Southwest Airlines Co reported a wider-than-expected first-quarter loss due to a pre-tax charge related to mass cancellations in December and flagged 20 fewer deliveries of the MAX jets this year from Boeing Co .
However, Southwest forecast "solid profits" in the current quarter on strong summer bookings and joined rivals in allaying fears of a slowdown in travel due to a worsening economic outlook.
The airline, one of Boeing's biggest MAX customers, said it expects 70 deliveries of the 737-8 jet this year instead of the planned 90 after the U.S. planemakerfor airlines and limit their ability to meet travel demand, hitting revenue. The company expects "solid profits" in the second quarter as well as the full year, but did not provide specific numbers. Analysts polled by Refinitiv expect an adjusted profit per share of $1.05 for the second quarter and $2.73 for 2023.
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