In order to reduce costs, Southwest Airlines will be cutting work and suspending operations at four flights while lowering flights from others. This is in response to Boeing’s ongoing problems.
Southwest Airlines said on Thursday that delays in deliveries from Boeing ( Southwest uses Boeing 737 planes ) led to its cost- cutting measures, with a “loss of$ 231 million for the first quarter, worse than analysts expected, sending its share price down 10 percent in early trading”, according to the New York Times.
Starting in August, Southwest will stop operating at the next airports: Syracuse Hancock International Airport, Cozumel International Airport, George Bush Intercontinental Airport, and Bellingham International Airport in Washington State. Additionally, it may reduce flights to Chicago O’Hare International Airport, Hartsfield-Jackson Atlanta International Airport, and  .
As Breitbart News reported , this quarter, a , Southwest Airlines Boeing 737- 800 was forced to make an emergency landing” after an engine propeller blew off during consider- off from , Denver International Airport”. Another Boeing ( 757 ), which was in critical need of repair after a nose wheel fell off, before takeoff, followed.
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According to the New York Times, Southwest said it expects to receive” 20 new Boeing jet this year, down from the 46 it had originally anticipated”.
” The schedule of the sales depends on the Federal Aviation Administration, which has capped Boeing’s manufacturing while it gets excellent troubles under control”, noted the store.
Bob Jordan, the firm’s chief executive, said in a speech that the “recent reports from Boeing regarding more aircraft shipping delays presents significant challenges for both 2024 and 2025”.
Additionally, Southwest Airlines announced that it would restrict new hires while reducing the number of work it will slice.
Due to its tragic third performance, Boeing stocks have been trending upward, according to Yahoo Finance.
The company reported losses that were narrower than expected, but it still had negative free cash flow of nearly$ 4 billion as a result of the 737 Max crisis, which has shaken the aerospace giant, according to the note.” Boeing , stock slid 2.8 % on Wednesday.
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