Pandemic pushes Southwest to first full-year loss since 1972

Earns Southwest
Posted at 3:33 PM, Jan 28, 2021

DALLAS (AP) — The pandemic is proving more damaging to Southwest Airlines than the terror attacks of 2001 or the financial crisis and recession of 2008.

Southwest said Thursday that it lost $3.1 billion last year, its first full-year loss since 1972. And 2021 is off to a weak start, too.

Southwest says bookings for early this year have stalled in the face of high numbers of newly reported cases of COVID-19.

The airline predicts revenue will fall at least 65% in January and February than the same months last year.

And it expects to lose between $10 million and $15 million a day during the first quarter of 2021.

Of course, Southwest isn't alone.

Major U.S. airlines reported losses due to the coronavirus pandemic.

On Thursday, American Airlines posted an annual loss of $9.6 billion, with revenue tumbling 62% to $17.3 billion.

Jetblue's annual loss declined 67% year last year due to the pandemic.

All told, United, Delta, Southwest, American, Jetblue, and Alaska Air lost $30.4 billion in 2020, CNN reported.