On Thursday, American Airlines and Southwest Airlines, two of the leading American airlines based in Dallas, Texas, had quarterly earnings for the second quarter of April 30, in addition to state aid, the airlines had also raised their revenue forecast for the coming months, as reportedly increasing more people wanted to travel after being restricted for months.
Officials at American Airlines and Southwest Airlines, the world’s largest low-cost airline serving over 115 destinations, had forecast an improvement in revenue and said they would not yet see the effects of the recent surge in the Delta variants in the United States, largely the Reflecting remarks by executives of rival Delta Air Lines alongside United Airlines.
In addition to a recovery in air travel, U.S. airlines had received a whopping $ 54 billion to pay workers’ salaries by Aug. 31 this year, and also relied on debt to help address what may be the worst aviation industry crises in history deal with.
Top U.S. airlines are making gains as traffic returns to pre-pandemic levels
According to American Airlines’ quarterly earnings report, the world’s largest airline by fleet size saw revenue jump 361 percent to $ 7.48 billion year-over-year, while the airline reportedly carried 44 million passengers between April and June Quarter, five times what it had transported at the same time a year earlier.
Additionally, Southwest Airlines, which focuses on domestic travel, had reported a 300 percent increase in operating revenues to $ 4 billion year-over-year, but revenues for Dallas-based airlines were still below 32 percent compared to the same time in 2019.
Meanwhile, followed by the release of an upbeat quarterly earnings report, Southwest Airlines stock prices last traded 3.29 percent to $ 51.39 apiece in the late afternoon US trading hour, while American Airlines stock prices rose 1.57 percent at $ 21.06 each.
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