Southwest Airlines expects to report net loss in fourth quarter after mass cancellations
Southwest Airlines on Friday revised its fourth-quarter forecast to a net loss from "strong profit".
The net loss will largely be due to an estimated pre-tax negative impact of $725 million to $825 million, the company said in a regulatory filing.The arrivals and departures board displays canceled and delayed Southwest Airlines flights at BWI Thurgood Marshall Airport in Glen Burnie, Md., on Wednesday, December 28, 2022.
The largest U.S. domestic carrier, which typically has an aggressive schedule that connects vast swathes of the country, scrapped more than 16,000 flights during that period, according to airline-tracking website FlightAware.
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