Southwest forecasts lingering losses as bookings slow in wake of holiday meltdown
Publishing timestamp: 2023-01-26 10:06:26
Summary
Southwest Airlines reported a net loss of $220 million in the fourth quarter due to travel chaos and flight cancellations, and their shares dropped 5%. They expect to post a loss for the first three months of the year, and the Transportation Department is investigating whether their schedules over the holidays were "unrealistic". Despite this, they still expect to be profitable this year and expand their flying by 17%.
Sentiment: NEGATIVE
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Source: https://www.cnbc.com/2023/01/26/southwest-airlines-luv-earnings-q4-2022.html