March 10, 2020 / 12:17 PM / 19 days ago

BRIEF-Southwest CEO To Cut His Pay By 10% As Coronavirus Chills Bookings - WSJ

March 10 (Reuters) -

* SOUTHWEST CEO TO CUT HIS PAY BY 10% AS CORONAVIRUS CHILLS BOOKINGS - WSJ

* SOUTHWEST CEO TOLD EMPLOYEES THAT VIRUS HAS CREATED A CHALLENGE MORE SERIOUS THAN ANY THE INDUSTRY HAS FACED SINCE 9/11, “AND IT MAY BE WORSE” - WSJ

* SOUTHWEST CEO KELLY SAID THAT FUEL PRICES COULD SAVE SOUTHWEST $1 BILLION OR MORE THIS YEAR IF PRICES STAY LOW - WSJ

* SOUTHWEST CEO KELLY SAID SOUTHWEST WILL TAKE OTHER STEPS TO REDUCE COSTS, SUCH AS FREEZING HIRING FOR NON-FRONTLINE WORKERS - WSJ

* SOUTHWEST CEO KELLY TOLD THERE IS NO QUESTION THIS IS A SEVERE RECESSION FOR THE INDUSTRY AND FOR US, AND “IT’S A FINANCIAL CRISIS” - WSJ

* SOUTHWEST CEO KELLY SAYS CAN’T PROMISE WE WON’T HAVE TO GROUND AIRPLANES AND FURLOUGH EMPLOYEES - WSJ

* SOUTHWEST CEO SAID THE VELOCITY AND THE SEVERITY OF THE DECLINE IN AIRLINES INDUSTRY IS "BREATHTAKING" - WSJ Source text: on.wsj.com/2wLtuvs Further company coverage:

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