RAYTHEON CUTS 15,000 JOBS. Citing “all the uncertainty in the recovery of commercial air traffic,” Greg Hayes, Raytheon CEO, revealed the company would more than double the number of layoffs from its corporate and commercial aerospace divisions that it had announced previously.
The company sees air travel gradually recovering, finally returning to pre-pandemic levels in 2023, Hayes said.
CARNIVAL SELLS FOUR MORE SHIPS. As part of its plan to shed 18 ships – more than originally planned – Carnival Cruise Lines has sold its “Fascination” and “Imagination” boats.
The company also canceled sailings on the “Spirit” from Brisbane until next 12 June and scrapped cruises on the “Valor” from New Orleans until 29 April. The “Paradise” will not sail again from Tampa until 19 March, and “Magic” trips from Miami will not resume until some time after 13 March 2021.
The company anticipates a third-quarter loss of $2.86 billion.
SOUTHWEST AIRLINES PARES BACK SCHEDULE. Anticipating November bookings to be 35 to 40 percent of capacity, the carrier will cut its schedule during the month. It predicted overall third-quarter bookings to be 30 to 40 percent of capacity.
Southwest’s August revenue was 70 percent below the previous August’s, which the company had predicted. It has forecast revenues dropping 65 to 70 percent year-on-year this month and 65 to 75 percent in October.

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