Southwest Airlines trims flights again to manage staffing crunch


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

Help Wanted: America’s childcare crisis fueled by worker shortages in daycare centers
Doing the ‘right thing’ with your money ‘doesn’t matter if you don’t do this first’: Behavioral finance pro
A majority of Americans don’t understand this retailer financing strategy — and it can cost them big bucks
Ask Larry: Will I Get Spousal Benefits When My Husband Takes His Social Security Retirement Benefit?
Reusable gift wrap, homemade gifts: Sustainability is on the wish list this holiday season

Leave a Reply

Your email address will not be published.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