2020, and is again witnessing modest improvements in close in leisure passenger demand and bookings in Aug/Sep-2020. Such improvements have continued into Oct-2020 and Nov-2020, with operating revenue for Oct-2020 down 65% to 70% and down 60% to 65% for Nov-2020. Load factors for both Oct-2020 and Nov-2020 are in the range of 50% to 55%. [more - original PR]