American Airlines, Southwest post record losses and signal need for more aid

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American Airlines Group Inc and Southwest Airlines Co posted their biggest-ever annual losses on Thursday and indicated a need for additional government aid as the industry continues to reel from the coronavirus pandemic. U.S. airlines expect demand to improve this year as vaccines become more widely distributed but have warned that the strength of any rebound will depend on the pace of vaccine rollouts and the easing of travel restrictions. JetBlue Airways, which also posted a quarterly loss on Thursday, said a recovery will be directly linked to a decline in COVID-19 case counts.

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