Canceled Holiday Flights , Will Cost Southwest Airlines , Over $800 Million .
Southwest Airlines holiday breakdown will cost
the air carrier as much as $825 million and
result in a net loss for the fourth quarter.
Southwest Airlines holiday breakdown will cost
the air carrier as much as $825 million and
result in a net loss for the fourth quarter.
In October, Southwest CEO Bob Jordan
predicted the airline would , “generate strong profits and
margins in fourth quarter.”.
In October, Southwest CEO Bob Jordan
predicted the airline would , “generate strong profits and
margins in fourth quarter.”.
In October, Southwest CEO Bob Jordan
predicted the airline would , “generate strong profits and
margins in fourth quarter.”.
'Forbes' reports that the airline says 17,000 canceled
flights over ten days cost the company between
$400 and $425 million in lost revenue.
'Forbes' reports that the airline says 17,000 canceled
flights over ten days cost the company between
$400 and $425 million in lost revenue.
'Forbes' reports that those losses come on top of
reimbursements to passengers for expenses like
transportation, hotels, meals and lost luggage.
The airline is also offering passengers 25,000
Rapid Rewards points as a peace offering for anyone
whose flight was canceled or delayed over three hours.
According to 'Forbes' the fallout from the debacle is
expected to trickle into future quarters as many of the
expenses will not be recorded until they are processed.
Meanwhile, the incident has added to calls
for stronger consumer protections to
safeguard confidence in U.S. air travel.
Senate, Commerce Committee chair Maria Cantwell
said that members of the committee will hold , "hearings for FAA reauthorization to
examine how to strengthen consumer
protections and airline operations.”.
'Forbes' reports that shares in Southwest
are currently down 3% over last month
and down 22% compared to 2021