Southwest Delays 30 Jet Deliveries to Save $1 Billion
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Southwest Airlines Co. deferred deliveries of 30 Boeing Co. 737-800 jets by about four years, as the largest discount carrier extends a cap on fleet size and works to curb rising costs until it hits financial targets.
“We’re more conservative right now in our ambitions with respect to expansion,” Chief Executive Officer Gary Kelly said today, following the company’s annual shareholder meeting. “Right now we’re very focused on hitting our profit target. We’ll have plenty of aircraft in future years to be able to grow the airline.”