He said his Berkshire Hathaway conglomerate had sold all its airline shares, including the 10 per cent of Southwest shares it had held. The celebrated investor Warren Buffett, ranked as the world's fourth richest man, said on Saturday that he had made a mistake by investing in the four biggest US airlines, including Southwest. READ: US aviation sector cuts more jobs amid travel meltdown The Trump administration is distributing US$25 billion in emergency assistance to airline companies, which employ some 750,000 workers in the United States. It looks the way it looks because there are many, many, many tiny droplets of water suspended in the air, which refract the light and make them look white (or gray, depending on conditions). What you think of as a cloud is basically just air.
The federal assistance is conditioned on companies preserving jobs until the end of September.īut the Southwest chief said that unless the recovery starts to kick in by July, the company might have to order a first round of layoffs. You can't sit on a cloud, because there's really nothing there. "We have until September to make that decision" on additional government aid. "I think we have what we need to see our way through," Kelly said. He said the government's relief plan had given the markets sufficient confidence that his company was able to raise an additional US$6 billion last week. Southwest has received US$3.2 billion in emergency assistance from the government and has applied for an additional loan, but Kelly said he was not sure it would be needed. "There are bookings in place, but those could easily be canceled," he said. He acknowledged, however, that things remain in flux.
we're looking forward to July and August." I don't think June will be a good month, but. "Each week after the first week of April has gotten successively better. "I think we've seen the bottom here," he said. Kelly said he believes the worst has passed for the industry.
"You look at the layered approach that we use, it's as safe as any environment you're going to find." "I don't think the risk on an airplane is any greater risk than anywhere else," Kelly said. He said his airline was taking a number of safety precautions: passengers and crew members will be required to wear masks planes will receive deep cleaning between flights and some seats will be left empty to allow a degree of social distancing. We're doing everything possible to encourage people to come back and fly." WASHINGTON: The CEO of Southwest Airlines, one of the largest US air companies, insisted Sunday that travelers could again fly in safety and added that air traffic, nearly paralysed by the coronavirus pandemic, was gradually reviving.Īsked on CBS whether it was again safe to fly, Gary Kelly replied, "It is.
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