Southwest, American Airlines Cut Costs To Ride Out Pandemic

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(Dallas, TX) — Southwest and American Airlines are losing millions a day during the recent travel downturn, and both are looking for ways to cut costs.

Dallas-based Southwest Airlines reported a record loss of $915-million last quarter. Fort Worth-based American Airlines said it lost more than $2-billion, not counting the money it got from the federal government. Both airlines are furloughing or laying off tens-of-thousands of employees.

The two carriers flew more than 15-million passengers between April and June, down from 98-million for the same period last year.