Southwest Airlines trims first quarter outlook after 737 Max groundings GlobeBusiness
A number of grounded Southwest Airlines Boeing 737 Max 8 aircraft are shown parked at Victorville Airport, in Victorville, Calif., on March 26, 2019.Southwest Airlines Co on Wednesday was the first major airline to formally cut its financial outlook in the wake of the recent groundings of Boeing 737 Max planes.
The revenue indicator is a closely followed measure of airline performance and had been forecast to grow by 3 per cent to 4 per cent before the crash of an Ethiopian Airlines jet on March 10 caused the grounding of 737 Max planes globally.The fourth leading U.S. airline, which has been battling flight cancellations on the back of bad weather, maintenance disruptions as well as the Max 8 groundings, also cut its capacity forecast for the first quarter.
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