Southwest Airlines Returns to Profitability as Air Travel Picks Up

By Paul Riegler on 22 July 2021
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A Southwest 737 at LaGuardia Airport in N.Y.

Southwest Airlines announced financial results for second quarter of 2021.

Revenue rose to $4.008 billion from $1.008 in the same period in 2020.

The Dallas-based carrier reported net income of $348 million after a loss of $915 million in the same period in 2020 in the height of the coronavirus pandemic.

The airline was able to report a profit thanks to a $724 million offset of salaries and other benefits funded by proceeds from the federal Payroll Support Program for airlines.

“Second quarter 2021 marked an important milestone in the pandemic recovery as leisure travel demand surged,” said the airline’s CEO,  Gary Kelly.

Meanwhile, the airline plans to bring back thousands of furloughed workers.

“To support the return of flight activity, we expect to recall the vast majority of our Employees early from voluntary time-off by the end of third quarter 2021,” Kelly said.

(Photo: Accura Media Group)

Accura News

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