Texas-based airlines are reporting a record annual loss due to the pandemic. American Airlines today said revenue plummeted 64% to just over $4 billion in the fourth quarter compared to the year before. But that is better than the $3.8 billion forecast, and shares were up 30% in premarket trading. Southwest Airlines is also reporting a more than $3 billion loss, it's first since 1972. It forecast revenue will be down this month up to 70% compared to pre-pandemic numbers in 2019.
Photo: Getty Images