Dallas-Fort Worth (WBAP/KLIF) – For the first time since the coronavirus pandemic took hold in the U.S., Southwest Airlines says new bookings are outpacing cancellations.
CEO Gary Kelly says the latest numbers are a good sign, but there is still a long road of financial recovery ahead.
The airlines says its seeing a “modest improvement” in demand and bookings for june but numbers are still significantly lower compared to a typical year.
Meantime, Fort Worth-based American Airlines is dangling its AAdvantage frequent-flyer program – which it values at $18 billion to $30 billion – as possible collateral for a federal loan. 
Chief Financial Officer Derek Kerr said Tuesday the airline hopes to line up a secured loan from the Treasury Department by the end of June. The $4.75 billion loan would be in addition to $5.8 billion in federal cash and loans that American took to help cover payroll costs through September. American said its planes were 15% full on average in April and 35% full so far in May.
(Copyright 2020 WBAP/KLIF 24/7 News. This report contains material from the Associated Press)
