Southwest Airlines CEO: 'We believe the worst is behind us'

Southwest Airlines CEO Gary Kelly reported (22-Apr-2021) the carrier benefitted from temporary cost relief as a result of PSP Extension proceeds in 1Q2021, resulting in net income of USD116 million. Mr Kelly stated: "We believe the worst is behind us, in terms of the severity of the negative impact on travel demand". He added: "As a result, we are experiencing steady weekly improvements in domestic leisure bookings", which began in mid Feb-2021. Mr Kelly said Mar-2021 operating revenues decreased 9.7% year-on-year and decreased 53.5% compared with Mar-2019, representing a "significant improvement from relatively stagnant revenue levels" experienced from Sep-2020 through Feb-2021. [more - original PR]