Key Takeaways Southwest Airlines had a larger first-quarter loss and lower revenue than expected as it warned about the impact of fewer Boeing plane deliveries.The carrier will limit hiring and cease operations at four airports to cut costs.
At an Aril 25 earnings call, Southwest Airlines (LUV) announced a wider-than-expected loss of $231 million, or 39 cents a share, in the first three months of 2024 and a lowered growth capacity of 4% instead of the 6% it announced last year.
Southwest Airlines said Thursday it will cut 2,000 jobs and cease operations at four airports, partly to address “significant challenges” caused by delays in Boeing aircraft deliveries, as the world’s largest operator of 737 Max airplanes seeks to stem steep first-quarter losses.