Southwest Airlines expects to rack up a significant loss, as much as $825 million, from the operational meltdown that led to nearly 17,000 flight cancellations.
expects to lose as much as $825 million from the operational meltdown that led to nearly 17,000 canceled flights over the chaotic holiday season.
In a Friday filing with the Securities and Exchange Commission, the Dallas-based carrier said it expects the disruption that occurred between Dec. 21 and Dec. 31 to result in a pre-tax negative impact in the range of $725 million to $825 million. "A significant portion of this impact is from an estimated revenue loss in the range of $400 million to $425 million," it said in the filing.
and the estimated value of Rapid Rewards points that were offered to customers that are expected to be redeemed, as well as premium pay and additional compensation for employees.
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