New York
CNN
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Southwest Airlines reported a loss for the fourth quarter due to the corporate’s service meltdown over the vacation journey season, and it warned the prices from these issues will end in one other loss within the first quarter.
The airline was pressured to cancel greater than 16,700 flights between December 21 and 29, roughly half its schedule throughout that interval. Thursday, Southwest mentioned the meltdown value the airline about $800 million, leading to an adjusted web loss within the quarter of $226 million. Still, it managed to report an adjusted annual revenue of $723 million, a turnaround from $1.3 billion it misplaced in 2021 amid the pandemic.
It mentioned it expects one other loss within the first quarter because of the continued influence and prices related to meltdown. The first quarter is often the slowest and least worthwhile interval for US air journey. However, Southwest mentioned it’s inspired…
2023-01-26 14:50:21 Southwest posts quarterly loss and warns extra losses are forward after service meltdown
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