Southwest Airlines trims flights again to manage staffing crunch

Earnings

In this article

A Southwest Airlines Co. Boeing 737 passenger jet arrives at Midway International Airport (MDW) in Chicago, Illinois, U.S., on Monday, Oct. 11, 2021.
Luke Sharrett | Bloomberg | Getty Images

Southwest Airlines on Thursday reported a third-quarter profit on Thursday thanks to a boost from federal payroll aid but said operational problems from understaffing for the aggressive growth it planned hurt its bottom line.

Dallas-based Southwest earlier this month canceled more than 2,000 flights between Oct. 8 and Oct. 13, blaming the issues on bad weather in Florida, air traffic control compounded by staffing shortages.

Southwest said the disruptions cost it $75 million from cancellations, customer refunds and “gestures of goodwill.”

Here’s how Southwest performed in the second quarter compared with what Wall Street expected, based on average estimates compiled by Refinitiv:

  • Adjusted results per share: a loss of 23 cents versus an expected loss of 27 cents.
  • Total revenue: $4.68 billion versus expected $4.58 billion.

This is breaking news. Check back for updates.

Articles You May Like

The Best Age To File For Social Security – Not Your Average Article
Meta put out an ambitious roadmap to Muse monetization after strong quarter and guide
Musk’s SpaceX stock gift is ‘tip of the iceberg’ for Trump Accounts, Altimeter’s Gerstner says
Comcast beats earnings expectations as media revenue offsets weakness in connectivity
Coca-Cola hikes earnings outlook, even as it sees lackluster demand in North America

Leave a Reply

Your email address will not be published. Required fields are marked *