Southwest Airlines , Posts Massive Loss , After Holiday Meltdown.
NBC reports that Southwest Airlines
has reported a $220 million loss for the
fourth quarter following a holiday meltdown. .
The holiday incident drove up expenses for the air carrier
and cost the company millions in revenue in what was
predicted to be the busiest travel season since 2020.
Earlier this month, Southwest announced
that it had canceled about 16,700 flights
between December 21 and 31. .
According to Southwest spokesman
Jay McVay, cancellations snowballed
as storms moved across the U.S.
So we’ve been chasing our tails,
trying to catch up and get back
to normal safely, which is our
No. 1 priority, as quickly as we could.
And that’s exactly how we
ended up where we are today, Scott Mayerowitz, executive editor of The Points Guy travel site, via NBC.
So we’ve been chasing our tails,
trying to catch up and get back
to normal safely, which is our
No. 1 priority, as quickly as we could.
And that’s exactly how we
ended up where we are today, Scott Mayerowitz, executive editor of The Points Guy travel site, via NBC.
When bad weather hits, and you have
staffing issues like they did, it creates
a situation that is near impossible to
recover from, and it couldn’t have
happened during a worse possible week, Scott Mayerowitz, executive editor of The Points Guy travel site, via NBC.
When bad weather hits, and you have
staffing issues like they did, it creates
a situation that is near impossible to
recover from, and it couldn’t have
happened during a worse possible week, Scott Mayerowitz, executive editor of The Points Guy travel site, via NBC.
The cancellations, which were caused
by severe winter weather across the U.S.,
hit Southwest's pretax results by $800 million. .
NBC reports that following
the release of the results, shares in Southwest
went down about 3% in premarket trading.
Based on estimates compiled by Refinitiv,
analysts anticipate per-share profits in
Southwest of 19 cents for the current quarter