Southwest Airlines posts smaller loss on strong travel demand

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A Southwest Airways jet sits at a gate at Orlando Worldwide Airport in Orlando, Florida, U.S., October 11, 2021 . REUTERS/Joe Skipper

Oct 21 (Reuters) – Southwest Airways Co posted a smaller third-quarter loss on Thursday as widespread vaccinations boosted journey demand forward of the height vacation season.

“Regardless of the deceleration of site visitors in August and September as a consequence of surging COVID-19 instances, the third quarter 2021 demand and income efficiency was fairly robust,” stated Chief Govt Officer Gary Kelly.

The corporate flagged lingering results from the summer season COVID-19 surge and up to date operational challenges to fourth-quarter income, however stated it was inspired by renewed momentum in leisure and enterprise site visitors.

Regardless of strong demand, a latest surge in gas costs has proved painful for the aviation trade with Delta Air warning of a fourth quarter pre-tax loss on greater gas bills and suggesting it might need to cross on greater prices to customers.

Excluding objects, the Dallas-based airline’s internet loss narrowed to $135 million, or 23 cents per share, within the quarter ended Sept. 30, from $1.17 billion, or $1.99 per share, a yr earlier.

Complete working income surged 161% to $4.68 billion from a yr earlier.

Reporting by Sanjana Shivdas in Bengaluru;
Modifying by Vinay Dwivedi


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