Southwest Airline Says Revenue Rebound Loses Steam
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- Southwest said earlier in the week that the uptick in revenue from the past few months is beginning to slow down in recent weeks as COVID-19 cases begin to surge
- The airline company said its October revenue dropped 65%, compared to its projection of a 65% to 70% drop
- Southwest says it continues to expect a 60% to 65% drop in operating revenue, compared to the same period last year
- The company says that its January 2021 capacity may decrease by 35 to 40% compared to an estimated 40% fall in the current quarter
- After many months of business closures, airline revenues staged an upswing as lockdowns were eased in may parts of the world, but these gains are slowly being reversed as coronavirus cases continue to surge across the world