Southwest reports “modest: increase in August demand  

Southwest is seeing a modest improvement in August leisure passenger demand, however in a SEC filing the today the carrier warned that year-on-year revenue falls remain significant, and passenger demand and booking trends remain inconsistent leading the firm to cut capacity over the next three months. Southwest’s preliminary July 2020 operating revenues decreased, year-over-year, in the range of 70 to 75%; capacity decreased approximately 31%, year-on-year; and load factor was approximately 43%; all in line with the carrier’s previous estimations. Based on modest improvements in leisure passenger demand, the Southwest now estimates August 2020 operating revenues to decrease, year-over-year, in