Southwest Airlines Co said on Tuesday it has agreed with Boeing Co to sharply cut its 737 MAX delivery schedule through 2021 and is reviewing its order book as the coronavirus pandemic caused its first quarterly loss in nine years.
) to sharply cut its 737 MAX delivery schedule through 2021 and is reviewing its order book as the coronavirus pandemic caused its first quarterly loss in nine years.
Just months ago, airlines including Southwest were cancelling flights and delaying growth plans and aircraft retirements because the 737 MAX grounding left them without enough planes. “We have no idea what kind of cancellations will come through before those travel dates; there’s no way to be comfortable with what will happen to those reservations,” Southwest CEO Gary Kelly told Reuters.Southwest had $9.3 billion in cash on hand as of April 24, with leverage of 47%.
The coronavirus outbreak has led to the deaths of more than 207,000 people, including more than 55,000 in the United States, a Reuters tally shows.
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