Southwest Airlines just posted quarterly profit despite taking a big hit from the grounded Boeing 737 Max
FILE PHOTO: A number of grounded Southwest Airlines Boeing 737 MAX 8 aircraft are shown parked at Victorville Airport in Victorville, CaliforniaSouthwest Airlines on Thursday said it turned a small profit in the second quarter despite a big hit from the grounded Boeing 737 max plane.
Southwest forecast 2019 capacity to fall between 1% and 2%, compared with its earlier forecast of nearly 5% growth.squeezed out a small profit in the second quarter as it struggled with the grounding of Boeing MAX jets, the carrier said on Thursday, extending its suspension of flights on the planes till Jan. 5.
The grounding and resulting capacity decline put pressure on second quarter unit costs, which rose 7.5% and the airline said it expects higher costs in the second half of 2019. Southwest forecast 2019 capacity to fall between 1% and 2%, compared with its earlier forecast of nearly 5% growth.
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