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Southwest CEO says the U.S. airline industry is already in a recession

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Bob Jordan said his company expects second-quarter revenue to fall by six percentage points, following a three-point decline in the first three months.
Southwest Airlines CEO Bob Jordan expressed concerns about the airline industry's current state, stating that it is already in a recession due to a slow recovery from the impacts of the COVID-19 pandemic. In an interview with Fortune, Jordan highlighted the challenges faced by the industry, including high fuel costs, staffing shortages, and a significant drop in business travel demand. He emphasized that while leisure travel has shown signs of recovery, the overall industry is still struggling to return to pre-pandemic levels of operation and profitability. Jordan remains cautiously optimistic, focusing on strategies to manage costs and adapt to the changing market conditions.

Read the Full Fortune Article at:
[ https://fortune.com/article/southwest-airlines-ceo-bob-jordan-airline-industry-already-in-recession/ ]