Sumary of American, Southwest, Alaska Post Wind-Aided Profits — But Real Losses. Now Expecting Increased Business Travel:
- On that adjusted basis the company’s loss equaled 35 cents per share.
- Alaska, which is based in Seattle, said it earned a technical profit of $397 million in the second quarter, but a loss of $38 million, or $30 cents per share, after adjusting for $489 million in federal payroll support payments and other one-time accounting items.
- MORE FOR YOU A rapid recovery of demand for leisure travel in the second quarter drove all three carriers’ dramatic increases in revenue.
- That’s up from just $1.6 billion in the second quarter last year, when the pandemic’s impact on airlines and travel demand was at its worst.
- Executives at all three carriers said they expect leisure travel demand to continue at or above its current levels through the rest of the summer.
- After Labor Day, which traditionally marks the end of the summer vacation season, American officials said they expect to see demand for higher-priced business fares to rise.
- Southwest and Alaska officials said they too expect business travel demand – and revenues – to rise after the summer vacation season ends.
- But Southwest leaders did note that they will complete on July 26 its project to begin selling tickets through the SABRE reservations system and the positive impact that will have on its previously-stated plans to increase its domestic business travel market share.