Southwest Airlines (NYSE: LUV) says new bookings now outpacing cancellations

Ground operations employees load baggage onto a Southwest Airlines Boeing 737 aircraft on the tarmac at John Wayne Airport (SNA) in Santa Ana, California.
  • CNBC reported Tuesday that new bookings are outpacing cancellations, a turning point in the pandemic that has devastated air travel demand.
  • Southwest says demand starting to return after plunging because of the pandemic.
  • The low-cost airline says new bookings are now outpacing cancellations.
  • The coronavirus has devastated air travel demand, pushing the number of travelers down 95% in the U.S. last month.
  • The uptick is showing up at airports, too, but demand is still far off last year’s levels for this time of year, when demand generally rises.
  • It is also planning to more than halve its capital spending expenditures to around $2 billion next year. United’s shares fell less than 1%.

Source: CNBC

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