American Airlines Posts $931 Million Quarterly Loss [The New York Times]
Southwest Airlines Company (LUV)
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Source: The New York Times
American Airlines lost $931 million in the final three months of last year, as the Omicron variant of the coronavirus has pushed back the industry’s rebound.After a year of recovery punctuated by setbacks, airlines are now focused on returning to profitability in . Industry executives are hoping for a robust spring and summer driven by rebounds in corporate and international travel.“Over the past year, we have experienced periods of high travel demand countered by periods of decreased demand due to new Covid-19 variants,” American’s chief executive, Doug Parker,said in a statementOmicron forced airline workers to call in sick at record rates over the holidays, compounding problems caused by winter storms and contributing to tens of thousands of cancellations during one of the year’s busiest travel periods. But American notably performed better over that period than its peers.Over the two weeks starting on Dec. 25, American canceled just under 1,500 flights, compared with more than 4,3
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