Southwest Airlines warned of a surprise fourth-quarter net loss, due to costs resulting from the more than 16,700 flights canceled late-December
Southwest Airlines Co. warned Friday that it expects to report a surprise net loss for the fourth quarter, because of the costs associated with all the flights it canceled in December.
Southwest estimated the flight disruptions will reduce earnings by $725 million to $825 million, leading it to report a fourth-quarter net loss. The FactSet consensus for net income is estimated at $315.1 million. The stock LUV, -0.27% fell 1.2% in premarket trading Friday. It had dropped 7.5% during the 10-day period of flight cancellations.
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