American Airlines and Southwest Airlines said Thursday that they expect to be solidly profitable in the second quarter. They joined Delta Air Lines and United Airlines in giving an upbeat outlook for the April-through-June period, which includes the start of the peak travel season.
Southwest CEO Robert Jordan said that despite losing $159 million in the first quarter — the airline blamed fallout from its December meltdown, which hurt bookings early this year — his airline made money in March as revenue picked up.
“While we are mindful of the uncertain economic environment, demand for domestic air travel remains strong, thus far,” Jordan said.
American eked out a $10 million profit for the first quarter as revenue jumped 37% from a year earlier. The airline predicted second-quarter earnings per share that would easily beat Wall Street expectations.
American said its domestic and relatively short international flights are bringing in more revenue, and demand for longer international trips is also showing “noticeable strength.”
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