American and Southwest Airlines are facing more than $3 billion in losses as the coronavirus pandemic continues to take the wind out of air travel
for the period ended June 30, as passenger revenue — by far its largest revenue source — dropped by nearly 90% from a year ago to $1.1 billion.of about $1 billion for the quarter ended June 30, as passenger revenue fell to $704 million from $5.5 billion a year ago.
The airline industry has been among the hardest hit sectors not only by the initial government-imposed shutdowns meant to slow the spread of the deadly virus, but also by consumer reticence to fly even once those restrictions were lifted as the number of coronavirus cases in parts of the South and West soared.
To try to reassure both passengers and workers, American made wearing face coverings mandatory for passengers “throughout the customer journey” and for team members while at work, even as more than 41,000 workers opted for early retirement, a reduced work schedule or a partially paid leave. Southwest said it is limiting seats sold on each flight through at least October, to allow middle seats to remain open to allow for physical-distancing, while American and rival United are flying full flights, according toNearly 17,000 Southwest employees volunteered for emergency time off and separation programs, a move that is expected to help Southwest save more than $400 million in salaries, wages, and benefits costs in the fourth quarter..
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