SOUTHWEST, AMERICAN POST 2Q PROFITS AS AIR TRAVEL PICKS UP
Techlife News|Techlife News #508
American Airlines and Southwest Airlines both posted second-quarter profits on Thursday thanks to generous federal pandemic relief that covers most of their labor costs.

The reports on Thursday underscored the progress that airlines are making in rebuilding after the coronavirus crushed air travel — and how much farther they must go to fully recover.

American eked out a second-quarter profit of $19 million due to nearly $1.5 billion in taxpayer support. Southwest reported a profit of $348 million, including $724 million in federal help.

Southwest said it made money in June even without the government aid. CEO Gary Kelly said the recent quarter “marked an important milestone in the pandemic recovery as leisure travel demand surged.” He added that Southwest hopes to be profitable by any measure in the third and fourth quarters if the pandemic doesn’t get worse.

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