Sep 16, 2020
Southwest Airlines trims cash burn, will keep middle seats open through November
This news has been received from: CNBC
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A bird flies by in the foreground as a Southwest Airlines jet comes in for a landing at McCarran International Airport on May 25, 2020 in Las Vegas, Nevada.Ethan Miller | Getty Images
Southwest Airlines on Wednesday said it has logged a "modest" improvement in bookings through October, helping it trim its daily cash burn estimate for this quarter by $3 million to an expected $17 million.
Despite the uptick in bookings, the Dallas-based airline expects revenue to drop 65% to 75% in October and capacity down 40% to 50% from the same month last year as the coronavirus pandemic continues to hurt travel demand. It forecast November capacity to drop 35% to 40% from 2019.
Southwest said it would extend a policy that leaves middle seats open on its flights, except for travelers in the same party, through the end of November, an effort to calm travelers nervous about flying in a pandemic and better compete at the start of the end-of-year holidays. Delta Air Lines, for example, last month said it would limit capacity on flights through Jan. 6.
Southwest shares were up 0.8% in premarket trading.Related Tags
- Coronavirus: Business
- Breaking News: Business
- Aerospace and defense industry
News Source: CNBC
Latest: Flash flood watch issued for Oregon burn areas
The Latest on wildfires in the U.S. West (all times local):
PORTLAND, Ore. — The National Weather Service issued a flash flood watch Thursday for areas in the foothills of the Cascade Mountains in Oregon, including parts of counties that were just devastated by major wildfires.
Clackamas County, south of Portland, and Jackson County in the southern part of the state, were among those listed as at-risk for floods from heavy rain and thunderstorms headed to the state. Both counties have significant burned areas from the fires.
Areas that have recently burned are at a higher-than-usual risk for flash flooding and mudslides because the trees and vegetation that normally absorb the water and hold the soil in place are gone.
Heavy rain can trigger landslides, rock fall, and debris flows in steep terrain.
SEQUOIA NATIONAL PARK, Calif. — California’s Sequoia National Park has been fully closed due to a nearby wildfire in the Sierra Nevada wilderness.
A statement on the park website says the action implemented earlier this week came after the park headquarters and the community of Three Rivers at the park’s southern entrance were put on evacuation notice.
Sequoia National Park is threatened by the Castle Fire, part of the SQF Complex of fires ignited by lightning in the Sierra National Forest.
Burning since Aug. 19, the complex has scorched nearly 192 square miles and is just 12% contained Thursday.
Kings Canyon National Park, immediately to the north of Sequoia, remains open.