Southwest Earnings Glide Lower but so Does Its Cash-Burn Rate [TheStreet.com]
Southwest Airlines Company (LUV)
Last southwest airlines company earnings: 4/28 06:00 am
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Source: TheStreet.com
Southwest Glide Lower but so Does Its Cash-Burn RateAuthor:M. Corey manPublish date:Apr 28, 2020Video Duration:2:38Like its brethren, Southwest Airlines (LUVGet ReportThe Dallas-based airlineposted an adjusted lossSouthwest said it expects its crucial "cash-burn rate" - a closely watched figure that gives a snapshot into how much money an airline is spending to maintain operations without a profit - to be in the range of $30 million to $35 million in the second quarter of 2020, roughly half of the $60 million to $65 million it had expected.“The U.S. economy has been at a standstill, and the current outlook for second quarter 2020 indicates no material improvement in air travel trends,” CEO Gary Kelly said in a statement. “Trip cancellations remain at unprecedented levels, though they have receded from their peak in March. As such, we have significantly reduced our published flight schedules through July 2020.”The company said it had received $3.3 billion under the Payroll Support Pr
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- 10/28/25 - Form 424B5
- LUV's page on the SEC website