Southwest loss widens, airline warns Boeing airplane delays will hit growth into 2025 [CNBC]
Southwest Airlines Company (LUV)
Last southwest airlines company earnings: 4/28 06:00 am
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Source: CNBC
The airline expects to grow capacity 4% this year, down from a plan to expand 6%. For the second quarter, it forecast growth of 8% to 9% and said revenue would be down as much as 3.5%. The airline said in an quarterly filing that it now expects to receive only 20 Boeing 737 Max 8 planes, down from its previous forecast for 46 of them. It will also hold onto older planes longer and cut costs, including offering staff voluntary time-off, the company said. The Dallas-based carrier operates an all-Boeing 737 fleet and is acutely impacted by Boeing's aircraft delays stemming from its safety and quality crises. The carrier had previously warned that slower Boeing deliveries were hampering its growth. Southwest lost $231 million, or 39 cents a share, in the first three months of the year, compared with a loss of $159 million, or 27 cents a share, a year earlier when it was dealing with the aftermath of its holiday meltdown. Adjusting for one-time items, including costs related to
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Sec Filings
- 5/2/24 - Form 4
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- 4/26/24 - Form 10-Q
- LUV's page on the SEC website