American and Southwest Post Q2 Earnings Boosted by Passenger Rebound and Federal Aid
Video source: YouTube, CNBC Television By Tracy RucinskiAnkit Ajmera U.S. carriers American Airlines and Southwest Airlines on Thursday posted quarterly profits helped by a bookings rebound and federal aid and vowed to resolve hiccups across their operations as passengers return in droves. Airlines quickly scaled back flying when the coronavirus gripped the industry in early 2020. Now they are rushing to return airplanes and workers to the skies as demand returns quicker than they had expected. Both American and Southwest had to cancel summer flights due to labor shortages, bad weather and less network flexibility. Now they are recalling crews and resuming hiring. "It''s messy," Southwest Chief Executive Gary Kelly told investors and media. He said the company is "intensely focused" on improving its operations and flagged the time it will take to hire and train new workers as a key concern going forward. "We are in the midst of an unprecedented recovery," American Chief Executive Doug Parker said on an investor call where the company also outlined plans to pay down about $15 billion of debt by the end of 2025.
American and Southwest Post Q2 Earnings Boosted by Passenger Rebound and Federal Aid
Video source: YouTube, CNBC Television By Tracy RucinskiAnkit Ajmera U.S. carriers American Airlines and Southwest Airlines on Thursday posted quarterly profits helped by a bookings rebound and federal aid and vowed to resolve hiccups across their operations as passengers return in droves. Airlines quickly scaled back flying when the coronavirus gripped the industry in early 2020. Now they are rushing to return airplanes and workers to the skies as demand returns quicker than they had expected. Both American and Southwest had to cancel summer flights due to labor shortages, bad weather and less network flexibility. Now they are recalling crews and resuming hiring. "It''s messy," Southwest Chief Executive Gary Kelly told investors and media. He said the company is "intensely focused" on improving its operations and flagged the time it will take to hire and train new workers as a key concern going forward. "We are in the midst of an unprecedented recovery," American Chief Executive Doug Parker said on an investor call where the company also outlined plans to pay down about $15 billion of debt by the end of 2025.