{"id":1825157,"date":"2023-01-26T12:35:16","date_gmt":"2023-01-26T17:35:16","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1825157"},"modified":"2023-01-26T12:36:14","modified_gmt":"2023-01-26T17:36:14","slug":"southwest-airlines-reports-massive-revenue-hit-after-christmas-meltdown","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/southwest-airlines-reports-massive-revenue-hit-after-christmas-meltdown\/","title":{"rendered":"Southwest Airlines Reports Massive Revenue Hit After Christmas Meltdown"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fsouthwest-airlines-reports-massive-revenue-hit-after-christmas-meltdown%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1825157&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<p><a href=\"http:\/\/dailywire.com\/topic\/southwest-airlines\" target=\"_blank\" rel=\"noopener\">Southwest Airlines<\/a> Reports a loss of $220 million in the fourth quarter. <a href=\"http:\/\/dailywire.com\/topic\/stock-market\" target=\"_blank\" rel=\"noopener\">investors<\/a> that fallout from the company\u2019s holiday meltdown would continue.<\/p>\n<p>Southwest cancelled more flights than its competitors over Christmas, even though the winter storms had subsided. Investors will be paying $0.37 per share for these losses. They will continue into the first quarter in 2023. \u201cincrease in flight cancellations and a deceleration in bookings\u201d According to fourth quarter earnings, disruptions were seen in January and Februari. <a href=\"https:\/\/swamedia.com\/releases\/release-f30033abc7ead7522c3ea8021c3d5d2d-southwest-airlines-reports-fourth-quarter-and-full-year-2022-results\" target=\"_blank\" rel=\"noopener\">report<\/a>.<\/p>\n<p>\u201cWe have swiftly taken steps to bolster our operational resilience and are undergoing a detailed review of the December events,\u201d Bob Jordan, Southwest CEO, remarked. \u201cIn addition, our Board of Directors has established an Operations Review Committee that is working with the company\u2019s management to help oversee the company\u2019s response. As part of our efforts, we are also conducting a third-party review of the December events and are reexamining the priority of technology and other investments planned in 2023.\u201d<\/p>\n<p>Shares for Southwest fell 4.8% on Thursday morning after the announcement; the company\u2019s stock price has fallen more than 12% since the beginning of December.<\/p>\n<p>Southwest reported positive net earnings for 2022 despite losses during the fourth quarter. They also had record fourth-quarter and full-year operating results of $23.8 billion and $6.2 billion, respectively. According to the company, the number of available seats miles, which is a measure used by airlines for estimating revenue generation capacity, will rise 10% in the first quarter 2023. Jordan said that the company&#8217;s executives are preparing for an increase in revenue generation. \u201cencouraged\u201d Check out the March booking trends and what you can expect for next month. \u201csolid profits\u201d The year.<\/p>\n<p>According to a report by a, Southwest cancelled 16,700 Southwest flights between December 21st and December 31. <a href=\"https:\/\/otp.tools.investis.com\/clients\/us\/southwest\/SEC\/sec-show.aspx?Type=html&#038;FilingId=16303107&#038;CIK=0000092380&#038;Index=10000\" target=\"_blank\" rel=\"noopener\">filing<\/a> Submitted to the Securities and Exchange Commission. They added that the overall pretax negative <a href=\"https:\/\/www.dailywire.com\/news\/southwest-reveals-how-much-holiday-flight-meltdown-will-cost-them\" target=\"_blank\" rel=\"noopener\">impact<\/a> From the meltdown, between $725 Million and $825 Million would be settled.<\/p>\n<p>Executives are looking to <a href=\"https:\/\/www.dailywire.com\/news\/southwest-gives-disgruntled-customers-frequent-flyer-points-in-aftermath-of-holiday-meltdown\" target=\"_blank\" rel=\"noopener\">recover<\/a> There were thousands of passengers affected by delayed or cancelled flights, which led to a loss in customer trust. Some passengers received reward points up to $300; the company also promised to reimburse flyers for meals and hotel accommodations as well as tickets purchased with other airlines.<\/p>\n<p>Despite the expectations of profitability, there will be difficulties for the company throughout the year. Members of the Southwest Airlines Pilot Association, the company\u2019s labor union, <a href=\"https:\/\/www.dailywire.com\/news\/southwest-pilots-announce-they-may-go-on-strike-one-month-after-airlines-nationwide-meltdown\" target=\"_blank\" rel=\"noopener\">announced<\/a> A strike authorization vote was scheduled for May 1, in response to the holiday meltdown. \u201cutter lack of meaningful progress on a contract negotiation.\u201d<\/p>\n<p>\u201cI think it is best to consider what our customers have been through over the past several years and the past several weeks,\u201d Southwest Airlines Pilot Association President Captain Casey Murray stated in a <a href=\"https:\/\/www.swapa.org\/news\/2023\/press-release-sav-announcement\/\" target=\"_blank\" rel=\"noopener\">press release<\/a>. \u201cIt was the lack of discussion or commitment by our leadership team to rectify these issues for our passengers and our pilots that drove us to make the decision to carry forward on this path.\u201d<\/p>\n<p>Transport Secretary Pete Buttigieg and other regulators have in the interim urged Southwest to quickly reimburse customers; he <a href=\"https:\/\/www.dailywire.com\/news\/buttigieg-sends-brutal-letter-to-southwest-ceo-demanding-airline-follow-through-with-reimbursing-travelers\" target=\"_blank\" rel=\"noopener\">described<\/a> The \u201clevel of disruption\u201d As experienced by passengers \u201cunacceptable\u201d He also warned that his agency would be exercising its rights. \u201cthe fullest extent of its investigative and enforcement powers\u201d To ensure that customers get refunded.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Southwest Airlines reported a $220 million loss in the fourth quarter and warned investors that fallout from the company\u2019s holiday meltdown would continue. Southwest canceled a high number of flights relative to competitors over the Christmas holidays, even after severe winter weather conditions had subsided. The losses, which will cost investors $0.37 per diluted share, &#8230;<\/p>\n","protected":false},"author":99,"featured_media":865713,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[541],"tags":[6327,6922,9025,5908,5888,4564,14486,7374],"class_list":["post-1825157","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire","tag-airlines","tag-christmas","tag-hit","tag-massive","tag-meltdown","tag-reports","tag-revenue","tag-southwest"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1825157","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1825157"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1825157\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/865713"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1825157"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1825157"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1825157"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}