The CEO of Southwest Airlines Co. has stated that he believes the US airline industry is already experiencing a recession. Bob Jordan noted a significant drop in demand for domestic leisure travel, unlike anything he has seen outside of the pandemic. On Thursday, Jordan remarked that an economic contraction is currently underway within the US airline sector. The company anticipates a six percentage point decrease in second-quarter revenue, following a three-point decline in the first quarter.
— new from Bloomberg.com