Southwest Is Back In The Black. American And Alaska Still In The Red. But They All Point To Rising T …

southwest is back in the black american and alaska still in the red but they all point to rising travel demand

Southwest Airlines today became the first airline in the world to report a quarterly profit since … [+] the Covid-19 pandemic first caused air travel demand to crater more than a year ago. AARON BAUER-GRIFFIN/Getty Images

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Southwest Airlines got by with a little help from its friends (in Congress) and scored its troubled industry’s first profitable quarter since the impacts of the Covid-19 pandemic were first experienced in February 2010.

Meanwhile, both American and Alaska airlines reported big first-quarter losses but, like other carriers, they say are seeing significantly improved travel demand conditions for this summer.

Southwest’s first-quarter earnings – $116 million, or 19 cents a share – were small by its normal standards. And they largely were the result of receiving $1.2 billion in federal Payroll Support Program dollars authorized by Congress to keep U.S. carriers afloat during the pandemic. Without that support, Southwest would have reported a $1 billion loss. Nevertheless, after posting four money-losing quarters and its first annual loss in 48 years due to the pandemic, Southwest did return to official net profitability ahead of all other carriers – both in the U…

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