Southwest Airlines says it will pull out of Newark and focus on New York LaGuardia Airport instead, as it seeks to mitigate damages from the Boeing 737 MAX 8 grounding
By Aisha Al-Muslim Updated July 25, 2019 8:13 am ET Southwest Airlines Co. LUV 1.11% will cease operations at Newark Liberty International Airport this fall because of the impact of the grounding of Boeing Co.’s 737 MAX 8 aircraft.
The update came as Southwest reported slight year-over-year increases in revenue and earnings for the second quarter. Shares of Southwest fell 4.5% to $52.25 in premarket trading. The airline expects regulatory approval for the MAX’s return during the fourth quarter but said “we offer no assurances that our current assumptions and timelines are correct.”
The financial results at Newark have been below expectations, while customer demand is strong at LaGuardia Airport, Southwest said. As part of its decision, Southwest will offer options to customers to recover planned travel from other area airports, the company said. Its employees will have the opportunity to relocate to another location, including LaGuardia.
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