[Ay-Pee] American Airlines and Southwest Airlines both posted second-quarter profits on Thursday thanks to generous federal pandemic relief that covers most of their labor costs.Certainly, all Rantburgers are thrilled to have their Grandchildren paying for this year's airline profits.
The reports on Thursday underscored the progress that airlines are making in rebuilding after the coronavirus crushed air travel ‐ and how much farther they must go to fully recover.
American eked out a second-quarter profit of $19 million due to nearly $1.5 billion in taxpayer support. Southwest reported a profit of $348 million, including $724 million in federal help.
Southwest made fifty cent on the federal dollar; American, not so good.
Southwest said it made money in June even without the government aid and hopes to be profitable by any measure in the third and fourth quarters if the pandemic doesn't get worse.
Hat tip to Mrs. Bobby's Dallas Morning News, who won't let me read it online without signing up.