Southwest profit falls 46% as airline takes 'urgent' steps to increase revenue
Publishing timestamp: 2024-07-25 16:04:30
Summary
Southwest Airlines forecasts potential drop in unit revenue for third quarter due to oversupplied U.S. market, plans to increase sales by assigning seats and offering extra-legroom product. The airline reported a drop in profit but beat Wall Street expectations in second quarter. Southwest is in talks for compensation from Boeing and is making changes to its business model, including getting rid of open seating.
Sentiment: MIXED
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Source: https://www.cnbc.com/2024/07/25/southwest-airlines-luv-earnings-q2-2024.html