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Non-Tech : Airline Discussion Board

JETS 24.93

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Nov 11 4:00 PM EST

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From: Moonray	11/12/2020 1:23:25 PM
	1 Recommendation Recommended By Sam of 1868

Southwest says the booking rebound is losing steam Leslie Josephs Southwest Airlines warns that a rebound in revenue is losing momentum for November and December, a potentially worrying sign as airlines seek to cash in on the holiday season in an otherwise dismal 2020. “While the Company expected the election to impact trends, it is unclear whether the softness in booking trends is also a direct result of the recent rise in COVID-19 cases,” Southwest says in a filing. “As such, the Company remains cautious in this uncertain revenue environment.” Southwest says it expects fourth-quarter capacity to be down 40% from a year ago and expects revenue to be down 60% to 65% in November and December from 2019. It’s planning January capacity that would be down 35% to 40% from last year. Last-minute leisure demand, however, has helped it trim its cash burn to about $10 million a day in October, down from a previous estimate of $12 million a day. It expects daily cash burn of $10 million to $11 million in the fourth quarter. o~~~ O

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