Southwest Sees Fourth-Quarter Loss After Flight Cancellations
- Airline canceled more than 16,700 flights over holidays
- Shares fall in premarket trading after downward revision
Check-in at the Southwest Airlines check-in counter in Oakland, California.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Southwest Airlines Co. said it expects a fourth-quarter loss as it grapples with costs associated with an operations meltdown that forced it to cancel more than 16,700 flights in late December.
The chaos over the holiday period will result in a negative fourth-quarter impact in the range of $725 million to $825 million, leading to a net loss for the period, the company said Friday in a filing. Southwest had predicted a quarterly profit early last month.