Southwest Airlines (NYSE:LUV) has ordered 34 new 737 MAX 7 aircraft from manufacturer Boeing Co. (NYSE:BA)
The 34 additional aircraft increases the number of firm orders Southwest Airlines has for the MAX 7 aircraft to 234, all of which are due to be delivered by Boeing in 2022.
The mass rollout of COVID-19 vaccines and easing travel restrictions have bolstered hopes of a rebound in bookings for U.S. airlines after they suffered heavy losses in 2020.
Southwest Airlines has lowered its second-quarter average core cash burn forecast to between $1 million and $2 million per day, compared with the previous range of up to $3 million per day.
Cash burn, a measure that U.S. airlines began providing in 2020 to measure liquidity during the pandemic, was about $2 million per day in May.
Southwest Airlines said it continues to expect revenue to improve in June driven by higher leisure passenger traffic and fares.