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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Southwest Airlines Co | NYSE:LUV | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| -0.52 | -1.90% | 26.90 | 27.33 | 26.87 | 27.15 | 7,958,775 | 00:52:55 |
From May 2019 to May 2024
By Dave Sebastian
Southwest Airlines Co. posted a loss for the second quarter after improvements in passenger traffic stalled in July as some states saw a resurgence in Covid-19.
The largest U.S. domestic carrier recorded a net loss of $915 million, or $1.63 a share, compared with a profit of $741 million, or $1.37 a share, a year ago. Excluding special items, losses were $2.67 a share. Analysts polled by FactSet had expected an adjusted loss of $2.72 a share.
"We expect air travel demand to remain depressed until a vaccine or therapeutics are available to combat the infection and spread of Covid-19," Chairman and Chief Executive Gary Kelly said Thursday.
Sales plunged 83% to $1 billion for the quarter ended June 30, in line with what the company had expected. Analysts were looking for $930.3 million.
The company said it had $14.5 billion in cash and short-term investments as of June 30.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
July 23, 2020 07:03 ET (11:03 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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