both reported last week that they lost billions in the third quarter, as fewer people than expected dared to get onto airplanes in July, August and September. American and Southwest report their third-quarter results later this week, but are also expected to show billions in losses after many would be passengers canceled summer travel plans or drove to their destinations instead of flying.
Last year and into January and February of this year, airlines were setting passenger volume records. The TSA reported screening between 2.5 and 2.7 million people on the busiest travel days, which are usually Fridays and Sundays. But as the coronavirus outbreak spiked last March, companies halted business travel and millions canceled vacations and weekend getaways.
There were short-lived upticks in air travel demand in early summer, especially around the Memorial Day and Fourth of July holiday weekends. But the number of COVID-19 cases spiked after each holiday, especially in parts of the country that rushed to reopen bars, restaurants and other gathering places. Lingering concerns about spreading the viral illness dampened demand for air travel during the later summer months.
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