Southwest Airlines anticipates a money-losing quarter after a holiday debacle led to nearly 17,000 canceled flights and thousands of people being stranded.
Southwest Airlines anticipates a money losing quarter after a holiday debacle led to nearly 17,000 canceled flights and thousands of people, traveling to see family and friends, being stranded.
Southwest canceled more than 16,700 flights from Dec. 21 through Dec. 31. That will result in a pre-tax negative impact in the range of $725 million to $825 million, a net loss for the fourth quarter, the airline said Friday in a filing with the U.S. Securities and Exchange Commission. Southwest Airlines Co. expects a quarterly revenue loss of $400 million to $425 million, it said Friday. In early December, before the holiday meltdown, Southwest projected fourth-quarter revenue would rise by up to 17% over the same period in 2019, before the pandemic.
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