2024-04-29 07:00:00 ET
Summary
- Southwest Airlines joined a number of U.S. airlines in reporting a first quarter 2024 loss with concern around labor and maintenance expenses.
- Southwest's loyalty to Boeing has been extraordinarily costly, with 2024 MAX deliveries expected to be a fraction of contractual levels.
- Southwest is implementing long-planned strategies and considering operational and customer service changes to grow its profits.
The past week was yet another difficult one for Southwest Airlines ( LUV ). Southwest reported on Thursday, April 25, after Delta ( DAL ) which reported a small net profit and United Airlines ( UAL ) which reported a small loss which it said would not have occurred were it not for the grounding of the Boeing ( BA ) 737 MAX 9, of which UAL is the largest operator. LUV reported an operating loss of $393 million, a net loss of $231 million or 39 cents/share, and a net loss excluding special items of $218 million. The stock shed 7% on the day it released its first quarter financials....
Read the full article on Seeking Alpha
For further details see:
Southwest Airlines Is Set To Soar Again