Southwest Airlines Says Holiday Cancellations Could Top $825 Million
View Source | January 6, 2023 11:39 am
- Southwest Airlines expects to lose as much as $825 million from the operational meltdown that led to nearly 17,000 canceled flights over the chaotic holiday season.
- In a Friday filing with the Securities and Exchange Commission, the Dallas-based carrier said it expects the disruption that occurred between Dec. 21 and Dec. 31 to result in a pre-tax negative impact in the range of $725 million to $825 million.
- “A significant portion of this impact is from an estimated revenue loss in the range of $400 million to $425 million,” it said in the filing. Before the meltdown, Southwest projected fourth-quarter revenue would rise by up to 17% over the same period in 2019.
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