Southwest shares jump as strong travel demand offsets Boeing 737 Max grounding costs
Publishing timestamp: 2019-10-24 10:38:28
Summary
Southwest Airlines posted higher revenue and profit in the third quarter, but warned that the financial impact from the Boeing 737 Max grounding will continue into 2020. The grounding has cost Southwest $210 million in revenue in the quarter and $435 million in the first nine months of the year. CEO Gary Kelly expressed dissatisfaction with the Max issues and stated that even if the FAA lifts the ban before the end of the year, it will take one to two months for Southwest to complete pilot training and other steps to get the planes ready for passengers.
Sentiment: MIXED
Keywords: earnings, transportation, american airlines group inc, life, breaking news: business, southwest airlines co, travel, business news, boeing co, aerospace and defense industry, business, politics,