This post was originally published on this site
https://i-invdn-com.akamaized.net/trkd-images/LYNXMPEH2E0RX_L.jpg
Southwest also forecast lower cash burn in the first quarter on Monday and said operating revenue for March and April was expected to improve as a rise in leisure bookings countered a lag in business travel.
The U.S. airline expects average core cash burn to be about $14 million per day in the first quarter, compared with its previous forecast of about $15 million.
“The company has continued to experience an improvement in leisure passenger bookings with beach and other nature-inspired destinations continuing to outperform other regions,” Southwest said in a statement.
Southwest had cash and short-term investments of about $14.4 billion as of March 11.
JetBlue also forecast a slowing pace in its first-quarter revenue drop, projecting a decline of between 61% and 64%, compared with the same period in 2019. It had previously forecast a 65% to 70% fall in revenue.
Southwest shares were up 1.2% at $61.73 in premarket trade, while those of JetBlue were up 3.7% at $21.20.
