Southwest Airlines , Posts Massive Loss , After Holiday Meltdown.
NBC reports that Southwest Airlines has reported a $220 million loss for the fourth quarter following a holiday meltdown.
.
The holiday incident drove up expenses for the air carrier and cost the company millions in revenue in what was predicted to be the busiest travel season since 2020.
Earlier this month, Southwest announced that it had canceled about 16,700 flights between December 21 and 31.
.
According to Southwest spokesman Jay McVay, cancellations snowballed as storms moved across the U.S. So we’ve been chasing our tails, trying to catch up and get back to normal safely, which is our No.
1 priority, as quickly as we could.
And that’s exactly how we ended up where we are today, Scott Mayerowitz, executive editor of The Points Guy travel site, via NBC.
So we’ve been chasing our tails, trying to catch up and get back to normal safely, which is our No.
1 priority, as quickly as we could.
And that’s exactly how we ended up where we are today, Scott Mayerowitz, executive editor of The Points Guy travel site, via NBC.
When bad weather hits, and you have staffing issues like they did, it creates a situation that is near impossible to recover from, and it couldn’t have happened during a worse possible week, Scott Mayerowitz, executive editor of The Points Guy travel site, via NBC.
When bad weather hits, and you have staffing issues like they did, it creates a situation that is near impossible to recover from, and it couldn’t have happened during a worse possible week, Scott Mayerowitz, executive editor of The Points Guy travel site, via NBC.
The cancellations, which were caused by severe winter weather across the U.S., hit Southwest's pretax results by $800 million.
.
NBC reports that following the release of the results, shares in Southwest went down about 3% in premarket trading.
Based on estimates compiled by Refinitiv, analysts anticipate per-share profits in Southwest of 19 cents for the current quarter
