From CNBC: 2024-04-25 16:08:03

Southwest Airlines reported a wider loss for Q1 and warned that Boeing delays will affect growth until 2025. Capacity growth for 2024 lowered to 4%, down from 6%, with shares dropping 7%. The airline now expects only 20 Boeing 737 Max 8 planes, reducing staff by 2,000 and closing operations at multiple airports.

Revenue slightly below analysts’ estimates at $6.33 billion for Q1. The airline lost $231 million or 39 cents a share, compared to $159 million in Q1 2023. Adjusted for one-time items, the loss was $218 million or 36 cents per share, as Boeing delays continue to hamper growth and operations.



Read more at CNBC: Southwest Airlines (LUV) earnings Q1 2024