Southwest Airlines fourth-quarter profits fell more than expected as the airline pays a high price for the grounding of Boeing’s 737 Max Aircraft.
According to a report on CNBC.com, profit fell more than 21 percent to $514 million, as the carrier’s costs rose, and Southwest says it will continue feeling the pinch into the new year as Boeing says the planes will remain inoperable into the busy summer season.
Southwest CEO Gary Kelly said in a statement the corporate will “continue to incur monetary damages in 2020, and we can continue discussions with Boeing referring to additional compensation.”
Southwest, which owns the most 737 Max planes, has pulled the aircraft through early June but says that it expects to make further adjustments.
Last year, the carrier reached a confidential agreement with Boeing for damages over its losses from the grounding of the planes and it expects to reach a similar deal with Boeing for losses incurred this year.
The daughter of a 90-year-old man accused JetBlue’s crew of negligence after her father suffered…
Summer travel planning is in full swing, and destinations across the country are going big…
With everyday costs on the rise, many Americans are wondering if their workplace benefits are…
United Airlines flight attendants ratified a new five-year contract that gives them a 31% pay…
If you’re an entrepreneur or a small business owner, we’re celebrating National Small Business Week—where…
Nurses are the heart of our health care system.